11,459 Shares in Southern Company (The) $SO Purchased by Mosley Wealth Management

Key Points

• Mosley Wealth Management initiated a new position in Southern Company, buying 11,459 shares worth about $1.1 million in the fourth quarter.
• Southern reported strong quarterly results, with EPS of $1.32 versus estimates of $1.21 and revenue of $8.40 billion, both beating expectations and up 8% year over year.
• The utility also raised its quarterly dividend to $0.76 per share from $0.74, putting the annualized payout at $3.04 and the yield at about 3.3%.

Mosley Wealth Management bought a new position in shares of Southern Company (The) (NYSE:SO - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,459 shares of the utilities provider's stock, valued at approximately $1,102,000.

Several other institutional investors have also recently made changes to their positions in SO. Capital World Investors grew its position in shares of Southern by 320.3% during the third quarter. Capital World Investors now owns 33,548,852 shares of the utilities provider's stock worth $3,179,425,000 after purchasing an additional 25,567,431 shares in the last quarter. Norges Bank bought a new stake in shares of Southern in the fourth quarter worth about $1,111,450,000. Soroban Capital Partners LP increased its holdings in shares of Southern by 83.8% in the second quarter. Soroban Capital Partners LP now owns 4,097,422 shares of the utilities provider's stock worth $376,266,000 after purchasing an additional 1,867,912 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Southern by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 108,057,413 shares of the utilities provider's stock worth $9,422,606,000 after purchasing an additional 1,643,090 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Southern by 1,518.4% in the second quarter. Canada Pension Plan Investment Board now owns 1,044,101 shares of the utilities provider's stock worth $95,880,000 after purchasing an additional 979,587 shares during the last quarter. Hedge funds and other institutional investors own 64.10% of the company's stock.

Southern Stock Performance

Shares of SO opened at $93.37 on Friday. Southern Company has a 12 month low of $83.80 and a 12 month high of $100.83. The stock has a fifty day moving average price of $94.01 and a 200-day moving average price of $91.94. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 1.68. The firm has a market cap of $105.25 billion, a PE ratio of 23.76, a P/E/G ratio of 2.84 and a beta of 0.34.

Southern (NYSE:SO - Get Free Report) last released its earnings results on Wednesday, April 29th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.11. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.07 billion. Southern had a return on equity of 12.64% and a net margin of 14.46%.The firm's revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.23 EPS. Equities research analysts predict that Southern Company will post 4.58 earnings per share for the current fiscal year.

Southern Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Monday, May 18th were given a dividend of $0.76 per share. This is a boost from Southern's previous quarterly dividend of $0.74. The ex-dividend date was Monday, May 18th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.3%. Southern's payout ratio is 77.35%.

Insider Transactions at Southern

In related news, EVP Christopher Cummiskey sold 6,669 shares of the firm's stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $96.55, for a total value of $643,891.95. Following the transaction, the executive vice president directly owned 30,800 shares of the company's stock, valued at approximately $2,973,740. This trade represents a 17.80% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kimberly S. Greene sold 25,000 shares of the firm's stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $96.67, for a total transaction of $2,416,750.00. Following the completion of the transaction, the chief executive officer directly owned 103,602 shares in the company, valued at $10,015,205.34. This represents a 19.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.16% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Barclays lifted their target price on Southern from $88.00 to $99.00 and gave the stock an "equal weight" rating in a report on Friday, April 10th. Mizuho set a $105.00 price objective on Southern in a research note on Friday, May 1st. Raymond James Financial reissued an "outperform" rating and set a $104.00 price objective on shares of Southern in a research note on Friday, May 1st. KeyCorp raised Southern from an "underweight" rating to a "sector weight" rating in a research note on Wednesday, March 4th. Finally, Truist Financial reduced their price objective on Southern from $103.00 to $100.00 and set a "hold" rating on the stock in a research note on Friday, May 29th. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Southern currently has an average rating of "Hold" and a consensus price target of $99.38.

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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