Plan Group Financial LLC Invests $3.59 Million in Southern Company (The) $SO

Key Points

• Plan Group Financial LLC purchased 37,485 shares of Southern Company in the second quarter, valued at approximately $3.59 million. Institutional investors collectively own 64.1% of the utility’s shares.
• Southern reported quarterly EPS of $1.13, exceeding analysts’ $1.01 estimate, while revenue of $6.98 billion fell short of expectations. The company’s full-year EPS forecast is $4.58.
• Southern declared a quarterly dividend of $0.76 per share, equivalent to a $3.04 annualized payout and a 3.3% yield. Analysts maintain a consensus “Hold” rating with an average price target of $100.09.

Plan Group Financial LLC purchased a new position in shares of Southern Company (The) (NYSE:SO - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 37,485 shares of the utilities provider's stock, valued at approximately $3,588,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SO. Marble Wealth LLC purchased a new stake in shares of Southern in the fourth quarter worth approximately $4,443,000. D.A. Davidson & CO. lifted its stake in shares of Southern by 20.5% during the 4th quarter. D.A. Davidson & CO. now owns 99,386 shares of the utilities provider's stock worth $8,667,000 after acquiring an additional 16,878 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in Southern during the 4th quarter valued at $2,462,000. Mirae Asset Global Investments Co. Ltd. grew its position in Southern by 19.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 201,137 shares of the utilities provider's stock valued at $17,539,000 after acquiring an additional 32,933 shares during the last quarter. Finally, Mawer Investment Management Ltd. grew its position in Southern by 121.4% in the 4th quarter. Mawer Investment Management Ltd. now owns 1,767,773 shares of the utilities provider's stock valued at $154,150,000 after acquiring an additional 969,493 shares during the last quarter. 64.10% of the stock is owned by hedge funds and other institutional investors.

Southern Trading Up 0.0%

SO opened at $92.83 on Friday. The stock's fifty day moving average is $94.69 and its two-hundred day moving average is $94.31. The company has a market capitalization of $106.79 billion, a P/E ratio of 22.26, a PEG ratio of 1.78 and a beta of 0.34. Southern Company has a 52 week low of $83.80 and a 52 week high of $100.83. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 1.62.

Southern (NYSE:SO - Get Free Report) last issued its earnings results on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share 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 business had revenue of $6.98 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. Analysts forecast that Southern Company will post 4.58 earnings per share for the current year.

Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, August 17th. Southern's payout ratio is presently 72.90%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SO. Raymond James Financial reiterated an "outperform" rating and issued a $104.00 target price on shares of Southern in a research note on Friday, May 1st. Wall Street Zen lowered shares of Southern from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. KeyCorp cut shares of Southern from a "sector weight" rating to an "underweight" rating and set a $79.00 price target on the stock. in a report on Thursday, July 23rd. Truist Financial reduced their price target on shares of Southern from $100.00 to $97.00 and set a "hold" rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Southern from $101.00 to $104.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. Seven investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Southern presently has a consensus rating of "Hold" and an average 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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