OLD National Bancorp IN Purchases New Stake in Southern Company (The) $SO

Key Points

• OLD National Bancorp IN recently acquired a new stake in Southern Company, purchasing 50,443 shares valued at approximately $4.6 million during the second quarter.
• Southern Company's recent earnings report showed $0.91 EPS, falling short of the consensus estimate of $0.99, despite a 7.9% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.74, reflecting an annualized dividend yield of 3.1% with a payout ratio of 76.09%.

OLD National Bancorp IN 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 disclosure with the SEC. The firm purchased 50,443 shares of the utilities provider's stock, valued at approximately $4,632,000.

Other large investors also recently modified their holdings of the company. Ameriflex Group Inc. increased its stake in shares of Southern by 275.0% during the second quarter. Ameriflex Group Inc. now owns 300 shares of the utilities provider's stock worth $27,000 after purchasing an additional 220 shares during the period. Cheviot Value Management LLC acquired a new position in Southern in the 1st quarter valued at $28,000. Financial Connections Group Inc. bought a new position in Southern during the 1st quarter worth $33,000. Accredited Wealth Management LLC acquired a new stake in shares of Southern during the first quarter worth $36,000. Finally, Saudi Central Bank bought a new stake in shares of Southern in the first quarter valued at about $40,000. 64.10% of the stock is owned by institutional investors.

Southern Stock Performance

Shares of SO opened at $94.56 on Monday. Southern Company has a one year low of $80.46 and a one year high of $96.44. The company has a market cap of $104.01 billion, a PE ratio of 24.31, a P/E/G ratio of 3.27 and a beta of 0.43. The stock has a 50-day moving average of $93.45 and a 200-day moving average of $91.48. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.74 and a quick ratio of 0.54.

Southern (NYSE:SO - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.08). Southern had a net margin of 15.10% and a return on equity of 12.09%. The firm had revenue of $6.97 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same quarter in the prior year, the firm earned $1.10 EPS. The company's revenue was up 7.9% compared to the same quarter last year. Southern has set its Q3 2025 guidance at 1.500-1.500 EPS. FY 2025 guidance at 4.200-4.300 EPS. On average, equities research analysts predict that Southern Company will post 4.29 EPS for the current fiscal year.

Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 18th were given a $0.74 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.96 annualized dividend and a yield of 3.1%. Southern's dividend payout ratio (DPR) is presently 76.09%.

Wall Street Analyst Weigh In

SO has been the subject of several analyst reports. Wall Street Zen cut shares of Southern from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Raymond James Financial started coverage on shares of Southern in a research report on Friday, June 13th. They set an "outperform" rating and a $98.00 target price on the stock. BMO Capital Markets upped their price target on shares of Southern from $98.00 to $102.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Mizuho lifted their price objective on Southern from $93.00 to $95.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Finally, Morgan Stanley dropped their price target on shares of Southern from $94.00 to $92.00 and set an "equal weight" rating on the stock in a research report on Thursday, September 25th. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Southern has an average rating of "Hold" and a consensus price target of $95.08.

Insider Transactions at Southern

In other news, CEO Kimberly S. Greene sold 13,158 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 93,661 shares of the company's stock, valued at $8,897,795. This represents a 12.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.16% of the company's stock.

About Southern

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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