Infrastructure Capital Advisors LLC Acquires Shares of 11,853 Southern Company (The) $SO

Key Points

• Infrastructure Capital Advisors acquired 11,853 shares of Southern Company during the second quarter, valued at approximately $1.13 million. Other institutional investors also initiated positions, with institutions and hedge funds owning 64.1% of the stock.
• Southern reported quarterly earnings of $1.13 per share, exceeding the $1.01 consensus estimate, while revenue reached $6.98 billion. Analysts expect full-year earnings of about $4.58 per share.
• The company declared a quarterly dividend of $0.76 per share, equivalent to an annualized $3.04 payout and a 3.4% yield. Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $100.09.

Infrastructure Capital Advisors LLC acquired a new stake in shares of Southern Company (The) (NYSE:SO - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,853 shares of the utilities provider's stock, valued at approximately $1,134,000.

A number of other hedge funds also recently added to or reduced their stakes in SO. Cibc World Market Inc. acquired a new position in Southern in the 2nd quarter valued at $2,936,000. Satovsky Asset Management LLC acquired a new stake in shares of Southern in the 2nd quarter worth $343,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Southern in the second quarter valued at about $7,868,000. Leigh Baldwin & CO. LLC purchased a new stake in shares of Southern in the second quarter valued at about $294,000. Finally, Osmosis Investment Management UK Ltd acquired a new position in shares of Southern during the second quarter worth about $8,530,000. 64.10% of the stock is owned by institutional investors and hedge funds.

Southern Trading Up 0.2%

NYSE:SO opened at $89.09 on Monday. The company has a market capitalization of $102.49 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 1.71 and a beta of 0.34. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 1.62. Southern Company has a 52-week low of $83.80 and a 52-week high of $100.83. The stock has a fifty day simple moving average of $94.52 and a 200-day simple moving average of $94.44.

Southern (NYSE:SO - Get Free Report) last released its quarterly 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 analyst estimates of $7.23 billion. Southern had a net margin of 15.43% and a return on equity of 12.93%. The company's quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business earned $0.79 earnings per share. On average, equities research analysts expect that Southern Company will post 4.58 earnings per share for the current fiscal year.

Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, August 17th. Southern's dividend payout ratio is presently 72.90%.

Wall Street Analysts Forecast Growth

SO has been the subject of a number of analyst reports. Barclays cut their target price on Southern from $99.00 to $98.00 and set an "equal weight" rating for the company in a research note on Thursday, June 18th. BMO Capital Markets lifted their price target on Southern from $102.00 to $104.00 and gave the company an "outperform" rating in a research note on Monday, July 27th. KeyCorp lowered Southern from a "sector weight" rating to an "underweight" rating and set a $79.00 price objective on the stock. in a report on Thursday, July 23rd. Wall Street Zen downgraded Southern from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. Finally, Jefferies Financial Group set a $99.00 target price on shares of Southern in a research report on Monday, June 22nd. Seven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $100.09.

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.

Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Company (The) (NYSE:SO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source