Allworth Financial LP acquired a new stake in Southern Company (The) (NYSE:SO - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 171,520 shares of the utilities provider's stock, valued at approximately $16,416,000.
Other institutional investors have also recently made changes to their positions in the company. B. Metzler seel. Sohn & Co. AG purchased a new position in Southern in the 2nd quarter worth approximately $2,456,000. Silvant Capital Management LLC purchased a new position in shares of Southern in the second quarter worth $165,000. LaSalle St. Investment Advisors LLC bought a new position in shares of Southern during the second quarter worth $391,000. Mystic Asset Management Inc. bought a new position in shares of Southern during the second quarter worth $1,908,000. Finally, Kilter Group LLC purchased a new position in Southern during the second quarter valued at $47,000. Hedge funds and other institutional investors own 64.10% of the company's stock.
Analyst Ratings Changes
SO has been the topic of several research reports. Jefferies Financial Group set a $99.00 target price on Southern in a report on Monday, June 22nd. Truist Financial lowered their target price on Southern from $100.00 to $97.00 and set a "hold" rating for the company in a research report on Thursday, August 13th. KeyCorp lowered shares of Southern from a "sector weight" rating to an "underweight" rating and set a $79.00 target price for the company. in a report on Thursday, July 23rd. Barclays decreased their price target on shares of Southern from $99.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Thursday, June 18th. Finally, Morgan Stanley reiterated an "underweight" rating on shares of Southern in a research report on Wednesday, July 22nd. Seven investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $100.09.
Get Our Latest Stock Analysis on Southern
Southern Trading Down 0.8%
SO stock opened at $91.47 on Friday. 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 Company has a twelve month low of $83.80 and a twelve month high of $100.83. The stock has a market capitalization of $105.22 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 1.77 and a beta of 0.34. The firm's fifty day simple moving average is $94.62 and its two-hundred day simple moving average is $94.44.
Southern (NYSE:SO - Get Free Report) last announced its earnings results 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. Southern had a net margin of 15.43% and a return on equity of 12.93%. The business had revenue of $6.98 billion for the quarter, compared to the consensus estimate of $7.23 billion. During the same quarter in the prior year, the firm posted $0.79 earnings per share. The business's revenue for the quarter was up .1% on a year-over-year basis. As a group, analysts anticipate that Southern Company will post 4.58 earnings per share for the current year.
Southern Dividend Announcement
The company also recently disclosed 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 yield of 3.3%. The ex-dividend date of this dividend is Monday, August 17th. Southern's dividend payout ratio is 72.90%.
About Southern
(
Free Report)
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.
Recommended Stories
Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Company (The) (NYSE:SO - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Southern, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Southern wasn't on the list.
While Southern currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The space race is growing fast, and you don’t have to have gotten in early on SpaceX to profit. This report shows seven space stocks you can buy today that may grow as rockets, satellites, defense, space internet, and new space technology become more important.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
