NEOS Investment Management LLC Buys 25,235 Shares of Southern Company (The) $SO

NEOS Investment Management LLC increased its stake in Southern Company (The) (NYSE:SO) by 24.4% during the third quarter, Holdings Channel.com reports. The fund owned 128,633 shares of the utilities provider’s stock after buying an additional 25,235 shares during the period. NEOS Investment Management LLC’s holdings in Southern were worth $12,191,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Southern in the 2nd quarter valued at $1,179,715,000. Laurel Wealth Advisors LLC lifted its holdings in Southern by 9,099.6% in the second quarter. Laurel Wealth Advisors LLC now owns 4,421,331 shares of the utilities provider’s stock valued at $406,011,000 after buying an additional 4,373,271 shares during the period. Soroban Capital Partners LP boosted its position in Southern by 83.8% during the second quarter. Soroban Capital Partners LP now owns 4,097,422 shares of the utilities provider’s stock valued at $376,266,000 after acquiring an additional 1,867,912 shares during the last quarter. Vanguard Group Inc. grew its holdings in Southern by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 105,904,243 shares of the utilities provider’s stock worth $9,725,187,000 after acquiring an additional 1,694,066 shares during the period. Finally, Soundwatch Capital LLC acquired a new position in shares of Southern in the 2nd quarter valued at about $103,342,000. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Stock Performance

Shares of SO opened at $92.00 on Wednesday. Southern Company has a 52 week low of $83.09 and a 52 week high of $100.83. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.59 and a current ratio of 0.75. The stock has a 50 day moving average price of $88.22 and a two-hundred day moving average price of $91.31. The firm has a market capitalization of $101.30 billion, a P/E ratio of 22.77, a P/E/G ratio of 2.87 and a beta of 0.45.

Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, February 17th. Southern’s payout ratio is currently 73.27%.

Wall Street Analyst Weigh In

SO has been the subject of a number of research analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $105.00 target price on shares of Southern in a report on Friday, January 23rd. Morgan Stanley reiterated an “underweight” rating and set a $85.00 target price on shares of Southern in a research report on Wednesday, January 21st. The Goldman Sachs Group lowered shares of Southern from a “buy” rating to a “neutral” rating and set a $98.00 target price on the stock. in a research note on Thursday, November 6th. Wells Fargo & Company lowered shares of Southern from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $97.00 to $84.00 in a report on Tuesday, January 20th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Southern in a research note on Wednesday, January 21st. Four research 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, the stock currently has a consensus rating of “Hold” and a consensus 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.