Integrated Wealth Concepts LLC Purchases 13,622 Shares of Southern Company (The) $SO

Key Points

• Integrated Wealth Concepts LLC increased its Southern Company stake by 17.3% in the second quarter, purchasing 13,622 additional shares and bringing its holdings to 92,556 shares valued at approximately $8.86 million. Institutional investors collectively own 64.1% of the company.
• Southern reported quarterly EPS of $1.13, exceeding analyst expectations of $1.01, while revenue reached $6.98 billion. Analysts expect full-year EPS of approximately $4.59.
• The utility maintains a quarterly dividend of $0.76 per share, equivalent to an annualized $3.04 dividend and a 3.5% yield. Despite the income appeal, analyst sentiment is broadly neutral, with an average “Hold” rating and a $100.09 price target.

Integrated Wealth Concepts LLC increased its position in Southern Company (The) (NYSE:SO - Free Report) by 17.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 92,556 shares of the utilities provider's stock after buying an additional 13,622 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Southern were worth $8,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Evergreen Advisors LLC acquired a new position in Southern in the 1st quarter valued at approximately $25,000. Scarborough Advisors LLC acquired a new position in shares of Southern during the first quarter worth $25,000. Ankerstar Wealth LLC bought a new stake in shares of Southern in the fourth quarter worth $25,000. Cornerstone Financial Management LLC acquired a new stake in Southern in the fourth quarter valued at $27,000. Finally, J.Safra Asset Management Corp acquired a new position in Southern during the 4th quarter worth about $27,000. Institutional investors own 64.10% of the company's stock.

Southern Trading Down 0.6%

NYSE SO opened at $87.82 on Friday. The stock has a market capitalization of $101.02 billion, a P/E ratio of 21.06, a P/E/G ratio of 2.35 and a beta of 0.33. The business has a 50 day simple moving average of $92.75 and a 200 day simple moving average of $94.12. 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 one year low of $83.80 and a one year high of $100.83.

Southern (NYSE:SO - Get Free Report) last issued its quarterly 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 for 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 company's revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.79 earnings per share. Research analysts expect that Southern Company will post 4.59 earnings per share for the current year.

Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 17th were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Monday, August 17th. Southern's payout ratio is presently 72.90%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SO. Morgan Stanley decreased their price target on Southern from $92.00 to $89.00 and set an "underweight" rating for the company in a research note on Friday, August 21st. JPMorgan Chase & Co. increased their target price 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. Wall Street Zen lowered shares of Southern from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. KeyCorp lowered shares of Southern from a "sector weight" rating to an "underweight" rating and set a $79.00 price objective on the stock. in a research note on Thursday, July 23rd. Finally, Truist Financial decreased their price objective on shares of Southern from $100.00 to $97.00 and set a "hold" rating for the company in a research report on Thursday, August 13th. Seven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Southern has an average rating of "Hold" and an average price target of $100.09.

About Southern

Southern Company NYSE: SO is an energy holding company that provides electricity and natural gas services through a group of regulated utility subsidiaries. Its electric utilities generate, transmit and distribute power to residential, commercial and industrial customers, while its gas businesses distribute natural gas and provide related energy services.

The company's principal electric subsidiaries include Alabama Power, Georgia Power and Mississippi Power. Southern Company also operates Southern Nuclear, which manages the company's nuclear generation interests, including the Vogtle nuclear expansion in Georgia.

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