Mackenzie Financial Corp Boosts Stock Position in Southern Company (The) $SO

Key Points

• Mackenzie Financial Corp boosted its stake in Southern Company by 15.3% in the third quarter to 907,116 shares (about 0.08% of the company), with institutional investors and hedge funds owning roughly 64.1% of the stock.
• In its most recent quarter Southern reported EPS of $0.55, missing consensus by $0.01, while revenue of $6.98 billion topped expectations and rose 10.1% year-over-year.
• Southern pays a quarterly dividend of $0.74 ($2.96 annualized), a 3.1% yield with a payout ratio of 75.3%, and analysts hold a consensus rating of "Hold" with an average price target of $98.08 (mixed individual ratings).

Mackenzie Financial Corp raised its holdings in Southern Company (The) (NYSE:SO - Free Report) by 15.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 907,116 shares of the utilities provider's stock after buying an additional 120,592 shares during the period. Mackenzie Financial Corp owned about 0.08% of Southern worth $85,967,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cloud Capital Management LLC purchased a new position in shares of Southern in the 3rd quarter valued at about $25,000. Grey Fox Wealth Advisors LLC purchased a new stake in Southern during the third quarter worth approximately $29,000. Steigerwald Gordon & Koch Inc. purchased a new stake in Southern during the third quarter worth approximately $34,000. Chilton Capital Management LLC boosted its holdings in Southern by 120.1% in the third quarter. Chilton Capital Management LLC now owns 361 shares of the utilities provider's stock valued at $34,000 after purchasing an additional 197 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in Southern in the third quarter valued at approximately $35,000. 64.10% of the stock is owned by institutional investors and hedge funds.

Southern Price Performance

Shares of NYSE SO opened at $96.21 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.47 and a debt-to-equity ratio of 1.69. Southern Company has a twelve month low of $83.09 and a twelve month high of $100.83. The stock has a 50 day moving average of $91.36 and a two-hundred day moving average of $91.51. The stock has a market cap of $105.93 billion, a P/E ratio of 24.48, a P/E/G ratio of 2.91 and a beta of 0.44.

Southern (NYSE:SO - Get Free Report) last announced its earnings results on Wednesday, February 18th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.01). The business had revenue of $6.98 billion for the quarter, compared to analysts' expectations of $6.41 billion. Southern had a return on equity of 12.52% and a net margin of 14.69%.The business's revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted $0.50 earnings per share. On average, research analysts forecast that Southern Company will post 4.29 earnings per share for the current year.

Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th were given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, February 17th. Southern's dividend payout ratio (DPR) is presently 75.32%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Truist Financial set a $103.00 price objective on shares of Southern in a report on Friday, February 20th. TD Cowen upped their target price on shares of Southern from $108.00 to $112.00 and gave the company a "buy" rating in a report on Friday, March 6th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Southern in a research report on Wednesday, January 21st. Mizuho set a $104.00 price target on shares of Southern and gave the stock an "outperform" rating in a research note on Friday, February 20th. Finally, Wall Street Zen cut shares of Southern from a "hold" rating to a "sell" rating in a research report on Saturday, December 6th. Six analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Southern presently has an average rating of "Hold" and a consensus price target of $98.08.

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.

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