Zions Bancorporation National Association UT Invests $5.43 Million in Southern Company (The) (NYSE:SO)

Key Points

• Zions Bancorporation has invested approximately $5.43 million in Southern Company, acquiring 59,081 shares during the first quarter.
• Southern Company reported a net margin of 15.10% with a revenue of $6.97 billion for the last quarter, outperforming analysts' expectations.
• The company announced a quarterly dividend of $0.74 per share, representing an annualized yield of 3.1%.

Zions Bancorporation National Association UT acquired a new position in Southern Company (The) (NYSE:SO - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 59,081 shares of the utilities provider's stock, valued at approximately $5,432,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC raised its holdings in Southern by 0.7% in the first quarter. Miracle Mile Advisors LLC now owns 15,928 shares of the utilities provider's stock worth $1,465,000 after purchasing an additional 110 shares in the last quarter. Keudell Morrison Wealth Management raised its stake in shares of Southern by 1.1% during the 1st quarter. Keudell Morrison Wealth Management now owns 10,032 shares of the utilities provider's stock worth $922,000 after buying an additional 110 shares during the period. West Branch Capital LLC raised its stake in Southern by 23.0% in the 1st quarter. West Branch Capital LLC now owns 616 shares of the utilities provider's stock valued at $57,000 after purchasing an additional 115 shares during the last quarter. PFW Advisors LLC increased its stake in shares of Southern by 1.9% in the 1st quarter. PFW Advisors LLC now owns 6,114 shares of the utilities provider's stock worth $562,000 after acquiring an additional 116 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. grew its holdings in shares of Southern by 1.4% during the 1st quarter. McGlone Suttner Wealth Management Inc. now owns 8,565 shares of the utilities provider's stock worth $788,000 after purchasing an additional 116 shares during the period. 64.10% of the stock is currently owned by institutional investors.

Southern Price Performance

Shares of SO traded down $0.11 during trading hours on Monday, hitting $94.58. 4,313,213 shares of the company were exchanged, compared to its average volume of 5,352,491. The company has a market capitalization of $104.04 billion, a PE ratio of 24.31, a PEG ratio of 3.27 and a beta of 0.38. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.74 and a quick ratio of 0.54. The firm has a fifty day simple moving average of $92.05 and a 200-day simple moving average of $89.98. Southern Company has a one year low of $80.46 and a one year high of $96.44.

Southern (NYSE:SO - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.08). Southern had a return on equity of 12.09% and a net margin of 15.10%. The firm had revenue of $6.97 billion for the quarter, compared to analysts' expectations of $6.70 billion. During the same quarter in the prior year, the business posted $1.10 earnings per share. Southern's revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts predict that Southern Company will post 4.29 earnings per share for the current year.

Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Monday, August 18th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, August 18th. Southern's payout ratio is presently 76.09%.

Insiders Place Their Bets

In other Southern news, CEO Kimberly S. Greene sold 13,158 shares of the company's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $95.00, for a total transaction of $1,250,010.00. Following the completion of the sale, the chief executive officer owned 93,661 shares in the company, valued at approximately $8,897,795. The trade was a 12.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.16% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Guggenheim reiterated a "neutral" rating and issued a $93.00 price objective on shares of Southern in a research note on Friday, May 2nd. Raymond James Financial started coverage on Southern in a research report on Friday, June 13th. They set an "outperform" rating and a $98.00 target price on the stock. Mizuho boosted their price target on Southern from $93.00 to $95.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Wells Fargo & Company boosted their price target on Southern from $95.00 to $99.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Finally, Wall Street Zen cut Southern from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $94.29.

Southern Company Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.