Allworth Financial LP Has $16.42 Million Stake in Southern Company (The) $SO

Allworth Financial LP lowered its stake in Southern Company (The) (NYSE:SO - Free Report) by 27.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,520 shares of the utilities provider's stock after selling 65,537 shares during the quarter. Allworth Financial LP's holdings in Southern were worth $16,416,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Marble Wealth LLC acquired a new position in shares of Southern during the fourth quarter valued at about $4,443,000. Mawer Investment Management Ltd. raised its holdings in shares of Southern by 121.4% in the 4th quarter. Mawer Investment Management Ltd. now owns 1,767,773 shares of the utilities provider's stock worth $154,150,000 after acquiring an additional 969,493 shares during the last quarter. OMERS ADMINISTRATION Corp raised its holdings 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 worth $4,887,000 after acquiring an additional 11,448 shares during the last quarter. MUFG Securities EMEA plc lifted its position in Southern by 114.2% in the 4th quarter. MUFG Securities EMEA plc now owns 45,112 shares of the utilities provider's stock valued at $3,934,000 after acquiring an additional 24,056 shares in the last quarter. Finally, Glenmede Trust Co. NA lifted its position in Southern by 19.1% in the 1st quarter. Glenmede Trust Co. NA now owns 92,289 shares of the utilities provider's stock valued at $8,908,000 after acquiring an additional 14,798 shares in the last quarter. Institutional investors and hedge funds own 64.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. BMO Capital Markets boosted their price objective on Southern from $102.00 to $104.00 and gave the stock an "outperform" rating in a report on Monday, July 27th. KeyCorp lowered Southern from a "sector weight" rating to an "underweight" rating and set a $79.00 target price on the stock. in a report on Thursday, July 23rd. Truist Financial cut their target price on Southern from $100.00 to $97.00 and set a "hold" rating on the stock in a research report on Thursday, August 13th. JPMorgan Chase & Co. upped their price target on Southern from $101.00 to $104.00 and gave the stock a "neutral" rating in a report on Thursday, July 16th. Finally, Barclays lowered their price target on 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 equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $100.09.

Southern Price Performance

Shares of NYSE SO opened at $89.09 on Wednesday. The company has a market capitalization of $102.49 billion, a PE ratio of 21.36, a PEG ratio of 2.35 and a beta of 0.33. 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's 50 day moving average price is $93.09 and its 200-day moving average price is $94.21. Southern Company has a twelve month low of $83.80 and a twelve month high of $100.83.

Southern (NYSE:SO - Get Free Report) last issued its quarterly 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 return on equity of 12.93% and a net margin of 15.43%.The company had revenue of $6.98 billion during the quarter, compared to the consensus estimate of $7.23 billion. During the same period last year, the business posted $0.79 earnings per share. Southern's revenue was up .1% on a year-over-year basis. On average, equities analysts anticipate that Southern Company will post 4.59 EPS for the current year.

Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 17th were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Monday, August 17th. Southern's payout ratio is presently 72.90%.

About Southern

Southern Company NYSE: SO is an energy holding company that provides electricity and natural gas services through a group of regulated utility subsidiaries. Its electric utilities generate, transmit and distribute power to residential, commercial and industrial customers, while its gas businesses distribute natural gas and provide related energy services.

The company's principal electric subsidiaries include Alabama Power, Georgia Power and Mississippi Power. Southern Company also operates Southern Nuclear, which manages the company's nuclear generation interests, including the Vogtle nuclear expansion in Georgia.

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