Meeder Advisory Services Inc. Acquires Shares of 25,679 Southern Company (The) $SO

Key Points

• Meeder Advisory Services acquired 25,679 shares of Southern Company worth approximately $2.46 million, while institutional investors collectively own 64.1% of the utility’s stock.
• Southern reported quarterly EPS of $1.13, beating estimates of $1.01, although revenue of $6.98 billion fell short of expectations. Analysts forecast full-year EPS of $4.58.
• The company announced a quarterly dividend of $0.76 per share, representing a $3.04 annualized payout and a 3.3% yield. Analysts maintain a consensus “Hold” rating with an average price target of $100.09, compared with a share price of $92.12.

Meeder Advisory Services Inc. acquired a new position in shares of Southern Company (The) (NYSE:SO - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 25,679 shares of the utilities provider's stock, valued at approximately $2,458,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SO. Vanguard Group Inc. lifted its position in shares of Southern by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 108,057,413 shares of the utilities provider's stock worth $9,422,606,000 after purchasing an additional 1,643,090 shares during the last quarter. Capital World Investors lifted its holdings in Southern by 22.6% during the 4th quarter. Capital World Investors now owns 41,142,076 shares of the utilities provider's stock worth $3,587,589,000 after buying an additional 7,593,224 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Southern by 18.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 34,459,462 shares of the utilities provider's stock worth $3,004,866,000 after acquiring an additional 5,436,212 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Southern by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 27,259,125 shares of the utilities provider's stock valued at $2,381,344,000 after acquiring an additional 384,860 shares in the last quarter. Finally, Norges Bank bought a new position in Southern during the fourth quarter worth $1,111,450,000. Institutional investors own 64.10% of the company's stock.

Southern Stock Down 0.2%

SO stock opened at $92.12 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 1.62. The firm's 50-day simple moving average is $94.69 and its 200 day simple moving average is $94.40. The stock has a market cap of $105.97 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 1.78 and a beta of 0.34. Southern Company has a fifty-two week low of $83.80 and a fifty-two week high of $100.83.

Southern (NYSE:SO - Get Free Report) last posted its earnings results on Wednesday, July 29th. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.01 by $0.12. Southern had a net margin of 15.43% and a return on equity of 12.93%. The firm had revenue of $6.98 billion during the quarter, compared to analysts' expectations of $7.23 billion. During the same quarter in the prior year, the firm earned $0.79 EPS. Southern's quarterly revenue was up .1% on a year-over-year basis. As a group, sell-side analysts predict that Southern Company will post 4.58 EPS for the current year.

Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.3%. The ex-dividend date is Monday, August 17th. Southern's dividend payout ratio (DPR) is currently 72.90%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SO shares. JPMorgan Chase & Co. boosted their target price on shares of Southern from $101.00 to $104.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. Mizuho set a $106.00 price target on shares of Southern in a report on Friday, July 31st. Wall Street Zen lowered shares of Southern from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Truist Financial decreased their target price on Southern from $100.00 to $97.00 and set a "hold" rating for the company in a research note on Thursday, August 13th. Finally, Jefferies Financial Group set a $99.00 target price on Southern in a report on Monday, June 22nd. Seven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $100.09.

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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