Regent Peak Wealth Advisors LLC raised its holdings in shares of Southern Company (The) (NYSE:SO – Free Report) by 54.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,560 shares of the utilities provider’s stock after purchasing an additional 7,280 shares during the quarter. Regent Peak Wealth Advisors LLC’s holdings in Southern were worth $1,968,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in SO. Wedge Capital Management L L P NC bought a new position in shares of Southern in the second quarter worth about $232,000. JFS Wealth Advisors LLC lifted its holdings in Southern by 28.5% during the 2nd quarter. JFS Wealth Advisors LLC now owns 1,655 shares of the utilities provider’s stock valued at $158,000 after buying an additional 367 shares in the last quarter. Tema ETFs LLC boosted its position in Southern by 10.3% in the 2nd quarter. Tema ETFs LLC now owns 20,157 shares of the utilities provider’s stock valued at $1,929,000 after buying an additional 1,885 shares during the period. Charles Schwab Trust Co boosted its position in Southern by 20.8% in the 2nd quarter. Charles Schwab Trust Co now owns 2,900 shares of the utilities provider’s stock valued at $278,000 after buying an additional 500 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in Southern by 2.2% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,797 shares of the utilities provider’s stock worth $3,330,000 after acquiring an additional 755 shares in the last quarter. 64.10% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on SO shares. Jefferies Financial Group set a $99.00 target price on shares of Southern in a research report on Monday, June 22nd. Raymond James Financial reiterated an “outperform” rating and issued a $104.00 price target on shares of Southern in a report on Friday, May 1st. Wall Street Zen cut Southern from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. KeyCorp lowered Southern from a “sector weight” rating to an “underweight” rating and set a $79.00 target price for the company. in a research report on Thursday, July 23rd. Finally, Mizuho set a $106.00 target price on Southern in a report on Friday, July 31st. Seven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $100.26.
Southern Stock Performance
SO stock opened at $92.26 on Thursday. The firm has a 50-day simple moving average of $94.66 and a two-hundred day simple moving average of $94.28. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.59 and a current ratio of 0.79. Southern Company has a one year low of $83.80 and a one year high of $100.83. The firm has a market cap of $106.13 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.77 and a beta of 0.34.
Southern (NYSE:SO – Get Free Report) last posted its earnings results on Wednesday, July 29th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $7.23 billion. During the same quarter in the prior year, the company posted $0.79 earnings per share. Southern’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities analysts forecast that Southern Company will post 4.58 EPS for the current fiscal year.
Southern Announces Dividend
The firm also recently declared 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. The ex-dividend date 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 (DPR) is 72.90%.
About Southern
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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