KCM Investment Advisors LLC Acquires 750 Shares of Southern Company (The) $SO

KCM Investment Advisors LLC increased its holdings in Southern Company (The) (NYSE:SO) by 2.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,476 shares of the utilities provider’s stock after acquiring an additional 750 shares during the quarter. KCM Investment Advisors LLC’s holdings in Southern were worth $3,074,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Ameriflex Group Inc. lifted its position in shares of Southern by 275.0% in the 2nd quarter. Ameriflex Group Inc. now owns 300 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 220 shares during the period. Cheviot Value Management LLC purchased a new position in shares of Southern during the first quarter valued at about $28,000. Advantage Trust Co raised its stake 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 buying an additional 300 shares in the last quarter. Financial Connections Group Inc. purchased a new stake in Southern in the first quarter worth about $33,000. Finally, Accredited Wealth Management LLC purchased a new stake in Southern in the first quarter worth about $36,000. 64.10% of the stock is owned by hedge funds and other institutional investors.

Southern Stock Performance

Shares of Southern stock opened at $91.39 on Friday. Southern Company has a 1 year low of $80.46 and a 1 year high of $100.83. The firm’s 50-day moving average is $94.19 and its 200 day moving average is $92.50. The stock has a market cap of $100.63 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 3.31 and a beta of 0.45. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.74 and a quick ratio of 0.54.

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

Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Investors of record on Monday, November 17th will be given a $0.74 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $2.96 annualized dividend and a yield of 3.2%. Southern’s dividend payout ratio is 73.27%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on Southern from $97.00 to $98.00 and gave the company a “neutral” rating in a research report on Thursday, August 21st. TD Cowen began coverage on Southern in a research note on Thursday, October 16th. They issued a “buy” rating and a $112.00 price target on the stock. Barclays set a $70.00 price objective on Southern in a research report on Tuesday, October 14th. Finally, Morgan Stanley restated an “outperform” rating and set a $99.00 target price on shares of Southern in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Southern currently has a consensus rating of “Hold” and an average price target of $99.56.

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.