Energy Income Partners LLC Purchases New Stake in Southern Company (The) $SO

Energy Income Partners LLC acquired a new position in shares of Southern Company (The) (NYSE:SO) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 1,735,602 shares of the utilities provider’s stock, valued at approximately $166,114,000. Southern accounts for 2.6% of Energy Income Partners LLC’s portfolio, making the stock its 7th biggest holding.

A number of other large investors have also recently bought and sold shares of the company. Evergreen Advisors LLC acquired a new position in shares of Southern in the 1st quarter valued at approximately $25,000. Scarborough Advisors LLC acquired a new stake in shares of Southern during the 1st quarter worth approximately $25,000. Ankerstar Wealth LLC bought a new position in Southern in the fourth quarter valued at approximately $25,000. Triumph Capital Management bought a new position in Southern in the third quarter valued at approximately $29,000. Finally, Cornerstone Financial Management LLC acquired a new position in Southern during the fourth quarter valued at approximately $27,000. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Southern Price Performance

Southern stock opened at $92.12 on Wednesday. The stock has a market capitalization of $105.97 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 1.78 and a beta of 0.34. Southern Company has a 52-week low of $83.80 and a 52-week high of $100.83. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.59 and a current ratio of 0.79. The stock’s 50 day moving average price is $94.69 and its two-hundred day moving average price is $94.40.

Southern (NYSE:SO) last posted its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.12. Southern had a return on equity of 12.93% and a net margin of 15.43%.The business had revenue of $6.98 billion for the quarter, compared to the consensus estimate of $7.23 billion. During the same period in the prior year, the business earned $0.79 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities analysts predict that Southern Company will post 4.58 earnings per share for the current year.

Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Monday, August 17th. Southern’s dividend payout ratio is currently 72.90%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. BMO Capital Markets raised their target price on Southern from $102.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, July 27th. Weiss Ratings restated a “buy (b)” rating on shares of Southern in a research report on Wednesday, July 29th. Jefferies Financial Group set a $99.00 price objective on Southern in a research note on Monday, June 22nd. Truist Financial lowered their target price on Southern from $100.00 to $97.00 and set a “hold” rating for the company in a research note on Thursday, August 13th. Finally, KeyCorp cut shares of Southern from a “sector weight” rating to an “underweight” rating and set a $79.00 target price for the company. in a report on Thursday, July 23rd. Seven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.