M3 Wealth Management LLC Buys Shares of 32,320 Southern Company (The) $SO

Key Points

• M3 Wealth Management LLC purchased 32,320 shares of Southern Company during the second quarter, valued at approximately $3.1 million and representing 2% of its portfolio. Institutional investors and hedge funds collectively own 64.1% of SO.
• Southern reported quarterly EPS of $1.13, exceeding analyst expectations of $1.01, while revenue reached $6.98 billion. The company declared a quarterly dividend of $0.76, equivalent to a 3.3% annual yield.
• Analysts maintain a consensus “Hold” rating with an average price target of $100.09, compared with the stock’s recent price of $92.83.

M3 Wealth Management LLC purchased a new stake in Southern Company (The) (NYSE:SO - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 32,320 shares of the utilities provider's stock, valued at approximately $3,093,000. Southern accounts for 2.0% of M3 Wealth Management LLC's investment portfolio, making the stock its 23rd biggest position.

A number of other institutional investors have also made changes to their positions in SO. Empowered Funds LLC increased its holdings in Southern by 17.5% in the first quarter. Empowered Funds LLC now owns 34,003 shares of the utilities provider's stock valued at $3,127,000 after purchasing an additional 5,067 shares during the last quarter. Schnieders Capital Management LLC. boosted its holdings in Southern by 0.7% during the second quarter. Schnieders Capital Management LLC. now owns 59,217 shares of the utilities provider's stock worth $5,438,000 after buying an additional 393 shares during the last quarter. WINTON GROUP Ltd acquired a new position in shares of Southern during the 2nd quarter worth about $655,000. Sei Investments Co. grew its position in shares of Southern by 11.5% during the 2nd quarter. Sei Investments Co. now owns 449,960 shares of the utilities provider's stock worth $41,320,000 after buying an additional 46,504 shares during the period. Finally, Treasurer of the State of North Carolina increased its stake in shares of Southern by 2.7% in the 2nd quarter. Treasurer of the State of North Carolina now owns 514,736 shares of the utilities provider's stock valued at $47,268,000 after acquiring an additional 13,392 shares during the last quarter. 64.10% of the stock is owned by institutional investors and hedge funds.

Southern Trading Up 0.0%

NYSE SO opened at $92.83 on Friday. Southern Company has a one year low of $83.80 and a one year high of $100.83. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.79 and a quick ratio of 0.59. The firm has a market cap of $106.79 billion, a P/E ratio of 22.26, a P/E/G ratio of 1.78 and a beta of 0.34. The stock's 50-day moving average is $94.69 and its 200-day moving average is $94.31.

Southern (NYSE:SO - Get Free Report) last issued its quarterly earnings data 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. Southern had a return on equity of 12.93% and a net margin of 15.43%.The business had revenue of $6.98 billion during the quarter, compared to analyst estimates of $7.23 billion. During the same period in the previous year, the firm earned $0.79 EPS. Southern's quarterly revenue was up .1% compared to the same quarter last year. Sell-side analysts anticipate that Southern Company will post 4.58 earnings per share for the current fiscal year.

Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 17th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, August 17th. Southern's dividend payout ratio is 72.90%.

Wall Street Analysts Forecast Growth

SO has been the topic of several recent analyst reports. Truist Financial reduced their price objective on shares of Southern from $100.00 to $97.00 and set a "hold" rating on the stock in a research note on Thursday. Mizuho set a $106.00 target price on shares of Southern in a research note on Friday, July 31st. BMO Capital Markets increased their target price on shares of Southern from $102.00 to $104.00 and gave the stock an "outperform" rating in a report on Monday, July 27th. Jefferies Financial Group set a $99.00 price target on shares of Southern in a research report on Monday, June 22nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Southern from $101.00 to $104.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. Seven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $100.09.

Southern Company 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.

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