Evolve Private Wealth LLC Purchases Shares of 9,463 Southern Company (The) $SO

Evolve Private Wealth LLC purchased a new stake in shares of Southern Company (The) (NYSE:SO) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 9,463 shares of the utilities provider’s stock, valued at approximately $906,000.

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

Southern Stock Up 0.2%

SO opened at $89.09 on Monday. Southern Company has a 12 month low of $83.80 and a 12 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 business’s 50-day moving average price is $94.52 and its 200-day moving average price is $94.44. The company has a market cap of $102.49 billion, a P/E ratio of 21.36, a P/E/G ratio of 1.71 and a beta of 0.34.

Southern (NYSE:SO) last issued its earnings results on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.12. Southern had a return on equity of 12.93% and a net margin of 15.43%.The company had revenue of $6.98 billion during the quarter, compared to analysts’ expectations of $7.23 billion. During the same period in the prior year, the business posted $0.79 EPS. Southern’s quarterly revenue was up .1% compared to the same quarter last year. On average, equities analysts expect that Southern Company will post 4.58 EPS for the current year.

Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 17th will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, August 17th. Southern’s dividend payout ratio is 72.90%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Truist Financial reduced their target price on Southern from $100.00 to $97.00 and set a “hold” rating on the stock in a research note on Thursday, August 13th. Raymond James Financial reissued an “outperform” rating and set a $104.00 price objective on shares of Southern in a report on Friday, May 1st. JPMorgan Chase & Co. boosted their target price on Southern from $101.00 to $104.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Wall Street Zen lowered Southern from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, Jefferies Financial Group set a $99.00 price target on shares of Southern in a research note on Monday, June 22nd. Seven equities 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.com, the stock currently has a consensus rating of “Hold” and a consensus 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.