Nykredit A S Makes New Investment in Southern Company (The) $SO

Nykredit A S purchased a new stake in shares of Southern Company (The) (NYSE:SOFree Report) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 108,591 shares of the utilities provider’s stock, valued at approximately $10,393,000.

Several other large investors have also recently bought and sold shares of the company. Evergreen Advisors LLC bought a new stake in shares of Southern during the first quarter worth $25,000. Scarborough Advisors LLC bought a new position in Southern in the first quarter valued at about $25,000. Ankerstar Wealth LLC acquired a new stake in Southern in the fourth quarter worth about $25,000. Cornerstone Financial Management LLC acquired a new stake in Southern in the fourth quarter worth about $27,000. Finally, J.Safra Asset Management Corp bought a new stake in Southern during the 4th quarter worth about $27,000. Institutional investors and hedge funds own 64.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SO shares. Barclays reduced 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. Jefferies Financial Group set a $99.00 price objective on shares of Southern in a research note on Monday, June 22nd. Truist Financial dropped their target price on shares of Southern from $100.00 to $97.00 and set a “hold” rating for the company in a research report on Thursday, August 13th. Morgan Stanley reduced their price target on Southern from $92.00 to $89.00 and set an “underweight” rating on the stock in a research report on Friday, August 21st. Finally, JPMorgan Chase & Co. lifted their price objective on Southern from $101.00 to $104.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $100.09.

Get Our Latest Report on Southern

Southern Stock Down 1.0%

NYSE:SO opened at $87.90 on Friday. Southern Company has a 1 year low of $83.80 and a 1 year high of $100.83. The stock has a 50-day moving average price of $93.40 and a two-hundred day moving average price of $94.26. The stock has a market cap of $101.12 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 2.35 and a beta of 0.33. The company has a current ratio of 0.79, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62.

Southern (NYSE:SOGet Free Report) last released its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.12. Southern had a return on equity of 12.93% and a net margin of 15.43%.The company had revenue of $6.98 billion for the quarter, compared to analyst estimates of $7.23 billion. During the same quarter last year, the firm posted $0.79 earnings per share. Southern’s revenue was up .1% compared to the same quarter last year. As a group, equities analysts expect that Southern Company will post 4.59 earnings per share for the current year.

Southern Announces Dividend

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 issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.5%. The ex-dividend date is Monday, August 17th. Southern’s dividend payout ratio (DPR) is 72.90%.

Southern Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Southern (NYSE:SO)

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