13,272 Shares in Southern Company (The) $SO Bought by Magnolia Capital Advisors LLC

Magnolia Capital Advisors LLC bought a new stake in Southern Company (The) (NYSE:SO) during the second quarter, Holdings Channel reports. The institutional investor bought 13,272 shares of the utilities provider’s stock, valued at approximately $1,270,000.

Several other institutional investors have also made changes to their positions in SO. Norges Bank acquired a new position in Southern in the fourth quarter worth approximately $1,111,450,000. Legal & General Group Plc bought a new stake in Southern in the second quarter worth approximately $737,256,000. Capital World Investors increased its stake in shares of Southern by 22.6% during the 4th quarter. Capital World Investors now owns 41,142,076 shares of the utilities provider’s stock worth $3,587,589,000 after purchasing an additional 7,593,224 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Southern by 18.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 34,459,462 shares of the utilities provider’s stock valued at $3,004,866,000 after purchasing an additional 5,436,212 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Southern in the 2nd quarter valued at $264,829,000. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SO has been the topic of several analyst reports. Mizuho set a $106.00 target price on shares of Southern in a research report on Friday, July 31st. Truist Financial lowered their price objective on Southern from $100.00 to $97.00 and set a “hold” rating on the stock in a report on Thursday, August 13th. Jefferies Financial Group set a $99.00 target price on Southern in a report on Monday, June 22nd. Wall Street Zen cut Southern from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, KeyCorp downgraded Southern from a “sector weight” rating to an “underweight” rating and set a $79.00 price target on the stock. in a report on Thursday, July 23rd. Seven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $100.09.

Southern Trading Down 0.1%

Shares of NYSE:SO opened at $89.88 on Thursday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.59 and a current ratio of 0.79. The stock’s 50-day moving average is $94.31 and its 200-day moving average is $94.43. The company has a market cap of $103.39 billion, a P/E ratio of 21.55, a P/E/G ratio of 1.73 and a beta of 0.34. Southern Company has a 52-week low of $83.80 and a 52-week high of $100.83.

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

Southern Announces Dividend

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

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.