Hennessy Advisors Inc. grew its position in Southern Company (The) (NYSE:SO – Free Report) by 2.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 271,100 shares of the utilities provider’s stock after buying an additional 7,200 shares during the period. Hennessy Advisors Inc.’s holdings in Southern were worth $22,471,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Legal & General Group Plc bought a new position in shares of Southern during the 2nd quarter worth approximately $737,256,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Southern in the second quarter valued at about $264,829,000. Hsbc Holdings PLC acquired a new position in Southern during the second quarter valued at approximately $191,120,000. Energy Income Partners LLC bought a new position in Southern in the second quarter valued at approximately $166,114,000. Finally, Jupiter Topco LLC acquired a new position in shares of Southern during the 2nd quarter worth approximately $157,217,000. Institutional investors own 64.10% of the company’s stock.
Analyst Ratings Changes
SO has been the topic of several research analyst reports. Jefferies Financial Group lowered their price target on shares of Southern from $96.00 to $95.00 and set a “hold” rating on the stock in a report on Tuesday, October 20th. JPMorgan Chase & Co. dropped their price target on shares of Southern from $101.00 to $94.00 and set a “neutral” rating for the company in a research report on Tuesday, October 13th. DA Davidson set a $98.00 target price on Southern in a research report on Wednesday, October 21st. Barclays dropped their price target on Southern from $101.00 to $92.00 and set an “equal weight” rating for the company in a research note on Friday, October 16th. Finally, Truist Financial cut their price target on shares of Southern from $97.00 to $93.00 and set a “hold” rating for the company in a report on Thursday, October 15th. Eight equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $98.24.
Check Out Our Latest Stock Analysis on SO
Southern Price Performance
Southern stock opened at $93.70 on Monday. The company’s 50 day moving average price is $87.78 and its two-hundred day moving average price is $92.35. The stock has a market cap of $107.79 billion, a P/E ratio of 22.47, a P/E/G ratio of 2.46 and a beta of 0.30. Southern Company has a 52 week low of $81.69 and a 52 week high of $99.58. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 1.62.
Southern (NYSE:SO – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.01 by $0.12. Southern had a net margin of 15.43% and a return on equity of 12.93%. The company had revenue of $6.98 billion during the quarter, compared to the consensus estimate of $7.23 billion. During the same period last year, the firm earned $0.79 EPS. Southern’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities analysts predict that Southern Company will post 4.59 earnings per share for the current year.
Southern Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 7th. Shareholders of record on Monday, November 16th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.2%. The ex-dividend date is Monday, November 16th. Southern’s dividend payout ratio is presently 72.90%.
Southern Profile
Southern Company (NYSE: SO) is an energy holding company headquartered in Atlanta, Georgia. Through its subsidiaries, the company generates, transmits, distributes and sells electricity, while also providing natural gas distribution and related energy services.
Southern’s electric utility operations include Alabama Power, Georgia Power and Mississippi Power, which serve customers across Alabama, Georgia and Mississippi. The company’s generation portfolio includes nuclear, natural gas, coal, hydroelectric and renewable energy resources.
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