Commerce Bank purchased a new stake in shares of Southern Company (The) (NYSE:SO - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 154,685 shares of the utilities provider's stock, valued at approximately $14,805,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. GQG Partners LLC purchased a new position in Southern during the second quarter valued at approximately $5,147,000. Evolve Private Wealth LLC bought a new stake in Southern during the 2nd quarter worth approximately $906,000. Madison Wealth Partners Inc purchased a new stake in Southern in the 2nd quarter worth approximately $206,000. Westpac Banking Corp bought a new position in Southern in the 2nd quarter valued at $141,000. Finally, TRB Wealth Management LLC bought a new position in Southern in the 2nd quarter valued at $406,000. 64.10% of the stock is owned by hedge funds and other institutional investors.
Southern Price Performance
Shares of NYSE:SO opened at $89.09 on Friday. The company's fifty day moving average price is $94.52 and its 200-day moving average price is $94.40. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.79 and a quick ratio of 0.59. The firm has a market capitalization of $102.49 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 1.71 and a beta of 0.34. Southern Company has a one year low of $83.80 and a one year high of $100.83.
Southern (NYSE:SO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $7.23 billion. During the same period in the previous year, the firm posted $0.79 EPS. The firm's revenue was up .1% compared to the same quarter last year. On average, equities research analysts anticipate that Southern Company will post 4.58 earnings per share for the current fiscal year.
Southern Announces Dividend
The company also recently declared 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. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.04 annualized dividend and a yield of 3.4%. Southern's payout ratio is 72.90%.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on SO. BMO Capital Markets upped their price target on shares of Southern from $102.00 to $104.00 and gave the stock an "outperform" rating in a report on Monday, July 27th. JPMorgan Chase & Co. lifted their price objective on Southern from $101.00 to $104.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. Morgan Stanley reduced their target price on Southern from $92.00 to $89.00 and set an "underweight" rating for the company in a research report on Friday. Wall Street Zen lowered Southern from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Finally, Jefferies Financial Group set a $99.00 price target on Southern in a report on Monday, June 22nd. Seven 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 MarketBeat.com, Southern currently has a consensus rating of "Hold" and a consensus target price of $100.09.
Check Out Our Latest Stock Report on SO
About Southern
(
Free Report)
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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