36,742 Shares in Southern Company (The) $SO Bought by Family Legacy Inc.

Key Points

• Family Legacy Inc. acquired 36,742 shares of Southern Company during the second quarter, valued at approximately $3.52 million. Institutional investors and hedge funds collectively own 64.1% of the utility’s stock.
• Southern reported quarterly EPS of $1.13, beating analyst estimates of $1.01, while revenue of $6.98 billion fell short of expectations. Revenue increased slightly year over year.
• The company declared a quarterly dividend of $0.76 per share, equivalent to an annualized dividend of $3.04 and a 3.3% yield. Analysts maintain an overall “Hold” rating, with an average price target of $100.09 versus the stock’s $92.83 opening price.

Family Legacy Inc. acquired a new stake in Southern Company (The) (NYSE:SO - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 36,742 shares of the utilities provider's stock, valued at approximately $3,517,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Evergreen Advisors LLC acquired a new stake in Southern in the 1st quarter valued at approximately $25,000. Scarborough Advisors LLC acquired a new position in Southern during the 1st quarter worth approximately $25,000. Ankerstar Wealth LLC bought a new position in shares of Southern during the 4th quarter worth approximately $25,000. Triumph Capital Management acquired a new stake in shares of Southern in the third quarter valued at approximately $29,000. Finally, Cornerstone Financial Management LLC acquired a new stake in shares of Southern in the fourth quarter valued at approximately $27,000. 64.10% of the stock is owned by institutional investors and hedge funds.

Southern Stock Up 0.0%

Southern stock opened at $92.83 on Friday. The firm has a market capitalization of $106.79 billion, a PE ratio of 22.26, a P/E/G ratio of 1.78 and a beta of 0.34. The company's 50-day moving average is $94.69 and its 200-day moving average is $94.31. Southern Company has a fifty-two week low of $83.80 and a fifty-two week high of $100.83. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.79 and a quick ratio of 0.59.

Southern (NYSE:SO - Get Free Report) last issued its earnings results on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share (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 for the quarter, compared to analysts' expectations of $7.23 billion. During the same period in the prior year, the firm earned $0.79 EPS. Southern's quarterly revenue was up .1% compared to the same quarter last year. Sell-side analysts anticipate that Southern Company will post 4.58 earnings per share for the current year.

Southern Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 3.3%. Southern's dividend payout ratio is currently 72.90%.

Analysts Set New Price Targets

Several brokerages recently commented on SO. Raymond James Financial restated an "outperform" rating and set a $104.00 target price on shares of Southern in a report on Friday, May 1st. KeyCorp lowered shares of Southern from a "sector weight" rating to an "underweight" rating and set a $79.00 price target on the stock. in a research note on Thursday, July 23rd. Morgan Stanley restated an "underweight" rating on shares of Southern in a research note on Wednesday, July 22nd. Truist Financial decreased their price objective on Southern from $100.00 to $97.00 and set a "hold" rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on Southern from $101.00 to $104.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. 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 company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $100.09.

Southern 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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