Gateway Investment Advisers LLC Sells 7,919 Shares of Southern Co (NYSE:SO)

Gateway Investment Advisers LLC lessened its holdings in Southern Co (NYSE:SO) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,672 shares of the utilities provider’s stock after selling 7,919 shares during the period. Gateway Investment Advisers LLC’s holdings in Southern were worth $8,544,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Iberiabank Corp lifted its holdings in Southern by 6.5% in the third quarter. Iberiabank Corp now owns 151,315 shares of the utilities provider’s stock valued at $7,437,000 after acquiring an additional 9,232 shares during the last quarter. Atlantic Trust Group LLC lifted its stake in Southern by 13.4% during the third quarter. Atlantic Trust Group LLC now owns 23,732 shares of the utilities provider’s stock worth $1,166,000 after purchasing an additional 2,804 shares in the last quarter. Confluence Investment Management LLC lifted its stake in Southern by 2.8% during the fourth quarter. Confluence Investment Management LLC now owns 2,050,249 shares of the utilities provider’s stock worth $98,596,000 after purchasing an additional 55,264 shares in the last quarter. National Pension Service lifted its stake in Southern by 3.7% during the fourth quarter. National Pension Service now owns 842,651 shares of the utilities provider’s stock worth $40,523,000 after purchasing an additional 30,381 shares in the last quarter. Finally, Synovus Financial Corp lifted its stake in Southern by 7.2% during the third quarter. Synovus Financial Corp now owns 931,263 shares of the utilities provider’s stock worth $45,761,000 after purchasing an additional 62,321 shares in the last quarter. Institutional investors own 53.64% of the company’s stock.

Shares of Southern Co (NYSE:SO) traded up $0.93 during trading hours on Friday, reaching $44.33. 11,002,996 shares of the company were exchanged, compared to its average volume of 8,190,000. Southern Co has a 1 year low of $42.63 and a 1 year high of $53.51. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.57 and a current ratio of 0.73. The firm has a market capitalization of $44,490.00, a P/E ratio of 79.16, a P/E/G ratio of 3.29 and a beta of 0.03.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Tuesday, February 20th will be issued a $0.58 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $2.32 dividend on an annualized basis and a yield of 5.23%. Southern’s dividend payout ratio (DPR) is presently 414.29%.

A number of analysts have recently weighed in on SO shares. Zacks Investment Research lowered Southern from a “hold” rating to a “sell” rating in a research report on Monday, January 15th. Goldman Sachs Group reaffirmed a “sell” rating on shares of Southern in a research report on Wednesday, January 10th. SunTrust Banks reissued a “hold” rating and issued a $50.00 target price on shares of Southern in a report on Tuesday, December 26th. Mizuho reissued a “buy” rating and issued a $52.00 target price on shares of Southern in a report on Tuesday, December 26th. Finally, JPMorgan Chase & Co. began coverage on Southern in a report on Friday, January 12th. They issued an “underweight” rating and a $46.00 target price on the stock. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $50.50.

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About Southern

The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.

Institutional Ownership by Quarter for Southern (NYSE:SO)

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