Corient Private Wealth LP Makes New $25.96 Million Investment in Southern Company (The) $SO

Key Points

• Corient Private Wealth initiated a roughly $25.96 million position in Southern Company during the second quarter by purchasing 271,260 shares. Institutional investors and hedge funds collectively own 64.1% of the utility’s stock.
• Southern reported quarterly EPS of $1.13, beating the $1.01 consensus estimate, while revenue reached $6.98 billion. Shares recently traded at $88.18, near the lower end of their 12-month range.
• The company declared a quarterly dividend of $0.76 per share, equivalent to an annualized $3.04 payout and a 3.4% yield. Analysts’ consensus rating is “Hold,” with an average price target of $100.09.

Corient Private Wealth LP purchased a new position in shares of Southern Company (The) (NYSE:SO - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 271,260 shares of the utilities provider's stock, valued at approximately $25,963,000.

Other hedge funds have also recently modified their holdings of the company. Uptick Partners LLC grew its position in Southern by 1.5% during the 1st quarter. Uptick Partners LLC now owns 7,601 shares of the utilities provider's stock worth $734,000 after purchasing an additional 110 shares during the last quarter. Seelaus Asset Management LLC raised its holdings in shares of Southern by 2.4% in the first quarter. Seelaus Asset Management LLC now owns 4,923 shares of the utilities provider's stock worth $475,000 after buying an additional 115 shares during the last quarter. KCM Investment Advisors LLC lifted its stake in shares of Southern by 0.3% during the first quarter. KCM Investment Advisors LLC now owns 34,328 shares of the utilities provider's stock worth $3,313,000 after buying an additional 115 shares during the period. Stokes Family Office LLC lifted its stake in shares of Southern by 0.7% during the fourth quarter. Stokes Family Office LLC now owns 15,994 shares of the utilities provider's stock worth $1,395,000 after buying an additional 115 shares during the period. Finally, Leonteq Securities AG grew its holdings in shares of Southern by 4.7% during the first quarter. Leonteq Securities AG now owns 2,657 shares of the utilities provider's stock valued at $256,000 after buying an additional 119 shares during the last quarter. Institutional investors and hedge funds own 64.10% of the company's stock.

Southern Trading Down 1.0%

Shares of NYSE:SO opened at $88.18 on Friday. Southern Company has a 12-month low of $83.80 and a 12-month high of $100.83. The company has a market capitalization of $101.44 billion, a PE ratio of 21.15, a PEG ratio of 1.71 and a beta of 0.34. The business has a 50 day moving average of $94.12 and a two-hundred day moving average of $94.38. The company has a current ratio of 0.79, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62.

Southern (NYSE:SO - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.01 by $0.12. The business had revenue of $6.98 billion for the quarter, compared to analyst estimates of $7.23 billion. Southern had a return on equity of 12.93% and a net margin of 15.43%.The business's quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.79 EPS. As a group, analysts forecast that Southern Company will post 4.59 EPS for the current year.

Southern Dividend Announcement

The company 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 dividend of $0.76 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.04 dividend on an annualized basis and a yield of 3.4%. Southern's dividend payout ratio is 72.90%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SO. KeyCorp downgraded Southern from a "sector weight" rating to an "underweight" rating and set a $79.00 target price on the stock. in a research report on Thursday, July 23rd. Mizuho set a $106.00 price target on Southern in a research note on Friday, July 31st. BMO Capital Markets increased 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. Jefferies Financial Group set a $99.00 price objective on Southern in a research note on Monday, June 22nd. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Southern in a report on Wednesday, July 29th. Seven equities 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. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $100.09.

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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