Edmond DE Rothschild Holding S.A. Takes $7.64 Million Position in Southern Company (The) $SO

Key Points

• Edmond DE Rothschild Holding S.A. acquired 79,866 shares of Southern Company during the second quarter, worth approximately $7.64 million. Institutional investors and hedge funds collectively own 64.10% of the utility’s stock.
• Analysts maintain a mixed outlook, with a consensus “Hold” rating and an average price target of $100.09, compared with the stock’s opening price of $92.22.
• Southern reported quarterly EPS of $1.13, beating estimates by $0.12, and announced a quarterly dividend of $0.76 per share—an annualized $3.04 payout and a 3.3% yield.

Edmond DE Rothschild Holding S.A. acquired a new position in shares of Southern Company (The) (NYSE:SO - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 79,866 shares of the utilities provider's stock, valued at approximately $7,644,000.

Several other hedge funds have also modified their holdings of the stock. Evergreen Advisors LLC acquired a new position in Southern during the first quarter worth approximately $25,000. Scarborough Advisors LLC purchased a new position in Southern during the first quarter worth approximately $25,000. Ankerstar Wealth LLC purchased a new position in Southern during the fourth quarter worth approximately $25,000. Cornerstone Financial Management LLC acquired a new position in shares of Southern in the 4th quarter valued at $27,000. Finally, J.Safra Asset Management Corp acquired a new position in shares of Southern in the 4th quarter valued at $27,000. 64.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SO has been the subject of a number of research analyst reports. Jefferies Financial Group set a $99.00 price objective on Southern in a report on Monday, June 22nd. Barclays reduced their target price on Southern from $99.00 to $98.00 and set an "equal weight" rating on the stock in a report on Thursday, June 18th. Wall Street Zen downgraded Southern from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Weiss Ratings restated a "buy (b)" rating on shares of Southern in a research note on Wednesday, July 29th. Finally, Morgan Stanley restated an "underweight" rating on shares of Southern in a report on Wednesday, July 22nd. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $100.09.

Southern Price Performance

Shares of NYSE SO opened at $92.22 on Thursday. 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 Company has a 1-year low of $83.80 and a 1-year high of $100.83. The company has a market capitalization of $106.09 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.77 and a beta of 0.34. The business has a 50-day moving average of $94.66 and a 200-day moving average of $94.42.

Southern (NYSE:SO - Get Free Report) last announced its earnings results on Wednesday, July 29th. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.01 by $0.12. The business had revenue of $6.98 billion for 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 company's revenue was up .1% on a year-over-year basis. During the same period last year, the business posted $0.79 EPS. On average, equities analysts anticipate that Southern Company will post 4.58 EPS for the current fiscal year.

Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 17th will be paid a dividend of $0.76 per share. The ex-dividend date is Monday, August 17th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.3%. Southern's dividend payout ratio (DPR) is currently 72.90%.

Southern 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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