Cetera Investment Advisers Has $77.07 Million Stock Holdings in Southern Company (The) $SO

Key Points

• Cetera Investment Advisers increased its stake in Southern Company by 4.4% in the first quarter, ending with 798,489 shares valued at about $77.1 million.
• Southern reported better-than-expected quarterly results, with earnings of $1.32 per share versus estimates of $1.21 and revenue of $8.40 billion, up 8% year over year.
• The company announced a quarterly dividend of $0.76 per share, payable September 8, implying an annualized yield of about 3.1%.

Cetera Investment Advisers grew its stake in Southern Company (The) (NYSE:SO - Free Report) by 4.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 798,489 shares of the utilities provider's stock after acquiring an additional 33,363 shares during the period. Cetera Investment Advisers owned 0.07% of Southern worth $77,070,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Envision Financial Transparency LLC acquired a new position in shares of Southern during the 1st quarter worth approximately $386,000. Aureus Asset Management LLC acquired a new stake in shares of Southern in the 1st quarter valued at approximately $431,000. Signature Equity Partners LLC boosted its holdings in shares of Southern by 14.2% in the 1st quarter. Signature Equity Partners LLC now owns 3,297 shares of the utilities provider's stock valued at $318,000 after buying an additional 409 shares during the last quarter. Wiregrass Investment Management LLC grew its stake in shares of Southern by 4.0% in the first quarter. Wiregrass Investment Management LLC now owns 10,977 shares of the utilities provider's stock valued at $1,060,000 after buying an additional 423 shares in the last quarter. Finally, First Citizens Bank & Trust Co. grew its stake in shares of Southern by 5.3% in the first quarter. First Citizens Bank & Trust Co. now owns 44,711 shares of the utilities provider's stock valued at $4,316,000 after buying an additional 2,239 shares in the last quarter. Institutional investors and hedge funds own 64.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Citigroup reaffirmed a "buy" rating on shares of Southern in a research report on Friday, April 10th. Seaport Research Partners downgraded shares of Southern from a "buy" rating to a "neutral" rating in a research report on Monday, April 20th. Morgan Stanley restated an "underweight" rating on shares of Southern in a research note on Wednesday. Mizuho set a $105.00 target price on shares of Southern in a report on Friday, May 1st. 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 given a Sell rating to the company. According to MarketBeat, Southern currently has an average rating of "Hold" and an average target price of $100.09.

Southern Stock Up 0.8%

SO opened at $96.53 on Friday. The stock's fifty day simple moving average is $94.34 and its 200 day simple moving average is $93.67. Southern Company has a 1-year low of $83.80 and a 1-year high of $100.83. The stock has a market cap of $108.81 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 1.88 and a beta of 0.34. 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 (NYSE:SO - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $1.32 EPS for the quarter, topping analysts' consensus estimates of $1.21 by $0.11. Southern had a net margin of 14.46% and a return on equity of 12.64%. The firm had revenue of $8.40 billion during the quarter, compared to analysts' expectations of $8.07 billion. During the same period in the previous year, the business posted $1.23 earnings per share. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, research analysts expect that Southern Company will post 4.58 earnings per share for the current year.

Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors 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 annualized dividend and a dividend yield of 3.1%. Southern's 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.

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