Magnolia Capital Advisors LLC Buys Shares of 13,272 Southern Company (The) $SO

Key Points

• Magnolia Capital Advisors purchased 13,272 shares of Southern Company during the second quarter, valued at approximately $1.27 million. Institutional investors and hedge funds collectively own 64.1% of Southern’s stock.
• Southern reported quarterly EPS of $1.13, exceeding the $1.01 consensus estimate, while revenue reached $6.98 billion and rose slightly year over year.
• The company declared a quarterly dividend of $0.76 per share, equivalent to $3.04 annually and a 3.4% yield. Analysts maintain a consensus “Hold” rating with an average price target of $100.09.

Magnolia Capital Advisors LLC purchased a new stake in shares of Southern Company (The) (NYSE:SO - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,272 shares of the utilities provider's stock, valued at approximately $1,270,000.

A number of other large investors have also modified their holdings of SO. Norges Bank acquired a new stake in shares of Southern in the fourth quarter valued at approximately $1,111,450,000. Legal & General Group Plc bought a new position in Southern in the 2nd quarter worth approximately $737,256,000. Capital World Investors increased its position in Southern by 22.6% in the 4th quarter. Capital World Investors now owns 41,142,076 shares of the utilities provider's stock valued at $3,587,589,000 after acquiring an additional 7,593,224 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Southern by 18.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 34,459,462 shares of the utilities provider's stock valued at $3,004,866,000 after acquiring an additional 5,436,212 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Southern during the 2nd quarter worth $264,829,000. Institutional investors and hedge funds own 64.10% of the company's stock.

Southern Stock Down 0.1%

NYSE:SO opened at $89.88 on Thursday. The firm has a market capitalization of $103.39 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 1.73 and a beta of 0.34. Southern Company has a 1-year low of $83.80 and a 1-year high of $100.83. The company has a current ratio of 0.79, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62. The business's fifty day moving average price is $94.31 and its 200 day moving average price is $94.43.

Southern (NYSE:SO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $6.98 billion during the quarter, compared to the consensus estimate of $7.23 billion. During the same period in the prior year, the business earned $0.79 EPS. The business's revenue for the quarter was up .1% on a year-over-year basis. On average, sell-side analysts forecast that Southern Company will post 4.59 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. Investors of record on Monday, August 17th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, August 17th. Southern's dividend payout ratio (DPR) is currently 72.90%.

Analysts Set New Price Targets

A number of research analysts have recently commented on SO shares. JPMorgan Chase & Co. raised their price target on Southern from $101.00 to $104.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. Morgan Stanley dropped their price target on shares of Southern from $92.00 to $89.00 and set an "underweight" rating on the stock in a research report on Friday, August 21st. Barclays decreased their price objective on shares of Southern from $99.00 to $98.00 and set an "equal weight" rating for the company in a report on Thursday, June 18th. Weiss Ratings reissued a "buy (b)" rating on shares of Southern in a report on Wednesday, July 29th. Finally, Truist Financial decreased their price target on Southern from $100.00 to $97.00 and set a "hold" rating for the company in a research note on Thursday, August 13th. Seven equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $100.09.

About Southern

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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