Ausdal Financial Partners Inc. Invests $2.40 Million in Southern Company (The) $SO

Key Points

• Ausdal Financial Partners initiated a $2.40 million position in Southern Company during the second quarter by purchasing 25,081 shares. Institutional investors and hedge funds collectively own 64.1% of the stock.
• Southern beat quarterly earnings expectations, reporting $1.13 in EPS versus the $1.01 consensus, although revenue of $6.98 billion came in below estimates.
• The company declared a quarterly dividend of $0.76 per share, equivalent to a 3.4% annualized yield. Analysts maintain a consensus “Hold” rating with a $100.09 price target.

Ausdal Financial Partners Inc. bought a new position in shares of Southern Company (The) (NYSE:SO - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 25,081 shares of the utilities provider's stock, valued at approximately $2,401,000.

Other hedge funds also recently added to or reduced their stakes in the company. Evergreen Advisors LLC purchased a new position in shares of Southern in the 1st quarter valued at approximately $25,000. Scarborough Advisors LLC acquired a new stake in Southern during the 1st quarter worth about $25,000. Ankerstar Wealth LLC acquired a new stake in Southern during the 4th quarter worth about $25,000. Cornerstone Financial Management LLC purchased a new stake in Southern during the 4th quarter valued at about $27,000. Finally, J.Safra Asset Management Corp purchased a new stake in Southern during the 4th quarter valued at about $27,000. 64.10% of the stock is owned by institutional investors and hedge funds.

Southern Stock Performance

NYSE SO opened at $89.88 on Thursday. The company has a current ratio of 0.79, a quick ratio of 0.59 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 50-day moving average of $94.31 and a 200 day moving average of $94.43. The stock has a market capitalization of $103.39 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 1.73 and a beta of 0.34.

Southern (NYSE:SO - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $6.98 billion during the quarter, compared to analysts' expectations of $7.23 billion. During the same period in the previous year, the business earned $0.79 earnings per share. The business's revenue was up .1% compared to the same quarter last year. Sell-side analysts anticipate that Southern Company will post 4.59 EPS for the current fiscal year.

Southern Dividend Announcement

The company 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 dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, August 17th. Southern's payout ratio is 72.90%.

Wall Street Analysts Forecast Growth

SO has been the subject of a number of research reports. Jefferies Financial Group set a $99.00 target price on Southern in a report on Monday, June 22nd. KeyCorp downgraded shares of Southern from a "sector weight" rating to an "underweight" rating and set a $79.00 price target on the stock. in a report on Thursday, July 23rd. Raymond James Financial reissued an "outperform" rating and set a $104.00 price target on shares of Southern in a research report on Friday, May 1st. JPMorgan Chase & Co. lifted their price objective on shares of Southern from $101.00 to $104.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. Finally, Truist Financial cut their price objective on shares of Southern from $100.00 to $97.00 and set a "hold" rating on the stock in a research note on Thursday, August 13th. Seven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Southern has a consensus rating of "Hold" and a consensus 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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