Uptick Partners LLC bought a new position in Southern Company (The) (NYSE:SO – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 7,754 shares of the utilities provider’s stock, valued at approximately $742,000.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Csenge Advisory Group bought a new stake in Southern during the second quarter valued at about $5,886,000. AssuredPartners Investment Advisors LLC bought a new position in shares of Southern in the second quarter worth about $1,308,000. Shepherd Financial Partners LLC purchased a new position in shares of Southern during the 2nd quarter valued at about $861,000. one8zero8 LLC purchased a new position in shares of Southern during the 2nd quarter valued at about $765,000. Finally, Kentucky Farm Bureau Mutual Insurance Co bought a new position in shares of Southern during the 2nd quarter valued at approximately $1,531,000. 64.10% of the stock is currently owned by hedge funds and other institutional investors.
Southern Stock Up 0.2%
Shares of SO stock opened at $92.22 on Thursday. The stock has a market cap of $106.09 billion, a P/E ratio of 22.12, a PEG 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. 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’s fifty day simple moving average is $94.66 and its two-hundred day simple moving average is $94.42.
Southern Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.04 dividend on an annualized basis and a yield of 3.3%. Southern’s dividend payout ratio is presently 72.90%.
Analysts Set New Price Targets
SO has been the topic of several analyst reports. Raymond James Financial reaffirmed an “outperform” rating and set a $104.00 price target on shares of Southern in a report on Friday, May 1st. Truist Financial decreased their price objective on shares of Southern from $100.00 to $97.00 and set a “hold” rating on the stock in a research report on Thursday, August 13th. Barclays lowered their target price on shares of Southern from $99.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 18th. KeyCorp downgraded shares of Southern from a “sector weight” rating to an “underweight” rating and set a $79.00 target price for the company. in a report on Thursday, July 23rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Southern in a research report on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $100.09.
Read Our Latest Stock Analysis on Southern
Southern 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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