Southern Company (The) $SO Stake Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank raised its stake in Southern by 20.7% to 340,486 shares, worth about $29.69 million at quarter-end, while institutional investors now own roughly 64.1% of the stock.
• Southern increased its quarterly dividend to $0.76 from $0.74, implying a $3.04 annualized payout and a ~3.3% yield, with an ex-dividend date of May 18 and payment on June 8.
• The company reported $0.55 EPS (missing estimates by $0.01) but beat revenue expectations at $6.98 billion, and the sell-side consensus is a Hold with a $99.08 price target.

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Southern Company (The) (NYSE:SO - Free Report) by 20.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 340,486 shares of the utilities provider's stock after buying an additional 58,304 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Southern were worth $29,690,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SO. Empowered Funds LLC grew its stake in Southern by 17.5% during the 1st quarter. Empowered Funds LLC now owns 34,003 shares of the utilities provider's stock worth $3,127,000 after buying an additional 5,067 shares during the last quarter. Schnieders Capital Management LLC. grew its stake in shares of Southern by 0.7% in the second quarter. Schnieders Capital Management LLC. now owns 59,217 shares of the utilities provider's stock worth $5,438,000 after purchasing an additional 393 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of Southern in the second quarter worth $655,000. Sei Investments Co. grew its stake in shares of Southern by 11.5% in the second quarter. Sei Investments Co. now owns 449,960 shares of the utilities provider's stock worth $41,320,000 after purchasing an additional 46,504 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in shares of Southern by 2.7% in the second quarter. Treasurer of the State of North Carolina now owns 514,736 shares of the utilities provider's stock worth $47,268,000 after purchasing an additional 13,392 shares in the last quarter. 64.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SO shares. Morgan Stanley decreased their price target on Southern from $94.00 to $92.00 and set an "underweight" rating for the company in a research note on Tuesday. Truist Financial started coverage on Southern in a research note on Tuesday. They issued a "hold" rating and a $103.00 price target for the company. Barclays increased their price target on Southern from $88.00 to $99.00 and gave the stock an "equal weight" rating in a research note on Friday, April 10th. BMO Capital Markets restated an "outperform" rating on shares of Southern in a report on Friday, February 20th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Southern in a report on Wednesday, January 21st. Seven investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $99.08.

Southern Trading Down 1.6%

Shares of NYSE SO opened at $92.04 on Wednesday. Southern Company has a 12 month low of $83.09 and a 12 month high of $100.83. The company has a market cap of $103.85 billion, a price-to-earnings ratio of 23.42, a P/E/G ratio of 2.82 and a beta of 0.41. The company has a quick ratio of 0.47, a current ratio of 0.65 and a debt-to-equity ratio of 1.69. The business has a fifty day simple moving average of $95.76 and a 200-day simple moving average of $92.19.

Southern (NYSE:SO - Get Free Report) last announced its earnings results on Wednesday, February 18th. The utilities provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01). Southern had a net margin of 14.69% and a return on equity of 12.52%. The company had revenue of $6.98 billion for the quarter, compared to analysts' expectations of $6.41 billion. During the same period in the prior year, the company earned $0.50 earnings per share. The company's revenue for the quarter was up 10.1% on a year-over-year basis. Sell-side analysts predict that Southern Company will post 4.58 EPS for the current year.

Southern Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 8th. Investors of record on Monday, May 18th will be given a $0.76 dividend. This is a boost from Southern's previous quarterly dividend of $0.74. The ex-dividend date is Monday, May 18th. This represents a $3.04 annualized dividend and a dividend yield of 3.3%. Southern's payout ratio is currently 75.32%.

Insider Activity at Southern

In related news, CEO Kimberly S. Greene sold 25,000 shares of the company's stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $96.67, for a total value of $2,416,750.00. Following the completion of the sale, the chief executive officer owned 103,602 shares in the company, valued at approximately $10,015,205.34. This represents a 19.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christopher Cummiskey sold 6,669 shares of the company's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $96.55, for a total transaction of $643,891.95. Following the completion of the sale, the executive vice president owned 30,800 shares of the company's stock, valued at approximately $2,973,740. This trade represents a 17.80% decrease in their position. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by corporate insiders.

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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