Vaughan David Investments LLC IL Reduces Position in Southern Co (SO)

Vaughan David Investments LLC IL reduced its position in shares of Southern Co (NYSE:SO) by 3.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 471,099 shares of the utilities provider’s stock after selling 18,418 shares during the period. Vaughan David Investments LLC IL’s holdings in Southern were worth $20,540,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SO. Kaizen Advisory LLC raised its position in shares of Southern by 133.8% during the 2nd quarter. Kaizen Advisory LLC now owns 2,284 shares of the utilities provider’s stock valued at $106,000 after acquiring an additional 1,307 shares in the last quarter. Destination Wealth Management raised its position in shares of Southern by 359.3% during the 2nd quarter. Destination Wealth Management now owns 2,315 shares of the utilities provider’s stock valued at $107,000 after acquiring an additional 1,811 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Southern during the 2nd quarter valued at approximately $119,000. Horan Capital Advisors LLC. acquired a new stake in shares of Southern during the 2nd quarter valued at approximately $121,000. Finally, Sound Income Strategies LLC raised its position in shares of Southern by 83.5% during the 3rd quarter. Sound Income Strategies LLC now owns 2,855 shares of the utilities provider’s stock valued at $124,000 after acquiring an additional 1,299 shares in the last quarter. 56.97% of the stock is currently owned by institutional investors and hedge funds.

SO has been the topic of several analyst reports. Bank of America raised Southern from an “underperform” rating to a “neutral” rating and set a $46.00 target price on the stock in a research report on Wednesday, October 10th. SunTrust Banks reaffirmed a “hold” rating and issued a $48.00 target price on shares of Southern in a research report on Thursday, November 8th. Credit Suisse Group lowered Southern from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $46.00 to $43.00 in a research report on Thursday, August 9th. Scotiabank reaffirmed a “hold” rating and issued a $44.00 target price on shares of Southern in a research report on Thursday, August 9th. Finally, Barclays increased their target price on Southern from $48.00 to $49.00 and gave the stock a “hold” rating in a research report on Monday, November 19th. Six analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. Southern has an average rating of “Hold” and an average target price of $46.32.

Shares of NYSE SO opened at $45.72 on Friday. Southern Co has a 1-year low of $42.38 and a 1-year high of $52.00. The company has a current ratio of 0.72, a quick ratio of 0.58 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $47.04 billion, a price-to-earnings ratio of 13.73, a P/E/G ratio of 3.35 and a beta of -0.09.

Southern (NYSE:SO) last issued its earnings results on Wednesday, November 7th. The utilities provider reported $1.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.07. Southern had a return on equity of 12.88% and a net margin of 10.35%. The firm had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same period last year, the company earned $1.12 earnings per share. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. Sell-side analysts anticipate that Southern Co will post 3.03 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Monday, November 19th will be paid a $0.60 dividend. The ex-dividend date is Friday, November 16th. This represents a $2.40 annualized dividend and a dividend yield of 5.25%. Southern’s payout ratio is 79.47%.

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Southern Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, New Jersey, Florida, Tennessee, and Maryland, as well as provides gas marketing services, wholesale gas services, and gas midstream operations.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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