Argent Trust Co Buys 29,637 Shares of Southern Company (The) $SO

Argent Trust Co grew its stake in shares of Southern Company (The) (NYSE:SO) by 68.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,676 shares of the utilities provider’s stock after purchasing an additional 29,637 shares during the period. Argent Trust Co’s holdings in Southern were worth $6,888,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in SO. Cloud Capital Management LLC bought a new position in Southern in the third quarter worth approximately $25,000. Grey Fox Wealth Advisors LLC acquired a new position in shares of Southern during the third quarter worth approximately $29,000. Steigerwald Gordon & Koch Inc. bought a new position in shares of Southern in the 3rd quarter worth $34,000. Chilton Capital Management LLC lifted its holdings in shares of Southern by 120.1% in the 3rd quarter. Chilton Capital Management LLC now owns 361 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 197 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Southern in the 3rd quarter valued at $35,000. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Southern Price Performance

Shares of NYSE SO opened at $97.38 on Friday. The company has a market capitalization of $107.22 billion, a PE ratio of 24.78, a PEG ratio of 2.91 and a beta of 0.45. The company has a quick ratio of 0.47, a current ratio of 0.65 and a debt-to-equity ratio of 1.69. The stock’s 50 day moving average price is $89.74 and its 200-day moving average price is $91.37. Southern Company has a twelve month low of $83.09 and a twelve month high of $100.83.

Southern (NYSE:SO) last issued its quarterly earnings results on Wednesday, February 18th. The utilities provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Southern had a return on equity of 12.52% and a net margin of 14.69%.The business had revenue of $6.98 billion for the quarter, compared to the consensus estimate of $6.41 billion. During the same quarter last year, the business posted $0.50 earnings per share. The business’s revenue was up 10.1% compared to the same quarter last year. On average, equities analysts anticipate that Southern Company will post 4.29 EPS for the current year.

Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Tuesday, February 17th will be given a dividend of $0.74 per share. The ex-dividend date is Tuesday, February 17th. This represents a $2.96 annualized dividend and a yield of 3.0%. Southern’s dividend payout ratio is presently 75.32%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SO shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $105.00 price objective on shares of Southern in a research note on Friday, January 23rd. Wall Street Zen lowered shares of Southern from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $102.00 price target on shares of Southern in a research report on Monday. Truist Financial set a $103.00 price target on Southern in a research note on Friday, February 20th. Finally, Barclays lowered their price objective on Southern from $91.00 to $88.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. Five analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $97.64.

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.