Zions Bancorporation National Association UT Sells 19,559 Shares of Southern Company (The) $SO

Zions Bancorporation National Association UT lessened its stake in Southern Company (The) (NYSE:SO) by 45.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,506 shares of the utilities provider’s stock after selling 19,559 shares during the period. Zions Bancorporation National Association UT’s holdings in Southern were worth $2,228,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gladstone Institutional Advisory LLC raised its stake in shares of Southern by 0.5% in the third quarter. Gladstone Institutional Advisory LLC now owns 21,461 shares of the utilities provider’s stock valued at $2,034,000 after purchasing an additional 105 shares in the last quarter. Venturi Wealth Management LLC raised its position in Southern by 0.7% in the third quarter. Venturi Wealth Management LLC now owns 15,230 shares of the utilities provider’s stock worth $1,443,000 after purchasing an additional 105 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its stake in Southern by 2.3% during the second quarter. Avidian Wealth Enterprises LLC now owns 4,697 shares of the utilities provider’s stock worth $431,000 after purchasing an additional 106 shares during the period. Highline Wealth Partners LLC boosted its holdings in Southern by 0.7% during the third quarter. Highline Wealth Partners LLC now owns 15,667 shares of the utilities provider’s stock valued at $1,485,000 after purchasing an additional 106 shares in the last quarter. Finally, Sara Bay Financial grew its stake in shares of Southern by 2.7% in the 3rd quarter. Sara Bay Financial now owns 4,133 shares of the utilities provider’s stock valued at $392,000 after purchasing an additional 108 shares during the period. 64.10% of the stock is currently owned by institutional investors.

Southern Trading Up 2.6%

SO stock opened at $94.93 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 0.75 and a debt-to-equity ratio of 1.69. Southern Company has a twelve month low of $83.09 and a twelve month high of $100.83. The company has a market cap of $104.53 billion, a P/E ratio of 23.50, a PEG ratio of 2.87 and a beta of 0.45. The business has a fifty day moving average of $88.09 and a 200-day moving average of $91.33.

Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Tuesday, February 17th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, February 17th. Southern’s dividend payout ratio (DPR) is 73.27%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SO shares. The Goldman Sachs Group cut Southern from a “buy” rating to a “neutral” rating and set a $98.00 price target on the stock. in a research report on Thursday, November 6th. Jefferies Financial Group reduced their price target on shares of Southern from $104.00 to $93.00 and set a “neutral” rating on the stock in a research report on Monday, December 15th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $105.00 target price on shares of Southern in a research note on Friday, January 23rd. Barclays dropped their price target on Southern from $91.00 to $88.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. Finally, Morgan Stanley restated an “underweight” rating and set a $85.00 target price on shares of Southern in a report on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $94.91.

About Southern

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.