Korea Investment CORP Has $80.65 Million Position in Southern Company (The) $SO

Key Points

• Korea Investment CORP has increased its stake in Southern Company by 3.9%, now owning approximately 0.08% of the company worth about $80.65 million.
• Analyst ratings for Southern Company vary, with the stock receiving nine hold ratings and four buy ratings, leading to a consensus rating of "Hold" with an average price target of $94.29.
• The Southern Company recently announced a quarterly dividend of $0.74 per share, providing an annualized yield of approximately 3.1%.

Korea Investment CORP increased its position in shares of Southern Company (The) (NYSE:SO - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 877,094 shares of the utilities provider's stock after purchasing an additional 32,536 shares during the period. Korea Investment CORP owned approximately 0.08% of Southern worth $80,649,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Investors Research Corp raised its holdings in Southern by 400.0% in the 1st quarter. Investors Research Corp now owns 270 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 216 shares in the last quarter. Cheviot Value Management LLC acquired a new position in Southern in the 1st quarter valued at $28,000. Financial Connections Group Inc. acquired a new position in Southern in the 1st quarter valued at $33,000. Rossby Financial LCC acquired a new position in Southern in the 1st quarter valued at $39,000. Finally, Elequin Capital LP raised its holdings in Southern by 60.6% in the 4th quarter. Elequin Capital LP now owns 498 shares of the utilities provider's stock valued at $41,000 after acquiring an additional 188 shares in the last quarter. 64.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SO. Barclays lifted their price target on Southern from $90.00 to $91.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Wells Fargo & Company lifted their price target on Southern from $95.00 to $99.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Raymond James Financial began coverage on Southern in a research note on Friday, June 13th. They issued an "outperform" rating and a $98.00 price target on the stock. KeyCorp lowered Southern from a "sector weight" rating to an "underweight" rating and set a $78.00 price target on the stock. in a research note on Wednesday, May 14th. Finally, Morgan Stanley decreased their price target on Southern from $91.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $94.29.

Southern Trading Down 0.1%

NYSE SO opened at $94.07 on Monday. The business's 50-day moving average price is $92.49 and its two-hundred day moving average price is $90.25. Southern Company has a 12 month low of $80.46 and a 12 month high of $96.44. The firm has a market capitalization of $103.48 billion, a PE ratio of 24.18, a price-to-earnings-growth ratio of 3.25 and a beta of 0.38. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.69.

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

Southern Dividend Announcement

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

Insider Activity

In other news, CEO Kimberly S. Greene sold 13,158 shares of the business's stock in a transaction dated Monday, July 21st. The stock was 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. The trade was a 12.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is owned by corporate insiders.

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.

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