Longboard Asset Management LP Invests $212,000 in The Southern Company (NYSE:SO)

Longboard Asset Management LP bought a new position in The Southern Company (NYSE:SO) during the 4th quarter, Holdings Channel.com reports. The firm bought 2,573 shares of the utilities provider’s stock, valued at approximately $212,000.

Several other large investors have also added to or reduced their stakes in the stock. Stanley Laman Group Ltd. raised its holdings in shares of Southern by 3.8% during the 3rd quarter. Stanley Laman Group Ltd. now owns 3,246 shares of the utilities provider’s stock worth $293,000 after acquiring an additional 119 shares in the last quarter. Abel Hall LLC raised its holdings in shares of Southern by 1.8% during the 3rd quarter. Abel Hall LLC now owns 6,830 shares of the utilities provider’s stock worth $616,000 after acquiring an additional 120 shares in the last quarter. DT Investment Partners LLC raised its holdings in shares of Southern by 5.8% during the 3rd quarter. DT Investment Partners LLC now owns 2,201 shares of the utilities provider’s stock worth $198,000 after acquiring an additional 121 shares in the last quarter. Birchcreek Wealth Management LLC raised its holdings in shares of Southern by 4.5% during the 3rd quarter. Birchcreek Wealth Management LLC now owns 2,836 shares of the utilities provider’s stock worth $256,000 after acquiring an additional 121 shares in the last quarter. Finally, Truvestments Capital LLC raised its holdings in shares of Southern by 4.3% during the 3rd quarter. Truvestments Capital LLC now owns 3,011 shares of the utilities provider’s stock worth $272,000 after acquiring an additional 123 shares in the last quarter. Institutional investors own 64.10% of the company’s stock.

Insider Transactions at Southern

In other news, EVP Martin Bernard Davis sold 1,170 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $85.90, for a total transaction of $100,503.00. Following the transaction, the executive vice president now owns 88,393 shares of the company’s stock, valued at approximately $7,592,958.70. This represents a 1.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

Southern Stock Performance

Shares of Southern stock opened at $83.19 on Wednesday. The stock’s fifty day moving average is $83.83 and its two-hundred day moving average is $86.66. The company has a market capitalization of $91.15 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 2.86 and a beta of 0.53. The company has a quick ratio of 0.66, a current ratio of 0.91 and a debt-to-equity ratio of 1.66. The Southern Company has a 52 week low of $65.80 and a 52 week high of $94.45.

Southern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Tuesday, February 18th. Southern’s payout ratio is 66.98%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Guggenheim cut Southern from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Scotiabank increased their price target on Southern from $96.00 to $98.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Morgan Stanley decreased their price target on Southern from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. BMO Capital Markets decreased their price target on Southern from $99.00 to $97.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Mizuho increased their price target on Southern from $83.00 to $85.00 and gave the company a “neutral” rating in a report on Monday. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $89.79.

Southern Company Profile

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