Cetera Investment Advisers Has $77.07 Million Stake in Southern Company (The) $SO

Cetera Investment Advisers lifted its position in shares of Southern Company (The) (NYSE:SO) by 4.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 798,489 shares of the utilities provider’s stock after purchasing an additional 33,363 shares during the period. Cetera Investment Advisers’ holdings in Southern were worth $77,070,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SO. Evergreen Advisors LLC acquired a new position in Southern in the 1st quarter valued at $25,000. Scarborough Advisors LLC bought a new position in Southern during the 1st 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 bought a new stake in shares of Southern in the third quarter valued at about $29,000. Finally, Cornerstone Financial Management LLC bought a new stake in shares of Southern in the fourth quarter valued at about $27,000. 64.10% of the stock is owned by institutional investors and hedge funds.

Southern Price Performance

SO stock opened at $96.53 on Friday. The company’s 50-day moving average price is $94.34 and its two-hundred day moving average price is $93.67. The firm has a market cap of $108.81 billion, a P/E ratio of 24.56, a P/E/G ratio of 1.88 and a beta of 0.34. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 1.68. Southern Company has a 12 month low of $83.80 and a 12 month high of $100.83.

Southern (NYSE:SO) last posted its quarterly earnings results on Wednesday, April 29th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.11. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.07 billion. Southern had a net margin of 14.46% and a return on equity of 12.64%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $1.23 EPS. On average, analysts anticipate that Southern Company will post 4.58 earnings per share for the current fiscal year.

Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 17th will be paid a dividend of $0.76 per share. The ex-dividend date is Monday, August 17th. This represents a $3.04 annualized dividend and a yield of 3.1%. Southern’s dividend payout ratio is presently 77.35%.

Analysts Set New Price Targets

A number of equities analysts recently commented on SO shares. Barclays lowered their price target on shares of Southern from $99.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 18th. Truist Financial lowered their target price on shares of Southern from $103.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, May 29th. Wall Street Zen upgraded shares of Southern from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Raymond James Financial reiterated an “outperform” rating and issued a $104.00 price target on shares of Southern in a research note on Friday, May 1st. Finally, BMO Capital Markets reduced their price target on Southern from $105.00 to $102.00 and set an “outperform” rating on the stock in a research report on Wednesday. Seven analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $100.09.

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.