Welch Group LLC boosted its holdings in shares of Southern Co (NYSE:SO) by 9.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 576,752 shares of the utilities provider’s stock after buying an additional 51,777 shares during the period. Southern makes up about 3.3% of Welch Group LLC’s portfolio, making the stock its 5th largest position. Welch Group LLC owned approximately 0.06% of Southern worth $26,709,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Well Done LLC bought a new stake in shares of Southern in the 1st quarter worth $100,000. Kaizen Advisory LLC grew its position in Southern by 133.8% during the second quarter. Kaizen Advisory LLC now owns 2,284 shares of the utilities provider’s stock valued at $106,000 after buying an additional 1,307 shares during the period. BerganKDV Wealth Management LLC bought a new position in Southern during the second quarter valued at about $130,000. JJJ Advisors Inc. bought a new position in Southern during the second quarter valued at about $144,000. Finally, Whittier Trust Co. grew its position in Southern by 99.9% during the second quarter. Whittier Trust Co. now owns 3,714 shares of the utilities provider’s stock valued at $168,000 after buying an additional 1,856 shares during the period. Hedge funds and other institutional investors own 56.77% of the company’s stock.
Southern traded down $0.06, reaching $47.91, on Monday, MarketBeat reports. 3,360,499 shares of the company’s stock were exchanged, compared to its average volume of 6,038,193. The company has a quick ratio of 0.55, a current ratio of 0.70 and a debt-to-equity ratio of 1.71. The firm has a market capitalization of $48.53 billion, a PE ratio of 15.84, a P/E/G ratio of 3.67 and a beta of 0.03. Southern Co has a 52 week low of $42.38 and a 52 week high of $53.51.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 6th. Shareholders of record on Monday, August 20th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, August 17th. This represents a $2.40 dividend on an annualized basis and a yield of 5.01%. Southern’s dividend payout ratio is presently 79.47%.
Several equities analysts recently weighed in on SO shares. TheStreet upgraded shares of Southern from a “c” rating to a “b-” rating in a research report on Monday, June 4th. Deutsche Bank reduced their price target on shares of Southern from $49.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, May 22nd. Zacks Investment Research upgraded shares of Southern from a “sell” rating to a “hold” rating in a research report on Tuesday, May 1st. ValuEngine upgraded shares of Southern from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. Finally, Citigroup upgraded shares of Southern from a “sell” rating to a “neutral” rating and set a $44.00 price target for the company in a research report on Friday, June 22nd. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. Southern currently has an average rating of “Hold” and an average price target of $48.43.
Southern Company 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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