Southern Company (The) $SO Stock Position Increased by Asset Management One Co. Ltd.

Key Points

• Asset Management One increased its Southern Company position by 2.3% in the third quarter, bringing its holdings to 539,204 shares valued at approximately $44.7 million. Institutional investors collectively own 64.1% of the utility company.
• Southern reported quarterly earnings of $1.13 per share, beating analysts’ $1.01 estimate, while revenue reached $6.98 billion. Analysts expect full-year earnings of approximately $4.59 per share.
• The company declared a quarterly dividend of $0.76 per share, equivalent to a 3.3% annualized yield. Analysts have a consensus “Hold” rating and an average price target of $98.24, above the reported share price of $91.48.

Asset Management One Co. Ltd. grew its holdings in Southern Company (The) (NYSE:SO - Free Report) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 539,204 shares of the utilities provider's stock after acquiring an additional 12,123 shares during the period. Asset Management One Co. Ltd.'s holdings in Southern were worth $44,695,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SO. Bank of America Corp DE lifted its holdings in shares of Southern by 4.9% in the 1st quarter. Bank of America Corp DE now owns 8,380,592 shares of the utilities provider's stock valued at $808,895,000 after buying an additional 392,210 shares during the period. Legal & General Group Plc acquired a new stake in Southern during the second quarter worth about $737,256,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Southern by 9.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,681,674 shares of the utilities provider's stock worth $543,793,000 after acquiring an additional 508,149 shares during the period. Swiss National Bank raised its position in Southern by 7.2% during the first quarter. Swiss National Bank now owns 3,231,400 shares of the utilities provider's stock valued at $311,895,000 after acquiring an additional 216,900 shares in the last quarter. Finally, National Pension Service raised its position in Southern by 1.9% during the second quarter. National Pension Service now owns 2,932,978 shares of the utilities provider's stock valued at $280,715,000 after acquiring an additional 54,111 shares in the last quarter. Institutional investors and hedge funds own 64.10% of the company's stock.

Southern Trading Down 1.3%

Shares of NYSE:SO opened at $91.48 on Thursday. Southern Company has a 1 year low of $81.69 and a 1 year high of $99.58. The firm has a market capitalization of $105.24 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 2.44 and a beta of 0.31. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.79 and a quick ratio of 0.59. The business's 50 day moving average price is $87.72 and its 200-day moving average price is $92.29.

Southern (NYSE:SO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.01 by $0.12. The company had revenue of $6.98 billion during the quarter, compared to analyst estimates of $7.23 billion. Southern had a net margin of 15.43% and a return on equity of 12.93%. The firm's revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 EPS. On average, equities research analysts forecast that Southern Company will post 4.59 earnings per share for the current fiscal year.

Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 7th. Stockholders of record on Monday, November 16th will be given a $0.76 dividend. The ex-dividend date is Monday, November 16th. This represents a $3.04 annualized dividend and a dividend yield of 3.3%. Southern's dividend payout ratio (DPR) is 72.90%.

Analysts Set New Price Targets

A number of research analysts have issued reports on SO shares. Barclays decreased their price target on Southern from $101.00 to $92.00 and set an "equal weight" rating for the company in a report on Friday, October 16th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Southern in a research note on Tuesday. Citigroup dropped their price objective on shares of Southern from $114.00 to $104.00 and set a "buy" rating on the stock in a research note on Friday, September 25th. Truist Financial cut their target price on shares of Southern from $97.00 to $93.00 and set a "hold" rating for the company in a report on Thursday, October 15th. Finally, DA Davidson set a $98.00 target price on shares of Southern in a research note on Wednesday, October 21st. Eight analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $98.24.

Southern Profile

Southern Company NYSE: SO is an energy holding company headquartered in Atlanta, Georgia. Through its subsidiaries, the company generates, transmits, distributes and sells electricity, while also providing natural gas distribution and related energy services.

Southern's electric utility operations include Alabama Power, Georgia Power and Mississippi Power, which serve customers across Alabama, Georgia and Mississippi. The company's generation portfolio includes nuclear, natural gas, coal, hydroelectric and renewable energy resources.

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