Soroban Capital Partners 13F: Cuts SO Stake by $356M

Soroban Capital Partners Trims Utility Holding

Soroban Capital Partners scaled back its investment in The Southern Company NYSE:SO, according to a Form 13F filed with the U.S. Securities and Exchange Commission for the period ended May 15, 2026. Institutional filings like this one look backward and may not reflect the investor's current holdings today. The firm reduced its position significantly during the period, making a notable change to its portfolio in the utility sector.

Inside Soroban's Share Reduction

During the reporting period, the fund cut 3,718,097 shares from its portfolio. That marked a 61.0% decrease from its prior stake of 6,093,608 shares. Soroban finished the period with 2,375,511 shares remaining. Based on the valuation provided in the filing, that leftover stake was worth about $227.4 million.

Stock Price And Market Position

The Southern Company shares trade near a spot price of $95.71 on the New York Stock Exchange. The stock has moved between a 52-week low of $83.80 and a 52-week high of $100.84. With a P/E ratio of 20.6 and a forward P/E of 17.4, the company trades below its yearly peak as investors weigh the broader utility landscape.

Dividend And Payout Details

The company pays an annual dividend of $3.04 per share, giving it a dividend yield of 3.55% at current trading levels. That payout is supported by a dividend payout ratio of 71.8% based on recent earnings.

Wall Street Analyst Updates

Analyst firms continue to review their targets for the utility provider as market conditions shift. On October 15, 2026, Truist Securities maintained its Hold rating while lowering its price target to $93.00 from $97.00. JP Morgan kept a Neutral rating on October 13, 2026, moving its target from $101.00 down to $94.00. Keybanc maintained an Underweight rating on the same day, adjusting its target from $79.00 to $74.00. Earlier, Citigroup maintained a Buy rating on September 25, 2026, with a target of $104.00, while Morgan Stanley kept an Underweight rating on September 18, 2026, moving its target to $85.00. Across the broader analyst community, the stock holds a consensus Hold rating and a mean price target of $99.76 based on 19 opinions.

Regulated Electric Operations

The Southern Company operates as a major utility provider through its subsidiaries, supplying regulated electric service and energy solutions to retail and wholesale customers. It also manages power generation assets, battery storage projects, and natural gas distribution networks across multiple states. This asset-heavy business model provides steady, regulated cash flows that often attract large institutional investors looking for defensive holdings.

What to Watch at The Southern Company

Observers will need to wait for subsequent quarterly filings to see whether Soroban Capital Partners continues to pare back its position or stabilizes its holdings. The company's next earnings report is scheduled for October 29, 2026, which will offer fresh insight into its revenue and profit growth.