Lee Johnson Capital Management LLC Makes New Investment in Southern Company (The) $SO

Lee Johnson Capital Management LLC bought a new stake in Southern Company (The) (NYSE:SO) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 23,449 shares of the utilities provider’s stock, valued at approximately $2,222,000.

A number of other hedge funds have also bought and sold shares of SO. Ameriflex Group Inc. raised its position in shares of Southern by 275.0% during the 2nd quarter. Ameriflex Group Inc. now owns 300 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 220 shares in the last quarter. Advantage Trust Co increased its stake in shares of Southern by 1,428.6% during the second quarter. Advantage Trust Co now owns 321 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 300 shares during the period. IMG Wealth Management Inc. bought a new stake in Southern during the second quarter worth approximately $38,000. Anfield Capital Management LLC lifted its position in Southern by 309.5% in the second quarter. Anfield Capital Management LLC now owns 430 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 325 shares during the period. Finally, Access Investment Management LLC acquired a new stake in Southern in the second quarter worth approximately $40,000. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Southern Trading Up 0.1%

NYSE:SO opened at $87.59 on Wednesday. The stock has a fifty day simple moving average of $89.58 and a 200 day simple moving average of $92.10. The firm has a market capitalization of $96.44 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 2.82 and a beta of 0.45. Southern Company has a 1-year low of $80.46 and a 1-year high of $100.83. The company has a quick ratio of 0.59, a current ratio of 0.75 and a debt-to-equity ratio of 1.69.

Southern (NYSE:SO) last announced its earnings results on Wednesday, October 29th. The utilities provider reported $1.60 EPS for the quarter, topping the consensus estimate of $1.51 by $0.09. The company had revenue of $7.82 billion during the quarter, compared to analysts’ expectations of $8.04 billion. Southern had a net margin of 15.42% and a return on equity of 12.52%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the company posted $1.39 earnings per share. Sell-side analysts forecast that Southern Company will post 4.29 earnings per share for the current year.

Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 8th. Investors of record on Monday, November 17th were issued a $0.74 dividend. The ex-dividend date was Monday, November 17th. This represents a $2.96 dividend on an annualized basis and a yield of 3.4%. Southern’s dividend payout ratio is currently 73.27%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SO shares. BTIG Research started coverage on Southern in a research note on Tuesday, October 21st. They issued a “neutral” rating on the stock. Jefferies Financial Group lowered their target price on Southern from $104.00 to $93.00 and set a “neutral” rating on the stock in a report on Monday, December 15th. The Goldman Sachs Group cut shares of Southern from a “buy” rating to a “neutral” rating and set a $98.00 price target on the stock. in a research report on Thursday, November 6th. TD Cowen started coverage on shares of Southern in a report on Thursday, October 16th. They issued a “buy” rating and a $112.00 price target for the company. Finally, LADENBURG THALM/SH SH restated a “neutral” rating and set a $102.50 price objective (up previously from $99.50) on shares of Southern in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Southern has an average rating of “Hold” and an average price target of $96.21.

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.