Empower Advisory Group LLC Increases Stake in Southern Company (The) (NYSE:SO)

Key Points

• Empower Advisory Group LLC increased its stake in Southern Company (NYSE:SO) by 2.7%, acquiring an additional 37,408 shares and bringing its total ownership to approximately 1.4 million shares, valued at $132.3 million.
• Southern Company reported a quarterly EPS of $0.91, which fell short of analysts' expectations of $0.99, while the company's revenue reached $6.97 billion, exceeding the forecast of $6.70 billion.
• The company declared a quarterly dividend of $0.74 per share, with an annualized dividend yield of 3.1%, and a payout ratio of 76.09% as of the last quarter.

Empower Advisory Group LLC raised its stake in Southern Company (The) (NYSE:SO - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,439,072 shares of the utilities provider's stock after purchasing an additional 37,408 shares during the period. Empower Advisory Group LLC owned 0.13% of Southern worth $132,323,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SO. Marshall Wace LLP lifted its position in shares of Southern by 325.7% in the 4th quarter. Marshall Wace LLP now owns 4,322,931 shares of the utilities provider's stock worth $355,864,000 after purchasing an additional 3,307,527 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Southern by 11,230.1% in the 1st quarter. GAMMA Investing LLC now owns 1,954,213 shares of the utilities provider's stock worth $179,690,000 after purchasing an additional 1,936,965 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Southern by 562.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,368,788 shares of the utilities provider's stock valued at $112,679,000 after buying an additional 1,162,288 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Southern by 23.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,208,872 shares of the utilities provider's stock worth $428,794,000 after purchasing an additional 979,756 shares in the last quarter. Finally, Westwood Holdings Group Inc. raised its position in Southern by 1,747.3% in the 4th quarter. Westwood Holdings Group Inc. now owns 896,323 shares of the utilities provider's stock valued at $73,785,000 after buying an additional 847,803 shares during the last quarter. Institutional investors and hedge funds own 64.10% of the company's stock.

Southern Stock Up 0.6%

Shares of NYSE SO traded up $0.56 during mid-day trading on Thursday, reaching $95.24. 4,162,040 shares of the company were exchanged, compared to its average volume of 5,522,047. Southern Company has a 1 year low of $80.46 and a 1 year high of $96.44. The stock has a market cap of $104.77 billion, a price-to-earnings ratio of 24.48, a P/E/G ratio of 3.27 and a beta of 0.38. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.69. The firm has a 50-day moving average of $91.73 and a 200 day moving average of $89.65.

Southern (NYSE:SO - Get Free Report) last issued its earnings results on Thursday, July 31st. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.99 by ($0.08). The firm had revenue of $6.97 billion during the quarter, compared to analysts' expectations of $6.70 billion. Southern had a return on equity of 12.09% and a net margin of 15.10%. The business's revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the business earned $1.10 EPS. On average, research analysts expect that Southern Company will post 4.29 earnings per share for the current year.

Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 18th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Monday, August 18th. Southern's dividend payout ratio is currently 76.09%.

Analyst Ratings Changes

SO has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Southern from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Scotiabank upped their price target on Southern from $98.00 to $99.00 and gave the company a "sector outperform" rating in a research report on Friday, August 1st. Guggenheim restated a "neutral" rating and set a $93.00 target price on shares of Southern in a research report on Friday, May 2nd. Mizuho increased their price target on shares of Southern from $93.00 to $95.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Finally, BMO Capital Markets boosted their target price on Southern from $98.00 to $102.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Southern has a consensus rating of "Hold" and an average target price of $94.29.

Insiders Place Their Bets

In other Southern news, CEO Kimberly S. Greene sold 13,158 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $95.00, for a total value of $1,250,010.00. Following the transaction, the chief executive officer directly owned 93,661 shares of the company's stock, valued at $8,897,795. This trade represents a 12.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.16% of the company's stock.

Southern Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.