Waverly Advisors LLC Buys 12,518 Shares of Southern Company (The) $SO

Waverly Advisors LLC raised its position in shares of Southern Company (The) (NYSE:SO) by 3.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 347,945 shares of the utilities provider’s stock after purchasing an additional 12,518 shares during the period. Waverly Advisors LLC’s holdings in Southern were worth $33,302,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Evergreen Advisors LLC bought a new position in shares of Southern in the 1st quarter worth $25,000. Scarborough Advisors LLC purchased a new stake in Southern in the first quarter valued at about $25,000. Ankerstar Wealth LLC purchased a new stake in shares of Southern during the fourth quarter worth about $25,000. Triumph Capital Management purchased a new position in shares of Southern in the 3rd quarter valued at approximately $29,000. Finally, Cornerstone Financial Management LLC acquired a new stake in Southern in the 4th quarter worth approximately $27,000. 64.10% of the stock is currently owned by institutional investors.

Southern Price Performance

Shares of NYSE SO traded up $0.98 during midday trading on Tuesday, hitting $89.09. The stock had a trading volume of 6,416,290 shares, compared to its average volume of 5,761,003. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 1.62. The stock has a 50 day simple moving average of $93.22 and a 200-day simple moving average of $94.22. The company has a market capitalization of $102.49 billion, a PE ratio of 21.36, a P/E/G ratio of 2.35 and a beta of 0.33. Southern Company has a 1 year low of $83.80 and a 1 year high of $100.83.

Southern (NYSE:SO) last announced its earnings results on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.12. The company had revenue of $6.98 billion for the quarter, compared to analysts’ expectations of $7.23 billion. Southern had a net margin of 15.43% and a return on equity of 12.93%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.79 EPS. On average, sell-side analysts expect that Southern Company will post 4.59 EPS for the current fiscal year.

Southern Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have commented on SO. JPMorgan Chase & Co. lifted their price target on Southern from $101.00 to $104.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Jefferies Financial Group set a $99.00 price target on shares of Southern in a report on Monday, June 22nd. Truist Financial decreased their price objective on shares of Southern from $100.00 to $97.00 and set a “hold” rating for the company in a research report on Thursday, August 13th. Barclays lowered their target price on shares of 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, Weiss Ratings restated a “buy (b)” rating on shares of Southern in a research note on Wednesday, July 29th. Seven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Southern has an average rating of “Hold” and a consensus 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.