Arkadios Wealth Advisors Boosts Holdings in Southern Company (The) $SO

Key Points

• Arkadios Wealth Advisors increased its Southern Company holdings by 31.3% in the first quarter, adding 48,273 shares for a total position of 202,443 shares valued at approximately $19.54 million. Institutional investors collectively own 64.1% of the company.
• Analyst sentiment remains mixed, with seven Buy, eleven Hold, and two Sell ratings. Southern has a consensus rating of Hold and an average price target of $100.21.
• Southern exceeded quarterly expectations with earnings of $1.32 per share and revenue of $8.40 billion, while announcing a quarterly dividend of $0.76 per share, equivalent to a 3.2% annualized yield.

Arkadios Wealth Advisors increased its holdings in shares of Southern Company (The) (NYSE:SO - Free Report) by 31.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202,443 shares of the utilities provider's stock after buying an additional 48,273 shares during the quarter. Arkadios Wealth Advisors' holdings in Southern were worth $19,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of SO. Evergreen Advisors LLC purchased a new stake in shares of Southern during the first quarter valued at $25,000. Scarborough Advisors LLC acquired a new position in shares of Southern in the first quarter valued at about $25,000. Ankerstar Wealth LLC acquired a new position in shares of Southern in the fourth quarter valued at about $25,000. Triumph Capital Management purchased a new position in shares of Southern in the third quarter worth about $29,000. Finally, Cornerstone Financial Management LLC acquired a new stake in Southern during the 4th quarter valued at approximately $27,000. Institutional investors and hedge funds own 64.10% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Morgan Stanley restated an "underweight" rating on shares of Southern in a research report on Wednesday, July 22nd. Barclays cut their price target on Southern from $99.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Thursday, June 18th. KeyCorp lowered Southern from a "sector weight" rating to an "underweight" rating and set a $79.00 price objective on the stock. in a research report on Thursday, July 23rd. BMO Capital Markets lifted their target price on shares of Southern from $102.00 to $104.00 and gave the company an "outperform" rating in a report on Monday. Finally, Jefferies Financial Group set a $99.00 target price on shares of Southern in a research note on Monday, June 22nd. Seven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Southern has an average rating of "Hold" and a consensus target price of $100.21.

Southern Price Performance

Southern stock opened at $96.24 on Thursday. The stock has a market capitalization of $108.49 billion, a P/E ratio of 24.49, a P/E/G ratio of 1.86 and a beta of 0.34. The company's fifty day moving average price is $94.59 and its 200 day moving average price is $93.94. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.65. Southern Company has a 1 year low of $83.80 and a 1 year high of $100.83.

Southern (NYSE:SO - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.21 by $0.11. The company had revenue of $8.40 billion during the quarter, compared to analysts' expectations of $8.07 billion. Southern had a net margin of 14.46% and a return on equity of 12.64%. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 earnings per share. As a group, equities research analysts anticipate that Southern Company will post 4.58 earnings per share for the current fiscal year.

Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 17th will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.2%. Southern's dividend payout ratio is presently 77.35%.

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.

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.