Southern Company (The) $SO Stock: Provenance Wealth Advisors LLC Raises Stake

Provenance Wealth Advisors LLC raised its position in Southern Company (The) (NYSE:SO) by 27,742.1% during the third quarter, HoldingsChannel.com reports. The firm owned 10,580 shares of the utilities provider’s stock after purchasing an additional 10,542 shares during the period. Provenance Wealth Advisors LLC’s holdings in Southern were worth $877,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SO. Evergreen Advisors LLC purchased a new position in shares of Southern during the first quarter valued at approximately $25,000. Scarborough Advisors LLC bought a new position in shares of Southern during the first quarter valued at approximately $25,000. Bullseye Investment Management LLC purchased a new stake in shares of Southern in the second quarter worth approximately $26,000. J.Safra Asset Management Corp purchased a new stake in shares of Southern in the second quarter worth approximately $30,000. Finally, Frazier Financial Advisors LLC purchased a new stake in shares of Southern in the second quarter worth approximately $31,000. Institutional investors own 64.10% of the company’s stock.

Southern Price Performance

SO opened at $93.02 on Thursday. The business’s 50-day moving average is $88.02 and its two-hundred day moving average is $92.44. Southern Company has a 1 year low of $81.69 and a 1 year high of $99.58. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.79 and a quick ratio of 0.59. The firm has a market capitalization of $107.01 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 2.47 and a beta of 0.30.

Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 7th. Stockholders of record on Monday, November 16th will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Monday, November 16th. Southern’s dividend payout ratio (DPR) is currently 72.90%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SO shares. KeyCorp dropped their price objective on Southern from $79.00 to $74.00 and set an “underweight” rating for the company in a report on Tuesday, October 13th. Royal Bank Of Canada reduced their target price on Southern from $101.00 to $98.00 in a research note on Monday, October 26th. DA Davidson set a $98.00 target price on Southern in a research report on Wednesday, October 21st. Mizuho set a $106.00 target price on shares of Southern and gave the company an “outperform” rating in a research note on Friday, July 31st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Southern in a research note on Tuesday, October 27th. Eight research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $97.24.

Southern Profile

Southern Company (NYSE: SO) is an energy holding company headquartered in Atlanta, Georgia. Through its subsidiaries, the company generates, transmits, distributes and sells electricity, while also providing natural gas distribution and related energy services.

Southern’s electric utility operations include Alabama Power, Georgia Power and Mississippi Power, which serve customers across Alabama, Georgia and Mississippi. The company’s generation portfolio includes nuclear, natural gas, coal, hydroelectric and renewable energy resources.