Southern Company (The) $SO Shares Acquired by Glenmede Trust Co. NA

Key Points

• Glenmede Trust increased its Southern Company stake by 19.1% in the first quarter, adding 14,798 shares to reach 92,289 shares valued at approximately $8.9 million. Institutional investors collectively own 64.1% of SO.
• Southern reported quarterly EPS of $1.13, exceeding the $1.01 consensus estimate, while revenue of $6.98 billion fell short of expectations. The company’s stock opened at $93.02, below its 50- and 200-day moving averages.
• Southern declared a quarterly dividend of $0.76 per share, or $3.04 annually, representing a 3.3% yield. Analysts maintain a consensus “Hold” rating with an average price target of $100.26.

Glenmede Trust Co. NA boosted its stake in Southern Company (The) (NYSE:SO - Free Report) by 19.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,289 shares of the utilities provider's stock after buying an additional 14,798 shares during the period. Glenmede Trust Co. NA's holdings in Southern were worth $8,908,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SO. Evergreen Advisors LLC acquired a new stake in shares of Southern in the 1st quarter worth about $25,000. Scarborough Advisors LLC acquired a new position in Southern during the 1st quarter valued at about $25,000. Ankerstar Wealth LLC bought a new position in Southern in the 4th quarter worth about $25,000. Triumph Capital Management acquired a new stake in shares of Southern in the third quarter valued at approximately $29,000. Finally, Cornerstone Financial Management LLC acquired a new stake in shares of Southern in the fourth quarter valued at approximately $27,000. 64.10% of the stock is currently owned by institutional investors.

Southern Stock Down 1.6%

SO opened at $93.02 on Tuesday. The stock's fifty day moving average is $94.56 and its 200-day moving average is $94.09. Southern Company has a one year low of $83.80 and a one year high of $100.83. The company has a market capitalization of $104.86 billion, a PE ratio of 22.31, a P/E/G ratio of 1.82 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.

Southern (NYSE:SO - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.01 by $0.12. Southern had a net margin of 15.43% and a return on equity of 12.93%. The firm had revenue of $6.98 billion for the quarter, compared to analysts' expectations of $7.23 billion. During the same period in the previous year, the business earned $0.79 earnings per share. Southern's revenue for the quarter was up .1% compared to the same quarter last year. On average, equities analysts predict that Southern Company will post 4.58 EPS for the current fiscal year.

Southern Announces Dividend

The firm also recently announced 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 dividend on an annualized basis 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

Several brokerages have recently issued reports on SO. Morgan Stanley reissued an "underweight" rating on shares of Southern in a report on Wednesday, July 22nd. Truist Financial cut their target price on Southern from $103.00 to $100.00 and set a "hold" rating on the stock in a research note on Friday, May 29th. Citigroup reiterated a "buy" rating on shares of Southern in a research report on Friday, April 10th. Seaport Research Partners lowered Southern from a "buy" rating to a "neutral" rating in a report on Monday, April 20th. 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 research note on Thursday, July 16th. Seven research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $100.26.

Southern 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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