United Capital Financial Advisors LLC Makes New Investment in Southern Company (The) $SO

Key Points

• United Capital Financial Advisors purchased 81,604 shares of Southern Company valued at approximately $7.81 million in the second quarter. Institutional investors collectively own 64.1% of the utility’s stock.
• Southern reported quarterly EPS of $1.13, exceeding analyst expectations of $1.01, while revenue reached $6.98 billion. Shares recently opened at $88.94, below the analyst consensus price target of $100.09.
• The company declared a quarterly dividend of $0.76 per share, equivalent to an annualized $3.04 payout and a 3.4% yield; analysts maintain a consensus rating of Hold.

United Capital Financial Advisors LLC bought a new position in shares of Southern Company (The) (NYSE:SO - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 81,604 shares of the utilities provider's stock, valued at approximately $7,810,000.

A number of other institutional investors have also added to or reduced their stakes in SO. Uptick Partners LLC boosted its stake in shares of Southern by 1.5% during the first quarter. Uptick Partners LLC now owns 7,601 shares of the utilities provider's stock valued at $734,000 after purchasing an additional 110 shares in the last quarter. Seelaus Asset Management LLC increased its holdings in Southern by 2.4% during the first quarter. Seelaus Asset Management LLC now owns 4,923 shares of the utilities provider's stock valued at $475,000 after buying an additional 115 shares during the period. KCM Investment Advisors LLC raised its stake in Southern by 0.3% in the first quarter. KCM Investment Advisors LLC now owns 34,328 shares of the utilities provider's stock worth $3,313,000 after buying an additional 115 shares in the last quarter. Stokes Family Office LLC lifted its holdings in Southern by 0.7% during the fourth quarter. Stokes Family Office LLC now owns 15,994 shares of the utilities provider's stock worth $1,395,000 after buying an additional 115 shares during the period. Finally, Leonteq Securities AG lifted its holdings in Southern by 4.7% during the first quarter. Leonteq Securities AG now owns 2,657 shares of the utilities provider's stock worth $256,000 after buying an additional 119 shares during the period. Hedge funds and other institutional investors own 64.10% of the company's stock.

Southern Stock Performance

Shares of SO stock opened at $88.94 on Friday. Southern Company has a 12-month low of $83.80 and a 12-month high of $100.83. The business's fifty day simple moving average is $94.22 and its 200-day simple moving average is $94.42. 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 has a market cap of $102.32 billion, a PE ratio of 21.33, a PEG ratio of 1.72 and a beta of 0.34.

Southern (NYSE:SO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.12. Southern had a return on equity of 12.93% and a net margin of 15.43%.The firm had revenue of $6.98 billion during the quarter, compared to analysts' expectations of $7.23 billion. During the same quarter last year, the firm earned $0.79 EPS. The business's quarterly revenue was up .1% on a year-over-year basis. Analysts expect that Southern Company will post 4.59 earnings per share for the current fiscal year.

Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 17th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, August 17th. Southern's dividend payout ratio (DPR) is currently 72.90%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Jefferies Financial Group set a $99.00 price target on Southern in a research report on Monday, June 22nd. Raymond James Financial reaffirmed an "outperform" rating and set a $104.00 price objective on shares of Southern in a research report on Friday, May 1st. BMO Capital Markets boosted their target price on shares of Southern from $102.00 to $104.00 and gave the stock an "outperform" rating in a report on Monday, July 27th. Mizuho set a $106.00 target price on shares of Southern in a report on Friday, July 31st. Finally, KeyCorp lowered shares of Southern from a "sector weight" rating to an "underweight" rating and set a $79.00 price target for the company. in a research report on Thursday, July 23rd. Seven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $100.09.

About Southern

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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