Wealthfront Advisers LLC Purchases Shares of 209,303 Southern Company (The) $SO

Key Points

• Wealthfront Advisers purchased 209,303 shares of Southern Company, valued at approximately $20.0 million, establishing a new position. Institutional investors collectively own 64.1% of the company.
• Southern reported quarterly EPS of $1.13, beating analyst estimates of $1.01, while revenue totaled $6.98 billion, below expectations of $7.23 billion. Analysts project full-year EPS of $4.58.
• Southern declared a quarterly dividend of $0.76 per share, equivalent to $3.04 annually and a 3.3% yield. Analyst consensus remains “Hold,” with an average price target of $100.09 versus the reported share price of $92.12.

Wealthfront Advisers LLC purchased a new position in shares of Southern Company (The) (NYSE:SO - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 209,303 shares of the utilities provider's stock, valued at approximately $20,032,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SO. Uptick Partners LLC grew its stake in shares of Southern by 1.5% in the first quarter. Uptick Partners LLC now owns 7,601 shares of the utilities provider's stock valued at $734,000 after buying an additional 110 shares in the last quarter. Seelaus Asset Management LLC lifted its stake in Southern by 2.4% in the first quarter. Seelaus Asset Management LLC now owns 4,923 shares of the utilities provider's stock valued at $475,000 after acquiring an additional 115 shares during the last quarter. KCM Investment Advisors LLC lifted 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 valued at $3,313,000 after acquiring an additional 115 shares during the last quarter. Stokes Family Office LLC grew its position in shares of Southern by 0.7% in the 4th quarter. Stokes Family Office LLC now owns 15,994 shares of the utilities provider's stock valued at $1,395,000 after acquiring an additional 115 shares during the period. Finally, Leonteq Securities AG grew its position in shares of Southern by 4.7% in the 1st quarter. Leonteq Securities AG now owns 2,657 shares of the utilities provider's stock valued at $256,000 after acquiring an additional 119 shares during the period. Institutional investors own 64.10% of the company's stock.

Southern Price Performance

Shares of SO opened at $92.12 on Wednesday. The firm has a market capitalization of $105.97 billion, a PE ratio of 22.09, a PEG ratio of 1.78 and a beta of 0.34. The company's 50-day moving average is $94.69 and its 200-day moving average is $94.40. Southern Company has a fifty-two week low of $83.80 and a fifty-two week high of $100.83. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.79 and a quick ratio of 0.59.

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

Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 17th will be given a dividend of $0.76 per share. The ex-dividend date is Monday, August 17th. This represents a $3.04 annualized dividend and a yield of 3.3%. Southern's dividend payout ratio (DPR) is 72.90%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SO. Raymond James Financial reaffirmed an "outperform" rating and issued a $104.00 target price on shares of Southern in a report on Friday, May 1st. Wall Street Zen cut Southern from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. Mizuho set a $106.00 price target on Southern in a research report on Friday, July 31st. JPMorgan Chase & Co. upped their price objective on Southern from $101.00 to $104.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. Finally, Truist Financial cut their price objective on Southern from $100.00 to $97.00 and set a "hold" rating for the company in a research report on Thursday, August 13th. Seven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Southern presently has a consensus 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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