FSA Advisors Inc. Takes Position in Southern Company (The) (NYSE:SO)

Key Points

• FSA Advisors Inc. has acquired a new stake in Southern Company, purchasing 3,246 shares valued at approximately $298,000.
• Southern Company reported a quarterly earnings per share of $1.23, surpassing analyst estimates, with revenues reaching $7.78 billion.
• The company recently declared a quarterly dividend of $0.74 per share, which translates to an annualized yield of 3.14%.

FSA Advisors Inc. acquired a new stake in Southern Company (The) (NYSE:SO - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,246 shares of the utilities provider's stock, valued at approximately $298,000.

Other hedge funds also recently made changes to their positions in the company. Investors Research Corp lifted its holdings in Southern by 400.0% during the 1st quarter. Investors Research Corp now owns 270 shares of the utilities provider's stock worth $25,000 after purchasing an additional 216 shares during the last quarter. Rossby Financial LCC acquired a new stake in Southern during the 1st quarter worth approximately $39,000. Elequin Capital LP lifted its holdings in Southern by 60.6% during the 4th quarter. Elequin Capital LP now owns 498 shares of the utilities provider's stock worth $41,000 after purchasing an additional 188 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Southern during the 4th quarter worth approximately $44,000. Finally, Copia Wealth Management acquired a new stake in Southern during the 4th quarter worth approximately $45,000. 64.10% of the stock is owned by institutional investors and hedge funds.

Southern Stock Down 1.1%

Shares of NYSE:SO opened at $94.30 on Tuesday. The company has a market capitalization of $103.64 billion, a price-to-earnings ratio of 22.51, a P/E/G ratio of 3.30 and a beta of 0.38. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.86 and a quick ratio of 0.65. The business's 50-day moving average is $90.97 and its 200-day moving average is $89.15. Southern Company has a 1 year low of $80.46 and a 1 year high of $96.44.

Southern (NYSE:SO - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.03. The company had revenue of $7.78 billion for the quarter, compared to the consensus estimate of $7.17 billion. Southern had a return on equity of 12.70% and a net margin of 16.54%. The firm's revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 EPS. Equities research analysts predict that Southern Company will post 4.29 earnings per share for the current year.

Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 18th will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Monday, August 18th. Southern's dividend payout ratio (DPR) is currently 70.64%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SO. JPMorgan Chase & Co. lifted their price target on Southern from $94.00 to $97.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Guggenheim reiterated a "neutral" rating and issued a $93.00 price target on shares of Southern in a research note on Friday, May 2nd. Evercore ISI lifted their price target on Southern from $90.00 to $94.00 and gave the company an "in-line" rating in a research note on Friday, May 2nd. Barclays boosted their price objective on Southern from $90.00 to $91.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Raymond James Financial initiated coverage on Southern in a research report on Friday, June 13th. They set an "outperform" rating and a $98.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $93.53.

Insiders Place Their Bets

In related news, CEO Kimberly S. Greene sold 13,158 shares of the company's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $95.00, for a total transaction of $1,250,010.00. Following the transaction, the chief executive officer directly owned 93,661 shares of the company's stock, valued at approximately $8,897,795. This represents a 12.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.16% of the company's stock.

About Southern

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.

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