Cambridge Investment Research Advisors Inc. Has $40.13 Million Stake in Southern Company (The) $SO

Key Points

• Cambridge Investment Research Advisors increased its stake in Southern Company by 6.3% in the fourth quarter, bringing its holdings to 460,252 shares valued at about $40.1 million.
• Southern reported better-than-expected quarterly results, posting EPS of $1.32 versus the $1.21 estimate and revenue of $8.40 billion versus expectations of $8.07 billion, while revenue rose 8% year over year.
• The company raised its quarterly dividend to $0.76 per share from $0.74, implying an annualized dividend of $3.04 and a yield of about 3.3%.

Cambridge Investment Research Advisors Inc. boosted its stake in Southern Company (The) (NYSE:SO - Free Report) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 460,252 shares of the utilities provider's stock after purchasing an additional 27,341 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Southern were worth $40,134,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cloud Capital Management LLC acquired a new stake in Southern in the third quarter valued at $25,000. Grey Fox Wealth Advisors LLC acquired a new stake in Southern in the third quarter valued at $29,000. Triumph Capital Management acquired a new stake in Southern in the third quarter valued at $29,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Southern during the fourth quarter valued at $31,000. Finally, Legacy Wealth Managment LLC ID acquired a new stake in Southern during the 4th quarter worth about $33,000. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SO. Wells Fargo & Company set a $96.00 price target on Southern and gave the stock an "equal weight" rating in a report on Friday, February 20th. BMO Capital Markets reiterated an "outperform" rating on shares of Southern in a report on Friday, February 20th. Barclays increased their price target on Southern from $88.00 to $99.00 and gave the stock an "equal weight" rating in a report on Friday, April 10th. TD Cowen increased their price target on Southern from $108.00 to $112.00 and gave the stock a "buy" rating in a report on Friday, March 6th. Finally, Morgan Stanley decreased their price target on Southern from $94.00 to $92.00 and set an "underweight" rating for the company in a report on Tuesday, April 21st. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $99.85.

Southern Stock Performance

Shares of Southern stock opened at $92.56 on Monday. The company has a market cap of $104.35 billion, a P/E ratio of 23.55, a PEG ratio of 2.80 and a beta of 0.36. The business has a 50-day moving average price of $95.34 and a two-hundred day moving average price of $91.77. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 1.68. 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 released its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.11. The company had revenue of $8.40 billion for 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 business's revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.23 EPS. As a group, analysts anticipate that Southern Company will post 4.57 EPS for the current year.

Southern Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 8th. Stockholders of record on Monday, May 18th will be given a dividend of $0.76 per share. This is a boost from Southern's previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Monday, May 18th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.3%. Southern's payout ratio is currently 75.32%.

Insider Transactions at Southern

In other news, EVP Christopher Cummiskey sold 6,669 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $96.55, for a total transaction of $643,891.95. Following the transaction, the executive vice president owned 30,800 shares of the company's stock, valued at $2,973,740. This represents a 17.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kimberly S. Greene sold 25,000 shares of the stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $96.67, for a total transaction of $2,416,750.00. Following the transaction, the chief executive officer directly owned 103,602 shares in the company, valued at $10,015,205.34. This trade represents a 19.44% decrease in their position. The SEC filing for this sale provides additional information. 0.16% of the stock is owned by corporate insiders.

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.

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