Diversify Advisory Services LLC bought a new position in Southern Company (The) (NYSE:SO – Free Report) in the 2nd quarter, Holdings Channel reports. The firm bought 14,219 shares of the utilities provider’s stock, valued at approximately $1,372,000.
A number of other large investors have also recently made changes to their positions in SO. Vanguard Group Inc. grew its holdings in Southern by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 108,057,413 shares of the utilities provider’s stock valued at $9,422,606,000 after purchasing an additional 1,643,090 shares during the last quarter. Capital World Investors grew its stake in shares of Southern by 22.6% during the fourth quarter. Capital World Investors now owns 41,142,076 shares of the utilities provider’s stock valued at $3,587,589,000 after buying an additional 7,593,224 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Southern by 18.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 34,459,462 shares of the utilities provider’s stock valued at $3,004,866,000 after buying an additional 5,436,212 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Southern by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 27,259,125 shares of the utilities provider’s stock worth $2,381,344,000 after buying an additional 384,860 shares during the period. Finally, Norges Bank bought a new stake in shares of Southern during the 4th quarter worth approximately $1,111,450,000. 64.10% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on SO. Raymond James Financial restated an “outperform” rating and set a $104.00 price objective on shares of Southern in a report on Friday, May 1st. Mizuho set a $106.00 target price on Southern in a research report on Friday, July 31st. BMO Capital Markets upped their price target on shares of Southern from $102.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Jefferies Financial Group set a $99.00 price target on shares of Southern in a research note on Monday, June 22nd. Finally, Barclays decreased their price objective on shares of Southern from $99.00 to $98.00 and set an “equal weight” rating for the company in a report on Thursday, June 18th. Seven analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Southern has an average rating of “Hold” and an average price target of $100.09.
Southern Stock Performance
Shares of NYSE:SO opened at $92.22 on Thursday. The firm has a 50 day moving average of $94.66 and a 200 day moving average of $94.42. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $106.09 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.77 and a beta of 0.34. Southern Company has a 52 week low of $83.80 and a 52 week high of $100.83.
Southern (NYSE:SO – Get Free Report) last announced its earnings results on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.12. The business had revenue of $6.98 billion for the quarter, compared to analysts’ expectations of $7.23 billion. Southern had a return on equity of 12.93% and a net margin of 15.43%.The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 EPS. On average, sell-side analysts predict that Southern Company will post 4.58 earnings per share for the current fiscal year.
Southern Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 17th will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.3%. The ex-dividend date is Monday, August 17th. Southern’s payout ratio is 72.90%.
Southern Company Profile
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.
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