HBK Sorce Advisory LLC bought a new stake in shares of Southern Company (The) (NYSE:SO – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 9,437 shares of the utilities provider’s stock, valued at approximately $879,000.
Other large investors also recently made changes to their positions in the company. Marble Wealth LLC acquired a new position in shares of Southern during the 4th quarter valued at about $4,443,000. D.A. Davidson & CO. lifted its holdings in Southern by 20.5% in the 4th quarter. D.A. Davidson & CO. now owns 99,386 shares of the utilities provider’s stock worth $8,667,000 after purchasing an additional 16,878 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in Southern in the 4th quarter worth approximately $2,462,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Southern by 19.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 201,137 shares of the utilities provider’s stock worth $17,539,000 after purchasing an additional 32,933 shares during the period. Finally, Mawer Investment Management Ltd. boosted its position in Southern by 121.4% during the fourth quarter. Mawer Investment Management Ltd. now owns 1,767,773 shares of the utilities provider’s stock worth $154,150,000 after purchasing an additional 969,493 shares during the period. Institutional investors and hedge funds own 64.10% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have recently commented on the stock. Raymond James Financial reissued an “outperform” rating and issued a $104.00 price target on shares of Southern in a research report on Friday, May 1st. Morgan Stanley reaffirmed an “underweight” rating on shares of Southern in a report on Wednesday, July 22nd. Mizuho set a $106.00 target price on shares of Southern in a research note on Friday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern in a report on Wednesday, July 29th. Finally, Barclays cut their target price on shares of Southern from $99.00 to $98.00 and set an “equal weight” rating for the company in a research report on Thursday, June 18th. Seven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $100.09.
Southern Stock Performance
Shares of NYSE SO opened at $92.83 on Monday. Southern Company has a 12 month low of $83.80 and a 12 month high of $100.83. The company has a market cap of $106.79 billion, a P/E ratio of 22.26, a P/E/G ratio of 1.78 and a beta of 0.34. The business’s 50 day moving average is $94.69 and its two-hundred day moving average is $94.35. 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 posted its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.12. The company had revenue of $6.98 billion during the quarter, compared to analysts’ expectations of $7.23 billion. Southern had a return on equity of 12.93% and a net margin of 15.43%.Southern’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.79 earnings per share. On average, equities analysts expect that Southern Company will post 4.58 EPS for the current year.
Southern Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 17th will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.3%. The ex-dividend date is Monday, August 17th. Southern’s dividend payout ratio (DPR) is currently 72.90%.
Southern Company 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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