Southern Company (The) $SO Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC reduced its stake in shares of Southern Company (The) (NYSE:SO) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,476,938 shares of the utilities provider’s stock after selling 38,891 shares during the quarter. HighTower Advisors LLC’s holdings in Southern were worth $141,358,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Ankerstar Wealth LLC purchased a new stake in shares of Southern during the 4th quarter worth about $25,000. Evergreen Advisors LLC acquired a new stake in shares of Southern during the 1st quarter valued at about $25,000. Scarborough Advisors LLC purchased a new position in shares of Southern in the 1st quarter valued at about $25,000. J.Safra Asset Management Corp acquired a new position in Southern in the 4th quarter worth about $27,000. Finally, Cornerstone Financial Management LLC acquired a new position in Southern in the 4th quarter worth about $27,000. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Southern Stock Performance

SO opened at $87.90 on Monday. The firm has a market capitalization of $101.12 billion, a PE ratio of 21.08, a PEG ratio of 2.35 and a beta of 0.33. Southern Company has a twelve month low of $83.80 and a twelve month high of $100.83. The firm’s 50-day moving average price is $93.40 and its 200 day moving average price is $94.25. 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 (NYSE:SO) last announced its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.12. The company had revenue of $6.98 billion during 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%. Southern’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.79 EPS. As a group, sell-side analysts expect that Southern Company will post 4.59 EPS for the current fiscal year.

Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 17th will be given a $0.76 dividend. The ex-dividend date is Monday, August 17th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.5%. Southern’s dividend payout ratio is 72.90%.

Analysts Set New Price Targets

Several research analysts recently weighed in on SO shares. Morgan Stanley reduced their price target on shares of Southern from $92.00 to $89.00 and set an “underweight” rating for the company in a research report on Friday, August 21st. Truist Financial cut their price objective on Southern from $100.00 to $97.00 and set a “hold” rating for the company in a research note on Thursday, August 13th. JPMorgan Chase & Co. increased their target price on Southern from $101.00 to $104.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Jefferies Financial Group set a $99.00 target price on Southern in a research report on Monday, June 22nd. Finally, Weiss Ratings reaffirmed 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 given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, 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.