Avion Wealth Raises Stake in The Southern Company (NYSE:SO)

Avion Wealth boosted its position in The Southern Company (NYSE:SO) by 549.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,175 shares of the utilities provider’s stock after buying an additional 994 shares during the quarter. Avion Wealth’s holdings in Southern were worth $96,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in Southern by 34.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 545,083 shares of the utilities provider’s stock valued at $44,735,000 after purchasing an additional 140,401 shares during the last quarter. Kentucky Trust Co bought a new stake in Southern in the fourth quarter valued at approximately $4,331,000. Atlas Wealth Partners LLC lifted its position in Southern by 5.8% in the fourth quarter. Atlas Wealth Partners LLC now owns 6,422 shares of the utilities provider’s stock valued at $529,000 after purchasing an additional 350 shares during the last quarter. Capital Advisors Inc. OK raised its holdings in shares of Southern by 1.8% during the fourth quarter. Capital Advisors Inc. OK now owns 890,267 shares of the utilities provider’s stock valued at $73,287,000 after acquiring an additional 15,383 shares in the last quarter. Finally, Certuity LLC raised its holdings in shares of Southern by 11.2% during the fourth quarter. Certuity LLC now owns 4,893 shares of the utilities provider’s stock valued at $403,000 after acquiring an additional 493 shares in the last quarter. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Insider Activity at Southern

In other Southern news, EVP Martin Bernard Davis sold 1,170 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $85.90, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by insiders.

Southern Trading Up 1.1 %

Southern stock opened at $86.45 on Wednesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.91 and a quick ratio of 0.66. The Southern Company has a one year low of $65.80 and a one year high of $94.45. The stock has a market capitalization of $94.72 billion, a PE ratio of 20.10, a price-to-earnings-growth ratio of 2.86 and a beta of 0.53. The business’s fifty day moving average is $83.33 and its 200 day moving average is $86.74.

Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Tuesday, February 18th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.88 annualized dividend and a dividend yield of 3.33%. Southern’s dividend payout ratio (DPR) is presently 66.98%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Morgan Stanley decreased their target price on Southern from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. Guggenheim downgraded Southern from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Scotiabank increased their price objective on Southern from $96.00 to $98.00 and gave the stock a “sector outperform” rating in a report on Thursday, December 12th. Barclays increased their price objective on Southern from $71.00 to $83.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Finally, BMO Capital Markets decreased their price objective on Southern from $99.00 to $97.00 and set an “outperform” rating for the company in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average 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.