26,807 Shares in Southern Company (The) $SO Purchased by Aurora Investment Counsel

Key Points

• Aurora Investment Counsel acquired 26,807 shares of Southern Company in the second quarter, valued at approximately $2.6 million and representing about 1.3% of its portfolio. Institutional investors collectively own 64.1% of Southern’s stock.
• Southern reported quarterly earnings of $1.13 per share, exceeding analysts’ $1.01 estimate, while revenue totaled $6.98 billion. Analysts expect full-year earnings of approximately $4.58 per share.
• The company declared a quarterly dividend of $0.76 per share, implying an annualized dividend of $3.04 and a 3.3% yield. Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $100.09.

Aurora Investment Counsel acquired a new stake in Southern Company (The) (NYSE:SO - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 26,807 shares of the utilities provider's stock, valued at approximately $2,566,000. Southern comprises about 1.3% of Aurora Investment Counsel's portfolio, making the stock its 14th largest position.

Other institutional investors have also bought and sold shares of the company. Marble Wealth LLC purchased a new position in Southern in the fourth quarter valued at $4,443,000. D.A. Davidson & CO. increased its holdings in Southern by 20.5% during 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 period. Wolverine Asset Management LLC acquired a new stake in Southern in the 4th quarter valued at about $2,462,000. Mawer Investment Management Ltd. raised its position in Southern by 121.4% in the 4th quarter. Mawer Investment Management Ltd. now owns 1,767,773 shares of the utilities provider's stock valued at $154,150,000 after purchasing an additional 969,493 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its stake in shares of Southern by 29.2% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 50,628 shares of the utilities provider's stock valued at $4,887,000 after buying an additional 11,448 shares during the period. 64.10% of the stock is owned by hedge funds and other institutional investors.

Southern Stock Performance

Shares of SO opened at $92.22 on Thursday. The company has a market capitalization of $106.09 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.77 and a beta of 0.34. Southern Company has a 52-week low of $83.80 and a 52-week high of $100.83. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 1.62. The stock has a 50 day moving average price of $94.66 and a 200 day moving average price of $94.42.

Southern (NYSE:SO - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.12. The company had revenue of $6.98 billion for the quarter, compared to analysts' expectations of $7.23 billion. Southern had a net margin of 15.43% and a return on equity of 12.93%. The firm's revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the company earned $0.79 earnings per share. Research analysts predict that Southern Company will post 4.58 EPS for the current fiscal year.

Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, August 17th. Southern's dividend payout ratio (DPR) is 72.90%.

Analysts Set New Price Targets

A number of research firms recently weighed in on SO. KeyCorp lowered shares of Southern from a "sector weight" rating to an "underweight" rating and set a $79.00 target price on the stock. in a research note on Thursday, July 23rd. BMO Capital Markets lifted their price target on shares of Southern from $102.00 to $104.00 and gave the stock an "outperform" rating in a research note on Monday, July 27th. Raymond James Financial reiterated an "outperform" rating and set a $104.00 price target on shares of Southern in a report on Friday, May 1st. Morgan Stanley reissued an "underweight" rating on shares of Southern in a research report on Wednesday, July 22nd. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Southern in a report on Wednesday, July 29th. Seven research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $100.09.

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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