Southern Company (The) (SO) to Distribute Quarterly Dividend of $0.76 on September 8th

Southern Company (The) (NYSE:SO) announced a quarterly dividend on Monday, July 20th. Stockholders of record on Monday, August 17th will be given a dividend of 0.76 per share by the utilities provider on Tuesday, September 8th. This represents a c) annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, August 17th.

Southern has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 25 years. Southern has a dividend payout ratio of 66.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Southern to earn $4.92 per share next year, which means the company should continue to be able to cover its $3.04 annual dividend with an expected future payout ratio of 61.8%.

Southern Trading Up 0.0%

Shares of SO opened at $92.83 on Friday. Southern has a 1-year low of $83.80 and a 1-year 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 firm’s 50-day moving average price is $94.69 and its 200-day moving average price is $94.31. The firm has a market capitalization of $106.79 billion, a price-to-earnings ratio of 22.26, a PEG ratio of 1.78 and a beta of 0.34.

Southern (NYSE:SO) last released its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.12. Southern had a net margin of 15.43% and a return on equity of 12.93%. The company had revenue of $6.98 billion during the quarter, compared to the consensus estimate of $7.23 billion. During the same period in the prior year, the firm earned $0.79 earnings per share. Southern’s revenue was up .1% on a year-over-year basis. Sell-side analysts anticipate that Southern will post 4.58 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Jefferies Financial Group set a $99.00 target price on Southern in a report on Monday, June 22nd. Morgan Stanley restated an “underweight” rating on shares of Southern in a research note on Wednesday, July 22nd. Seaport Research Partners lowered Southern from a “buy” rating to a “neutral” rating in a research report on Monday, April 20th. Barclays reduced their price target on Southern from $99.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 18th. Finally, BMO Capital Markets increased their price objective on Southern from $102.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Seven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.