Ascentis Independent Advisors Boosts Stake in Southern Company (The) $SO

Ascentis Independent Advisors boosted its stake in shares of Southern Company (The) (NYSE:SO) by 65.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 23,067 shares of the utilities provider’s stock after purchasing an additional 9,166 shares during the quarter. Ascentis Independent Advisors’ holdings in Southern were worth $2,227,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Ankerstar Wealth LLC purchased a new position in Southern during the fourth quarter worth about $25,000. Cornerstone Financial Management LLC purchased a new position in shares of Southern during the 4th quarter worth approximately $27,000. J.Safra Asset Management Corp purchased a new position in shares of Southern during the fourth quarter worth $27,000. Triumph Capital Management acquired a new position in Southern in the 3rd quarter valued at about $29,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Southern in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Southern Stock Down 2.0%

Southern stock opened at $95.99 on Tuesday. The stock has a market cap of $108.21 billion, a PE ratio of 24.42, a P/E/G ratio of 2.96 and a beta of 0.34. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.65 and a quick ratio of 0.45. The stock’s fifty day moving average is $93.86 and its two-hundred day moving average is $92.87. Southern Company has a 1-year low of $83.80 and a 1-year high of $100.83.

Southern (NYSE:SO) last released its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.11. Southern had a return on equity of 12.64% and a net margin of 14.46%.The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.07 billion. During the same period in the prior year, the firm posted $1.23 EPS. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts expect that Southern Company will post 4.58 EPS for the current fiscal year.

Southern Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Monday, May 18th were paid a $0.76 dividend. This is an increase from Southern’s previous quarterly dividend of $0.74. This represents a $3.04 annualized dividend and a yield of 3.2%. The ex-dividend date was Monday, May 18th. Southern’s payout ratio is currently 77.35%.

Analyst Ratings Changes

Several brokerages have commented on SO. Truist Financial decreased their price target on shares of Southern from $103.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, May 29th. Weiss Ratings upgraded Southern from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Morgan Stanley reissued an “underweight” rating and set a $89.00 target price on shares of Southern in a research note on Wednesday, June 24th. Jefferies Financial Group set a $99.00 price target on Southern in a report on Monday, June 22nd. Finally, Seaport Research Partners cut Southern from a “buy” rating to a “neutral” rating in a research note on Monday, April 20th. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $99.26.

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.