Callan Family Office LLC Takes Position in Southern Company (The) $SO

Key Points

• Callan Family Office LLC acquired 44,553 shares of Southern Company worth approximately $4.26 million in the second quarter. Institutional investors collectively own 64.1% of the utility’s stock.
• 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 $100.09.
• Southern reported quarterly EPS of $1.13, beating estimates of $1.01, while revenue reached $6.98 billion. The company declared a quarterly dividend of $0.76, equivalent to a 3.4% annualized yield.

Callan Family Office LLC acquired a new position in shares of Southern Company (The) (NYSE:SO - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 44,553 shares of the utilities provider's stock, valued at approximately $4,264,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SO. Evergreen Advisors LLC bought a new stake in shares of Southern during the first quarter valued at about $25,000. Scarborough Advisors LLC bought a new position in Southern in the 1st quarter valued at about $25,000. Ankerstar Wealth LLC acquired a new position in Southern during the 4th quarter valued at about $25,000. Triumph Capital Management acquired a new position in Southern during the 3rd quarter valued at about $29,000. Finally, Cornerstone Financial Management LLC bought a new stake in shares of Southern during the 4th quarter worth about $27,000. 64.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SO has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Southern in a research note on Wednesday, July 29th. JPMorgan Chase & Co. raised 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. Raymond James Financial reissued an "outperform" rating and set a $104.00 target price on shares of Southern in a report on Friday, May 1st. Truist Financial cut 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. Finally, Wall Street Zen lowered Southern from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Seven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $100.09.

Southern Price Performance

Shares of NYSE SO opened at $89.09 on Friday. Southern Company has a twelve month low of $83.80 and a twelve month 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 firm has a 50-day moving average of $94.52 and a two-hundred day moving average of $94.40. The company has a market capitalization of $102.49 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 1.76 and a beta of 0.34.

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

Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 17th will be given a $0.76 dividend. The ex-dividend date is Monday, August 17th. This represents a $3.04 annualized dividend and a yield of 3.4%. Southern's payout ratio is 72.90%.

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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