GQG Partners LLC Purchases Shares of 53,777 Southern Company (The) $SO

Key Points

• GQG Partners initiated a position in Southern Company by purchasing 53,777 shares valued at approximately $5.15 million. Institutional investors and hedge funds collectively own 64.1% of the utility’s stock.
• Southern shares recently traded down 2.6% to $89.09. The company exceeded quarterly EPS expectations, reporting $1.13 versus the $1.01 consensus estimate, while revenue reached $6.98 billion.
• Southern declared a quarterly dividend of $0.76 per share, equivalent to $3.04 annually and a 3.4% yield. Analysts maintain a consensus “Hold” rating with an average price target of $100.09.

GQG Partners LLC purchased a new position in shares of Southern Company (The) (NYSE:SO - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 53,777 shares of the utilities provider's stock, valued at approximately $5,147,000.

Several other large investors also recently modified their holdings of the stock. Evergreen Advisors LLC acquired a new stake in Southern in the first quarter worth $25,000. Scarborough Advisors LLC acquired a new position in shares of Southern during the first quarter valued at about $25,000. Ankerstar Wealth LLC acquired a new position in shares of Southern during the fourth quarter valued at about $25,000. Cornerstone Financial Management LLC bought a new position in shares of Southern during the 4th quarter worth about $27,000. Finally, J.Safra Asset Management Corp acquired a new stake in shares of Southern in the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 64.10% of the company's stock.

Southern Trading Down 2.6%

Shares of SO stock opened at $89.09 on Friday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.59 and a current ratio of 0.79. The company 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 52-week low of $83.80 and a 52-week high of $100.83. The company has a 50-day simple moving average of $94.52 and a two-hundred day simple moving average of $94.40.

Southern (NYSE:SO - Get Free Report) last announced its earnings results on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.12. The firm had revenue of $6.98 billion during 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 revenue was up .1% compared to the same quarter last year. During the same period last year, the firm posted $0.79 EPS. Research analysts anticipate that Southern Company will post 4.58 EPS for the current fiscal year.

Southern Dividend Announcement

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

Analyst Upgrades and Downgrades

SO has been the topic of a number of research reports. Mizuho set a $106.00 target price on Southern in a research report on Friday, July 31st. BMO Capital Markets boosted their target price on shares of Southern from $102.00 to $104.00 and gave the stock an "outperform" rating in a research report on Monday, July 27th. JPMorgan Chase & Co. raised their price target on shares of Southern from $101.00 to $104.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. Raymond James Financial reiterated an "outperform" rating and set a $104.00 price target on shares of Southern in a research note on Friday, May 1st. Finally, KeyCorp downgraded Southern from a "sector weight" rating to an "underweight" rating and set a $79.00 price objective for the company. in a research note on Thursday, July 23rd. 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.com, the stock presently 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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