Dearborn Partners LLC Invests $1.63 Million in Southern Company (The) $SO

Dearborn Partners LLC bought a new position in shares of Southern Company (The) (NYSE:SO) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,881 shares of the utilities provider’s stock, valued at approximately $1,629,000.

Other hedge funds have also added to or reduced their stakes in the company. Asset One Wealth Management LLC acquired a new stake in Southern in the 2nd quarter valued at $252,000. Investor s Fiduciary Advisor Network LLC acquired a new position in shares of Southern during the 2nd quarter worth about $1,377,000. Infrastructure Capital Advisors LLC bought a new position in shares of Southern in the 2nd quarter valued at about $1,134,000. Cibc World Market Inc. bought a new position in shares of Southern in the 2nd quarter valued at about $2,936,000. Finally, Satovsky Asset Management LLC acquired a new stake in shares of Southern in the second quarter valued at about $343,000. Institutional investors own 64.10% of the company’s stock.

Southern Trading Up 1.3%

SO opened at $90.10 on Tuesday. The company’s 50 day moving average is $94.45 and its 200-day moving average is $94.44. Southern Company has a 1-year low of $83.80 and a 1-year high of $100.83. The company has a current ratio of 0.79, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62. The company has a market cap of $103.65 billion, a P/E ratio of 21.61, a PEG ratio of 1.71 and a beta of 0.34.

Southern (NYSE:SO) last released its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.12. The business had revenue of $6.98 billion during 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%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 EPS. Equities research analysts predict that Southern Company will post 4.58 earnings per share for the current fiscal year.

Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 17th will be issued a dividend of $0.76 per share. The ex-dividend date is Monday, August 17th. This represents a $3.04 annualized dividend and a dividend yield of 3.4%. Southern’s dividend payout ratio is 72.90%.

Analysts Set New Price Targets

SO has been the subject of several recent research reports. Wall Street Zen cut Southern from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Raymond James Financial reiterated an “outperform” rating and set a $104.00 price objective on shares of Southern in a research note on Friday, May 1st. Mizuho set a $106.00 price objective on Southern in a report on Friday, July 31st. BMO Capital Markets raised their target price on shares of Southern from $102.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Finally, Truist Financial lowered their target price on shares of Southern from $100.00 to $97.00 and set a “hold” rating on the stock in a report on Thursday, August 13th. Seven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $100.09.

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.