Envestnet Asset Management Inc. Decreases Position in Southern Company (The) $SO

Envestnet Asset Management Inc. decreased its position in Southern Company (The) (NYSE:SO) by 17.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,044,444 shares of the utilities provider’s stock after selling 431,285 shares during the period. Envestnet Asset Management Inc.’s holdings in Southern were worth $193,752,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Matrix Trust Co acquired a new position in shares of Southern during the 3rd quarter valued at about $1,813,000. Equitable Trust Co. boosted its position in shares of Southern by 24.7% in the second quarter. Equitable Trust Co. now owns 34,527 shares of the utilities provider’s stock worth $3,171,000 after acquiring an additional 6,843 shares during the last quarter. Donaldson Capital Management LLC grew its holdings in Southern by 2,785.8% in the third quarter. Donaldson Capital Management LLC now owns 563,027 shares of the utilities provider’s stock valued at $53,358,000 after purchasing an additional 543,517 shares during the period. Alpha Cubed Investments LLC increased its position in Southern by 23.6% during the second quarter. Alpha Cubed Investments LLC now owns 7,145 shares of the utilities provider’s stock worth $656,000 after purchasing an additional 1,366 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Southern during the third quarter worth approximately $4,852,000. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Price Performance

SO stock opened at $91.06 on Friday. The stock has a 50-day simple moving average of $87.53 and a 200-day simple moving average of $91.53. The firm has a market cap of $100.26 billion, a P/E ratio of 22.54, a price-to-earnings-growth ratio of 2.73 and a beta of 0.45. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.59 and a current ratio of 0.75. Southern Company has a 1 year low of $82.90 and a 1 year high of $100.83.

Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Tuesday, February 17th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, February 17th. Southern’s payout ratio is presently 73.27%.

Analyst Upgrades and Downgrades

SO has been the subject of several research reports. BTIG Research initiated coverage on shares of Southern in a research note on Tuesday, October 21st. They set a “neutral” rating for the company. Royal Bank Of Canada reissued a “sector perform” rating and set a $105.00 price target on shares of Southern in a research report on Friday, January 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Southern in a report on Wednesday, January 21st. Morgan Stanley reiterated an “underweight” rating and set a $85.00 target price on shares of Southern in a report on Wednesday, January 21st. Finally, LADENBURG THALM/SH SH restated a “neutral” rating and issued a $102.50 price target (up previously from $99.50) on shares of Southern in a report on Friday, October 17th. Four investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $94.91.

Southern Profile

Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.