Principle Wealth Partners LLC purchased a new stake in Southern Company (The) (NYSE:SO - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm purchased 100,553 shares of the utilities provider's stock, valued at approximately $9,624,000.
Other large investors have also recently made changes to their positions in the company. Evergreen Advisors LLC purchased a new stake in shares of Southern during the 1st quarter worth $25,000. Scarborough Advisors LLC purchased a new position in Southern in the first quarter valued at about $25,000. Ankerstar Wealth LLC bought a new position in Southern in the fourth quarter worth about $25,000. Cornerstone Financial Management LLC bought a new position in Southern in the fourth quarter worth about $27,000. Finally, J.Safra Asset Management Corp purchased a new stake in shares of Southern during the fourth quarter valued at about $27,000. 64.10% of the stock is owned by institutional investors.
Southern Price Performance
Shares of SO stock opened at $92.42 on Tuesday. Southern Company has a fifty-two week low of $83.80 and a fifty-two week high of $100.83. The firm has a market capitalization of $106.32 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 1.78 and a beta of 0.34. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.59 and a current ratio of 0.79. The stock's 50-day simple moving average is $94.71 and its 200-day simple moving average is $94.37.
Southern (NYSE:SO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.12. The firm had revenue of $6.98 billion for the quarter, compared to the consensus estimate of $7.23 billion. Southern had a net margin of 15.43% and a return on equity of 12.93%. The company's revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.79 earnings per share. As a group, equities analysts forecast that Southern Company will post 4.58 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. Shareholders of record on Monday, August 17th will be paid a dividend of $0.76 per share. The ex-dividend date is Monday, August 17th. This represents a $3.04 dividend on an annualized basis and a yield of 3.3%. Southern's dividend payout ratio is presently 72.90%.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on SO shares. Barclays lowered their price target on shares of 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. Jefferies Financial Group set a $99.00 target price on shares of Southern in a research report on Monday, June 22nd. Morgan Stanley restated an "underweight" rating on shares of Southern in a research note on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Southern in a report on Wednesday, July 29th. Seven 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. Based on data from MarketBeat.com, Southern currently has an average rating of "Hold" and a consensus price target of $100.09.
View Our Latest Analysis on SO
Southern Company Profile
(
Free Report)
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.
Further Reading
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