Navigate Wealth Management LLC Invests $990,000 in Southern Company (The) $SO

Navigate Wealth Management LLC purchased a new position in Southern Company (The) (NYSE:SO) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,770 shares of the utilities provider’s stock, valued at approximately $990,000. Southern accounts for about 0.7% of Navigate Wealth Management LLC’s holdings, making the stock its 29th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Assets Advisory LLC bought a new stake in shares of Southern during the first quarter valued at approximately $91,000. Trifecta Capital Advisors LLC bought a new position in Southern in the first quarter worth approximately $101,000. Anchor Investment Management LLC increased its holdings in Southern by 0.6% during the 1st quarter. Anchor Investment Management LLC now owns 75,927 shares of the utilities provider’s stock worth $7,328,000 after purchasing an additional 475 shares during the period. Associated Banc Corp increased its holdings in Southern by 17.3% during the 1st quarter. Associated Banc Corp now owns 109,048 shares of the utilities provider’s stock worth $10,525,000 after purchasing an additional 16,101 shares during the period. Finally, Diversify Wealth Management LLC bought a new stake in Southern during the 1st quarter valued at $1,279,000. Institutional investors own 64.10% of the company’s stock.

Southern Trading Up 0.0%

Shares of NYSE:SO opened at $95.62 on Monday. Southern Company has a 12-month low of $83.80 and a 12-month high of $100.83. The business’s fifty day simple moving average is $94.03 and its 200-day simple moving average is $93.14. The company has a market capitalization of $107.79 billion, a PE ratio of 24.33, a P/E/G ratio of 2.89 and a beta of 0.34. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 1.68.

Southern (NYSE:SO) last released its quarterly earnings results on Wednesday, April 29th. The utilities provider reported $1.32 EPS for the quarter, topping the consensus estimate of $1.21 by $0.11. The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.07 billion. Southern had a return on equity of 12.64% and a net margin of 14.46%.The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.23 EPS. As a group, equities research analysts predict that Southern Company will post 4.57 earnings per share for the current fiscal year.

Southern Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Monday, May 18th were issued a $0.76 dividend. This is a boost from Southern’s previous quarterly dividend of $0.74. This represents a $3.04 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Monday, May 18th. Southern’s dividend payout ratio is presently 77.35%.

Analyst Ratings Changes

Several brokerages have weighed in on SO. Weiss Ratings upgraded Southern from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Raymond James Financial restated an “outperform” rating and set a $104.00 price target on shares of Southern in a research note on Friday, May 1st. Seaport Research Partners downgraded Southern from a “buy” rating to a “neutral” rating in a report on Monday, April 20th. Citigroup reaffirmed a “buy” rating on shares of Southern in a research note on Friday, April 10th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $89.00 target price on shares of Southern in a report on Wednesday, June 24th. Seven research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $99.26.

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.