Laurel Wealth Advisors LLC Boosts Stock Position in Southern Company (The) $SO

Laurel Wealth Advisors LLC grew its stake in Southern Company (The) (NYSE:SO) by 9,099.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,421,331 shares of the utilities provider’s stock after purchasing an additional 4,373,271 shares during the period. Laurel Wealth Advisors LLC’s holdings in Southern were worth $406,011,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SO. Ameriflex Group Inc. lifted its position in Southern by 275.0% in 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 during the period. Cheviot Value Management LLC acquired a new position in Southern during the first quarter worth $28,000. Advantage Trust Co raised its position in Southern by 1,428.6% in the second quarter. Advantage Trust Co now owns 321 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 300 shares in the last quarter. Financial Connections Group Inc. acquired a new stake in Southern in the first quarter valued at $33,000. Finally, Accredited Wealth Management LLC purchased a new stake in shares of Southern during the 1st quarter worth $36,000. 64.10% of the stock is owned by institutional investors and hedge funds.

Southern Stock Performance

Shares of SO opened at $89.17 on Tuesday. Southern Company has a 1 year low of $80.46 and a 1 year high of $100.83. The company’s 50 day simple moving average is $93.84 and its 200 day simple moving average is $92.44. The company has a market capitalization of $98.19 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 3.31 and a beta of 0.45. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.54 and a current ratio of 0.74.

Southern (NYSE:SO) last issued its quarterly earnings results on Wednesday, October 29th. The utilities provider reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.09. Southern had a return on equity of 12.09% and a net margin of 15.10%.The company had revenue of $7.82 billion during the quarter, compared to the consensus estimate of $8.04 billion. During the same period in the previous year, the firm posted $1.39 EPS. Southern’s revenue was up 7.5% on a year-over-year basis. On average, sell-side analysts predict that Southern Company will post 4.29 EPS for the current year.

Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 8th. Investors of record on Monday, November 17th will be given a dividend of $0.74 per share. The ex-dividend date is Monday, November 17th. This represents a $2.96 annualized dividend and a yield of 3.3%. Southern’s dividend payout ratio is 73.27%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SO. LADENBURG THALM/SH SH reissued a “neutral” rating and set a $102.50 price objective (up previously from $99.50) on shares of Southern in a report on Friday, October 17th. Wall Street Zen raised Southern from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. UBS Group boosted their price objective on shares of Southern from $100.00 to $104.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Wells Fargo & Company initiated coverage on shares of Southern in a report on Monday, October 27th. They issued an “equal weight” rating and a $97.00 price target on the stock. Finally, Evercore ISI assumed coverage on shares of Southern in a research note on Monday, October 6th. They set an “in-line” rating and a $103.00 price objective for the company. One investment 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $99.03.

About Southern

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.