Southern Company (The) $SO Position Increased by HB Wealth Management LLC

HB Wealth Management LLC boosted its holdings in Southern Company (The) (NYSE:SO) by 9.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 210,104 shares of the utilities provider’s stock after buying an additional 18,795 shares during the quarter. HB Wealth Management LLC’s holdings in Southern were worth $20,109,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SO. Evergreen Advisors LLC bought a new stake in shares of Southern during the 1st quarter worth $25,000. Scarborough Advisors LLC acquired a new stake in shares of Southern during the first quarter worth $25,000. Ankerstar Wealth LLC acquired a new stake in shares of Southern during the fourth quarter worth $25,000. Triumph Capital Management purchased a new stake in shares of Southern during the third quarter valued at $29,000. Finally, Cornerstone Financial Management LLC purchased a new stake in shares of Southern during the fourth quarter valued at $27,000. Institutional investors own 64.10% of the company’s stock.

Analyst Ratings Changes

SO has been the topic of a number of analyst reports. Truist Financial dropped their price target on Southern from $100.00 to $97.00 and set a “hold” rating on the stock in a research note on Thursday, August 13th. Mizuho set a $106.00 price objective on shares of Southern in a research note on Friday, July 31st. 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 report on Thursday, June 18th. Jefferies Financial Group set a $99.00 target price on shares of Southern in a research report on Monday, June 22nd. Finally, Wall Street Zen lowered shares of Southern from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. 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 company’s stock. According to data from MarketBeat, Southern has a consensus rating of “Hold” and an average price target of $100.09.

Southern Stock Down 1.0%

NYSE:SO opened at $87.90 on Friday. The business’s fifty day moving average price is $93.40 and its 200 day moving average price is $94.26. The firm has a market capitalization of $101.12 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 2.35 and a beta of 0.33. The company has a current ratio of 0.79, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62. Southern Company has a 1-year low of $83.80 and a 1-year high of $100.83.

Southern (NYSE:SO) last announced its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $1.13 EPS 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 analyst estimates of $7.23 billion. During the same period last year, the company posted $0.79 EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year. On average, sell-side analysts forecast that Southern Company will post 4.59 earnings per share for the current fiscal year.

Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, August 17th. Southern’s dividend payout ratio (DPR) is currently 72.90%.

Southern 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.