Osmosis Investment Management UK Ltd Acquires New Holdings in Southern Company (The) $SO

Key Points

• Osmosis Investment Management acquired 89,127 shares of Southern Company worth approximately $8.53 million, while institutional investors collectively own 64.1% of the utility’s stock.
• Southern reported quarterly earnings of $1.13 per share, exceeding analyst expectations of $1.01, although revenue of $6.98 billion fell short of the $7.23 billion consensus estimate.
• 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.

Osmosis Investment Management UK Ltd acquired a new stake in Southern Company (The) (NYSE:SO - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 89,127 shares of the utilities provider's stock, valued at approximately $8,530,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SO. Evergreen Advisors LLC acquired a new stake in Southern during the first quarter valued at approximately $25,000. Scarborough Advisors LLC acquired a new stake in shares of Southern during the 1st quarter valued at $25,000. Ankerstar Wealth LLC acquired a new stake in shares of Southern during the 4th quarter valued at $25,000. Cornerstone Financial Management LLC bought a new stake in shares of Southern during the 4th quarter worth $27,000. Finally, J.Safra Asset Management Corp acquired a new position in shares of Southern in the 4th quarter valued at $27,000. Institutional investors own 64.10% of the company's stock.

Southern Stock Up 0.2%

Shares of NYSE SO opened at $89.09 on Monday. Southern Company has a 12-month low of $83.80 and a 12-month high of $100.83. The firm's 50-day simple moving average is $94.52 and its 200 day simple moving average is $94.44. 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 company has a market cap of $102.49 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 1.71 and a beta of 0.34.

Southern (NYSE:SO - Get Free Report) last released its earnings results on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.12. Southern had a return on equity of 12.93% and a net margin of 15.43%.The company had revenue of $6.98 billion during the quarter, compared to the consensus estimate of $7.23 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. The firm's quarterly revenue was up .1% on a year-over-year basis. On average, research analysts expect that Southern Company will post 4.58 earnings per share for the current fiscal year.

Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 17th will be issued a $0.76 dividend. The ex-dividend date is Monday, August 17th. This represents a $3.04 annualized dividend and a yield of 3.4%. Southern's dividend payout ratio (DPR) is 72.90%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SO shares. Barclays dropped their target price on Southern from $99.00 to $98.00 and set an "equal weight" rating on the stock in a report on Thursday, June 18th. Truist Financial reduced their price objective on shares of Southern from $100.00 to $97.00 and set a "hold" rating for the company in a research note on Thursday, August 13th. Mizuho set a $106.00 target price on Southern in a research note on Friday, July 31st. BMO Capital Markets boosted their price objective on shares of Southern from $102.00 to $104.00 and gave the stock an "outperform" rating in a report on Monday, July 27th. Finally, JPMorgan Chase & Co. boosted their price objective on Southern from $101.00 to $104.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. Seven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price 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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