AssuredPartners Investment Advisors LLC Makes New Investment in Southern Company (The) $SO

Key Points

• AssuredPartners Investment Advisors initiated a position in Southern Company, buying 13,670 shares valued at approximately $1.31 million. Institutional investors collectively own 64.1% of the utility’s stock.
• Southern reported quarterly EPS of $1.13, exceeding the $1.01 analyst consensus, while revenue reached $6.98 billion. Analysts project full-year EPS of $4.58.
• The company declared a quarterly dividend of $0.76 per share, or $3.04 annually, representing a 3.3% yield; analysts maintain a consensus “Hold” rating with an average price target of $100.09.

AssuredPartners Investment Advisors LLC purchased a new position in shares of Southern Company (The) (NYSE:SO - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 13,670 shares of the utilities provider's stock, valued at approximately $1,308,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Evergreen Advisors LLC acquired a new stake in shares of Southern in the first quarter worth about $25,000. Scarborough Advisors LLC acquired a new stake in Southern in the 1st quarter worth approximately $25,000. Ankerstar Wealth LLC acquired a new stake in Southern in the 4th quarter worth approximately $25,000. Triumph Capital Management bought a new stake in Southern during the third quarter worth approximately $29,000. Finally, Cornerstone Financial Management LLC bought a new stake in Southern during the fourth quarter worth approximately $27,000. Institutional investors own 64.10% of the company's stock.

Southern Stock Up 0.2%

SO opened at $92.22 on Thursday. Southern Company has a 1-year low of $83.80 and a 1-year high of $100.83. The company has a current ratio of 0.79, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62. The stock has a market capitalization of $106.09 billion, a price-to-earnings ratio of 22.12, a P/E/G ratio of 1.77 and a beta of 0.34. The business has a 50 day moving average of $94.66 and a 200-day moving average of $94.42.

Southern (NYSE:SO - Get Free Report) last announced its earnings results on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping 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 business had revenue of $6.98 billion for the quarter, compared to analyst estimates of $7.23 billion. During the same quarter in the previous year, the firm posted $0.79 earnings per share. Southern's revenue was up .1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Southern Company will post 4.58 earnings per share for the current year.

Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 17th will be given 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 3.3%. Southern's dividend payout ratio is currently 72.90%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. BMO Capital Markets lifted their price target on shares of Southern from $102.00 to $104.00 and gave the company an "outperform" rating in a research report on Monday, July 27th. Wall Street Zen downgraded shares of Southern from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. Mizuho set a $106.00 target price on shares of Southern in a research note on Friday, July 31st. Barclays dropped their target price on shares of Southern from $99.00 to $98.00 and set an "equal weight" rating on the stock in a report on Thursday, June 18th. Finally, Morgan Stanley reissued 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 assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average 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.

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.

Add As Preferred Source