Dockside LLC Takes $2.84 Million Position in Southern Company (The) $SO

Dockside LLC purchased a new position in shares of Southern Company (The) (NYSE:SO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 29,642 shares of the utilities provider’s stock, valued at approximately $2,837,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in Southern during the fourth quarter worth about $1,111,450,000. Capital World Investors boosted its stake in Southern by 22.6% in the fourth quarter. Capital World Investors now owns 41,142,076 shares of the utilities provider’s stock valued at $3,587,589,000 after acquiring an additional 7,593,224 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Southern by 18.7% in the fourth 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 acquiring an additional 5,436,212 shares during the last quarter. Soroban Capital Partners LP grew its position in shares of Southern by 83.8% during the 2nd quarter. Soroban Capital Partners LP now owns 4,097,422 shares of the utilities provider’s stock valued at $376,266,000 after acquiring an additional 1,867,912 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Southern by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 108,057,413 shares of the utilities provider’s stock valued at $9,422,606,000 after acquiring an additional 1,643,090 shares during the period. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Analyst Upgrades and Downgrades

SO has been the topic of a number of research reports. BMO Capital Markets lifted their price target on shares of Southern from $102.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Truist Financial reduced their price objective on Southern from $100.00 to $97.00 and set a “hold” rating for the company in a report on Thursday. Mizuho set a $106.00 target price on Southern in a research note on Friday, July 31st. Raymond James Financial reaffirmed an “outperform” rating and set a $104.00 price target on shares of Southern in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. increased their price target on Southern from $101.00 to $104.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Seven 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $100.09.

Southern Stock Up 0.0%

Southern stock opened at $92.83 on Friday. The firm has a 50 day simple moving average of $94.69 and a 200 day simple moving average of $94.31. The company has a current ratio of 0.79, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62. Southern Company has a 1-year low of $83.80 and a 1-year high of $100.83. The firm has a market capitalization of $106.79 billion, a price-to-earnings ratio of 22.26, a P/E/G ratio of 1.78 and a beta of 0.34.

Southern (NYSE:SO) last posted 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. Southern had a return on equity of 12.93% and a net margin of 15.43%.The firm had revenue of $6.98 billion for the quarter, compared to the consensus estimate of $7.23 billion. During the same quarter in the prior year, the business posted $0.79 earnings per share. The business’s quarterly revenue was up .1% on a year-over-year basis. On average, analysts predict that Southern Company will post 4.58 earnings per share for the current year.

Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 17th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, August 17th. Southern’s payout ratio is presently 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.