Southern Company (The) $SO Shares Sold by Kenora Financial LLC

Kenora Financial LLC trimmed its position in Southern Company (The) (NYSE:SO) by 27.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,852 shares of the utilities provider’s stock after selling 5,723 shares during the quarter. Kenora Financial LLC’s holdings in Southern were worth $1,231,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Legal & General Group Plc purchased a new stake in Southern in the 2nd quarter valued at $737,256,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Southern during the 2nd quarter worth $264,829,000. Hsbc Holdings PLC acquired a new position in shares of Southern during the 2nd quarter valued at about $191,120,000. Energy Income Partners LLC acquired a new position in shares of Southern during the 2nd quarter valued at about $166,114,000. Finally, Jupiter Topco LLC purchased a new stake in shares of Southern in the second quarter valued at about $157,217,000. 64.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SO shares. Wall Street Zen upgraded shares of Southern from a “sell” rating to a “hold” rating in a research report on Saturday, September 19th. Truist Financial dropped their price target on shares of Southern from $97.00 to $93.00 and set a “hold” rating for the company in a research note on Thursday. KeyCorp cut their price target on shares of Southern from $79.00 to $74.00 and set an “underweight” rating for the company in a report on Tuesday, October 13th. Morgan Stanley reduced their price target on shares of Southern from $89.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, September 18th. Finally, Citigroup decreased their price objective on Southern from $114.00 to $104.00 and set a “buy” rating on the stock in a report on Friday, September 25th. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $98.47.

Southern Stock Down 2.1%

Shares of NYSE:SO opened at $89.30 on Tuesday. The company has a market capitalization of $102.73 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 2.40 and a beta of 0.31. Southern Company has a 12-month low of $81.69 and a 12-month high of $99.58. The business has a 50-day moving average price of $87.67 and a 200 day moving average price of $92.09. 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 posted its earnings results on Wednesday, July 29th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates 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%. Southern’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.79 earnings per share. Sell-side analysts expect that Southern Company will post 4.59 EPS for the current year.

Southern Company Profile

Southern Company (NYSE: SO) is an energy holding company headquartered in Atlanta, Georgia. Through its subsidiaries, the company generates, transmits, distributes and sells electricity, while also providing natural gas distribution and related energy services.

Southern’s electric utility operations include Alabama Power, Georgia Power and Mississippi Power, which serve customers across Alabama, Georgia and Mississippi. The company’s generation portfolio includes nuclear, natural gas, coal, hydroelectric and renewable energy resources.