True Freedom Investing LLC Makes New Investment in Southern Company (The) $SO

Key Points

• True Freedom Investing LLC acquired 58,431 shares of Southern Company worth approximately $5.64 million in the second quarter, while institutional investors collectively own 64.1% of the utility’s stock.
• Southern reported quarterly EPS of $1.13, beating estimates of $1.01, although revenue of $6.98 billion fell short of the $7.23 billion consensus forecast.
• The company declared a quarterly dividend of $0.76, equivalent to $3.04 annually and a 3.4% yield; analysts’ average rating is “Hold,” with an average price target of $100.09 versus the reported $89.09 share price.

True Freedom Investing LLC acquired a new position in Southern Company (The) (NYSE:SO - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 58,431 shares of the utilities provider's stock, valued at approximately $5,640,000. Southern makes up about 0.4% of True Freedom Investing LLC's holdings, making the stock its 24th largest holding.

A number of other hedge funds also recently bought and sold shares of SO. Haverford Trust Co purchased a new stake in Southern during the second quarter worth $1,201,000. Bank of Nova Scotia purchased a new position in shares of Southern in the 2nd quarter valued at $16,000,000. Compass Financial Management LLC bought a new position in shares of Southern in the 2nd quarter worth $475,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Southern during the 2nd quarter worth $8,940,000. Finally, Daiichi Life Insurance Co. Ltd. purchased a new stake in shares of Southern during the 2nd quarter worth $16,078,000. Hedge funds and other institutional investors own 64.10% of the company's stock.

Southern Stock Down 2.6%

NYSE:SO opened at $89.09 on Friday. The company has a market cap of $102.49 billion, a PE ratio of 21.36, a P/E/G ratio of 1.71 and a beta of 0.34. Southern Company has a twelve month low of $83.80 and a twelve month high of $100.83. The company has a current ratio of 0.79, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62. The company's 50 day moving average is $94.52 and its two-hundred day moving average is $94.40.

Southern (NYSE:SO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.12. Southern had a net margin of 15.43% and a return on equity of 12.93%. The business had revenue of $6.98 billion for the quarter, compared to analyst estimates of $7.23 billion. During the same quarter in the prior year, the business posted $0.79 EPS. Southern's revenue for the quarter was up .1% compared to the same quarter last year. Analysts anticipate that Southern Company will post 4.58 EPS for the current year.

Southern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, August 17th. Southern's dividend payout ratio is presently 72.90%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SO. Raymond James Financial reiterated an "outperform" rating and issued a $104.00 target price on shares of Southern in a report on Friday, May 1st. Mizuho set a $106.00 price objective on shares of Southern in a research report on Friday, July 31st. Weiss Ratings reiterated a "buy (b)" rating on shares of Southern in a research note on Wednesday, July 29th. Barclays decreased their target price on shares of Southern from $99.00 to $98.00 and set an "equal weight" rating for the company in a research report on Thursday, June 18th. Finally, Morgan Stanley lowered their target price on shares of Southern from $92.00 to $89.00 and set an "underweight" rating for the company in a research note on Friday. Seven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $100.09.

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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