Southern Company (The) $SO Shares Bought by AGF Management Ltd.

AGF Management Ltd. grew its holdings in Southern Company (The) (NYSE:SO) by 22.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,511 shares of the utilities provider’s stock after buying an additional 11,273 shares during the quarter. AGF Management Ltd.’s holdings in Southern were worth $5,735,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cloud Capital Management LLC purchased a new position in Southern during the third quarter valued at $25,000. Advantage Trust Co raised its position in shares of Southern by 1,428.6% during the 2nd quarter. Advantage Trust Co now owns 321 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 300 shares during the last quarter. Grey Fox Wealth Advisors LLC acquired a new position in shares of Southern during the 3rd quarter worth about $29,000. Steigerwald Gordon & Koch Inc. purchased a new position in Southern in the 3rd quarter valued at about $34,000. Finally, Chilton Capital Management LLC boosted its holdings in Southern by 120.1% in the 3rd quarter. Chilton Capital Management LLC now owns 361 shares of the utilities provider’s stock worth $34,000 after buying an additional 197 shares during the last quarter. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Southern Stock Up 2.2%

Shares of NYSE:SO opened at $90.17 on Wednesday. Southern Company has a 52-week low of $82.78 and a 52-week high of $100.83. The stock has a market cap of $99.28 billion, a P/E ratio of 22.32, a PEG ratio of 2.66 and a beta of 0.45. The business has a fifty day moving average of $87.52 and a two-hundred day moving average of $91.55. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Tuesday, February 17th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 3.3%. The ex-dividend date is Tuesday, February 17th. Southern’s dividend payout ratio (DPR) is presently 73.27%.

Analyst Upgrades and Downgrades

SO has been the subject of a number of research analyst reports. The Goldman Sachs Group cut Southern from a “buy” rating to a “neutral” rating and set a $98.00 target price for the company. in a report on Thursday, November 6th. Morgan Stanley reissued an “underweight” rating and issued a $85.00 price objective on shares of Southern in a research note on Wednesday, January 21st. JPMorgan Chase & Co. decreased their price objective on Southern from $104.00 to $93.00 and set a “neutral” rating on the stock in a report on Monday, December 15th. Wall Street Zen lowered shares of Southern from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Finally, Mizuho reduced their target price on shares of Southern from $97.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, December 11th. Four analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $94.91.

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.