Citizens Financial Group Inc. RI Makes New Investment in Southern Company (The) $SO

Key Points

• Citizens Financial Group acquired 29,533 shares of Southern Company valued at approximately $2.83 million during the second quarter. Institutional investors collectively own 64.1% of Southern’s stock.
• Southern reported quarterly EPS of $1.13, beating estimates of $1.01, while revenue reached $6.98 billion, below the $7.23 billion consensus forecast.
• The company declared a quarterly dividend of $0.76 per share, equivalent to a $3.04 annualized payout and a 3.3% yield. Analysts maintain a consensus “Hold” rating with an average price target of $100.09.

Citizens Financial Group Inc. RI acquired a new stake in shares of Southern Company (The) (NYSE:SO - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 29,533 shares of the utilities provider's stock, valued at approximately $2,827,000.

Other large investors also recently modified their holdings of the company. Evergreen Advisors LLC acquired a new position in shares of Southern in the 1st quarter worth approximately $25,000. Scarborough Advisors LLC acquired a new stake in Southern in the 1st quarter valued at $25,000. Ankerstar Wealth LLC acquired a new stake in Southern in the 4th quarter valued at $25,000. Triumph Capital Management bought a new stake in Southern in the third quarter valued at $29,000. Finally, Cornerstone Financial Management LLC bought a new stake in Southern in the fourth quarter valued at $27,000. 64.10% of the stock is currently owned by institutional investors.

Southern Stock Down 0.4%

NYSE SO opened at $92.42 on Tuesday. The stock's 50 day simple moving average is $94.71 and its 200 day simple moving average is $94.37. Southern Company has a one year low of $83.80 and a one year high of $100.83. The firm has a market cap of $106.32 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 1.78 and a beta of 0.34. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.79 and a quick ratio of 0.59.

Southern (NYSE:SO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.12. The firm had revenue of $6.98 billion during the quarter, compared to the consensus estimate of $7.23 billion. Southern had a return on equity of 12.93% and a net margin of 15.43%.The business's revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS. As a group, sell-side analysts forecast that Southern Company will post 4.58 earnings per share for the current fiscal year.

Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, August 17th. Southern's payout ratio is currently 72.90%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. BMO Capital Markets lifted their price objective on Southern from $102.00 to $104.00 and gave the company an "outperform" rating in a report on Monday, July 27th. Seaport Research Partners lowered shares of Southern from a "buy" rating to a "neutral" rating in a report on Monday, April 20th. KeyCorp cut shares of Southern from a "sector weight" rating to an "underweight" rating and set a $79.00 target price for the company. in a research report on Thursday, July 23rd. JPMorgan Chase & Co. lifted their price target on shares of Southern from $101.00 to $104.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Southern in a report on Wednesday, July 29th. Seven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Southern presently has an average rating of "Hold" and a consensus price target of $100.09.

Southern Company 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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