Perigon Wealth Management LLC Has $3.09 Million Stake in Southern Company (The) $SO

Perigon Wealth Management LLC grew its position in Southern Company (The) (NYSE:SO) by 26.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,548 shares of the utilities provider’s stock after buying an additional 6,801 shares during the quarter. Perigon Wealth Management LLC’s holdings in Southern were worth $3,085,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SO. Ameriflex Group Inc. raised its position in Southern by 275.0% during the second quarter. Ameriflex Group Inc. now owns 300 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 220 shares in the last quarter. Advantage Trust Co raised its holdings 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 buying an additional 300 shares in the last quarter. IMG Wealth Management Inc. acquired a new position in shares of Southern during the 2nd quarter worth $38,000. Anfield Capital Management LLC lifted its position in shares of Southern by 309.5% during the 2nd quarter. Anfield Capital Management LLC now owns 430 shares of the utilities provider’s stock worth $39,000 after buying an additional 325 shares during the last quarter. Finally, Access Investment Management LLC bought a new position in Southern in the second quarter valued at about $40,000. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Price Performance

Shares of NYSE:SO opened at $87.51 on Tuesday. The firm has a market cap of $96.35 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 2.81 and a beta of 0.45. Southern Company has a 52 week low of $80.46 and a 52 week high of $100.83. The firm’s fifty day moving average is $89.77 and its 200-day moving average is $92.12. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.59 and a current ratio of 0.75.

Southern (NYSE:SO) last announced its earnings results on Wednesday, October 29th. The utilities provider reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.09. Southern had a return on equity of 12.52% and a net margin of 15.42%.The business had revenue of $7.82 billion during the quarter, compared to analyst estimates of $8.04 billion. During the same period last year, the company earned $1.39 EPS. Southern’s revenue for the quarter was up 7.5% compared to the same quarter last year. Sell-side analysts predict that Southern Company will post 4.29 earnings per share for the current year.

Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 8th. Investors of record on Monday, November 17th were issued a $0.74 dividend. The ex-dividend date was Monday, November 17th. This represents a $2.96 annualized dividend and a yield of 3.4%. Southern’s dividend payout ratio is presently 73.27%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SO shares. Jefferies Financial Group dropped their target price on shares of Southern from $104.00 to $93.00 and set a “neutral” rating for the company in a report on Monday, December 15th. Wells Fargo & Company initiated coverage on shares of Southern in a research report on Monday, October 27th. They set an “equal weight” rating and a $97.00 price objective for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern in a research note on Wednesday, October 8th. Morgan Stanley reiterated an “underperform” rating and set a $97.00 price target on shares of Southern in a report on Thursday, November 20th. Finally, Wall Street Zen downgraded Southern from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $96.21.

About Southern

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.