Raleigh Capital Management Inc. Has $1.33 Million Position in Southern Company (The) $SO

Key Points

• Raleigh Capital Management Inc. reduced its stake in Southern Company by 17.8%, owning 14,452 shares valued at approximately $1.33 million.
• Southern Company reported Q2 2023 earnings of $0.91 EPS, missing analysts' expectations, but revenues increased by 7.9% year-over-year to $6.97 billion.
• The company announced a quarterly dividend of $0.74 per share, resulting in a dividend yield of 3.2% with a payout ratio of 76.09%.

Raleigh Capital Management Inc. cut its position in Southern Company (The) (NYSE:SO - Free Report) by 17.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,452 shares of the utilities provider's stock after selling 3,123 shares during the quarter. Raleigh Capital Management Inc.'s holdings in Southern were worth $1,327,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Intech Investment Management LLC raised its position in shares of Southern by 35.8% in the 1st quarter. Intech Investment Management LLC now owns 116,059 shares of the utilities provider's stock valued at $10,672,000 after buying an additional 30,618 shares in the last quarter. Investors Research Corp increased its position in Southern by 1,982.6% during the 2nd quarter. Investors Research Corp now owns 5,623 shares of the utilities provider's stock worth $516,000 after purchasing an additional 5,353 shares in the last quarter. Czech National Bank increased its position in Southern by 6.8% during the 2nd quarter. Czech National Bank now owns 268,648 shares of the utilities provider's stock worth $24,670,000 after purchasing an additional 17,111 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. acquired a new position in Southern during the 2nd quarter worth approximately $2,352,000. Finally, GAMMA Investing LLC increased its position in Southern by 23.2% during the 1st quarter. GAMMA Investing LLC now owns 21,253 shares of the utilities provider's stock worth $1,954,000 after purchasing an additional 4,005 shares in the last quarter. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Southern Trading Down 0.8%

NYSE:SO opened at $93.79 on Tuesday. The firm's fifty day moving average is $93.52 and its 200-day moving average is $91.36. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.54 and a current ratio of 0.74. Southern Company has a 52 week low of $80.46 and a 52 week high of $96.44. The firm has a market cap of $103.18 billion, a P/E ratio of 24.11, a P/E/G ratio of 3.27 and a beta of 0.41.

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

Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 18th were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.96 annualized dividend and a yield of 3.2%. Southern's dividend payout ratio is currently 76.09%.

Insider Transactions at Southern

In related news, CEO Kimberly S. Greene sold 13,158 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $95.00, for a total transaction of $1,250,010.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SO has been the subject of a number of research analyst reports. Scotiabank upped their price objective on shares of Southern from $98.00 to $99.00 and gave the stock a "sector outperform" rating in a research report on Friday, August 1st. Morgan Stanley lowered their price objective on shares of Southern from $94.00 to $92.00 and set an "equal weight" rating for the company in a research report on Thursday, September 25th. Barclays upped their price objective on shares of Southern from $90.00 to $91.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Wall Street Zen lowered shares of Southern from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Southern from $97.00 to $98.00 and gave the stock a "neutral" rating in a report on Thursday, August 21st. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $95.08.

Southern Company Profile

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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