Ashlee, the pic is kind of foggy but it looks like the wires will feed water down the goose neck. So, it needs to be corrected.
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Welcome to our forum, Ashlee!..Enjoy! 
Thanks for the feedback!
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Overhead service.
Drip loop in place.
A: PoCo and SEC neutral and not spliced properly.
B: The Poco neutral termination is frayed. This reduces the AWG.
C: The SEC neutral is unraveled. The cables should be wound tightly to conduct current properly.
I am sure Robert M can explain this better than myself.