Kingsview Wealth Management LLC Has $3.73 Million Position in Southern Company (The) $SO

Kingsview Wealth Management LLC lessened its stake in Southern Company (The) (NYSE:SO) by 63.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 39,392 shares of the utilities provider’s stock after selling 68,834 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Southern were worth $3,733,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Cloud Capital Management LLC acquired a new position in shares of Southern in the third quarter worth $25,000. Grey Fox Wealth Advisors LLC acquired a new stake in Southern during the third quarter valued at $29,000. Steigerwald Gordon & Koch Inc. purchased a new position in Southern in the third quarter valued at about $34,000. Chilton Capital Management LLC grew its stake in Southern by 120.1% in the third quarter. Chilton Capital Management LLC now owns 361 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 197 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in Southern in the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 64.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SO has been the subject of several research reports. KeyCorp upgraded Southern from an “underweight” rating to a “sector weight” rating in a report on Wednesday. Morgan Stanley reaffirmed an “underweight” rating on shares of Southern in a research report on Friday, February 20th. The Goldman Sachs Group cut shares of Southern from a “buy” rating to a “neutral” rating and set a $98.00 target price for the company. in a research note on Thursday, November 6th. Wells Fargo & Company set a $96.00 price target on shares of Southern and gave the stock an “equal weight” rating in a research note on Friday, February 20th. Finally, Wall Street Zen downgraded shares of Southern from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Five investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $97.64.

Southern Trading Down 0.3%

Shares of SO stock opened at $96.92 on Wednesday. Southern Company has a 12 month low of $83.09 and a 12 month high of $100.83. The company has a market cap of $106.72 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 2.94 and a beta of 0.44. The company has a quick ratio of 0.47, a current ratio of 0.65 and a debt-to-equity ratio of 1.69. The business’s 50 day moving average is $90.19 and its two-hundred day moving average is $91.37.

Southern (NYSE:SO) last posted its quarterly earnings data on Wednesday, February 18th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). The firm had revenue of $6.98 billion for the quarter, compared to the consensus estimate of $6.41 billion. Southern had a return on equity of 12.52% and a net margin of 14.69%.Southern’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 earnings per share. Equities analysts predict that Southern Company will post 4.29 EPS for the current year.

Southern Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Tuesday, February 17th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.1%. Southern’s payout ratio is presently 75.32%.

Southern Company 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.