Heritage Investors Management Corp Buys New Position in Southern Company (The) $SO

Heritage Investors Management Corp purchased a new stake in Southern Company (The) (NYSE:SO) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 5,156 shares of the utilities provider’s stock, valued at approximately $498,000.

Several other institutional investors have also added to or reduced their stakes in the business. Spirepoint Private Client LLC raised its position in Southern by 13.3% during the 4th quarter. Spirepoint Private Client LLC now owns 97,631 shares of the utilities provider’s stock worth $8,513,000 after buying an additional 11,460 shares during the last quarter. Marble Wealth LLC acquired a new stake in Southern during the 4th quarter valued at approximately $4,443,000. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its holdings in shares of Southern by 243.3% in the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 20,816 shares of the utilities provider’s stock valued at $1,815,000 after acquiring an additional 14,753 shares during the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of Southern in the 4th quarter valued at $2,462,000. Finally, Bell Bank increased its stake in shares of Southern by 20.5% in the fourth quarter. Bell Bank now owns 127,901 shares of the utilities provider’s stock worth $11,153,000 after acquiring an additional 21,751 shares during the period. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Stock Performance

Shares of SO stock opened at $97.84 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 1.68. Southern Company has a 12-month low of $83.80 and a 12-month high of $100.83. The business’s 50 day moving average is $93.81 and its two-hundred day moving average is $92.75. The company has a market capitalization of $110.30 billion, a P/E ratio of 24.90, a P/E/G ratio of 2.96 and a beta of 0.34.

Southern (NYSE:SO) last posted its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.11. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.07 billion. Southern had a return on equity of 12.64% and a net margin of 14.46%.The business’s revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 earnings per share. 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. Investors of record on Monday, May 18th were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Monday, May 18th. This is a boost from Southern’s previous quarterly dividend of $0.74. Southern’s payout ratio is presently 77.35%.

Wall Street Analyst Weigh In

SO has been the subject of several recent research reports. TD Cowen raised their target price on shares of Southern from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Seaport Research Partners lowered shares of Southern from a “buy” rating to a “neutral” rating in a report on Monday, April 20th. Raymond James Financial reaffirmed an “outperform” rating and set a $104.00 price target on shares of Southern in a research report on Friday, May 1st. Morgan Stanley reiterated an “underweight” rating and set a $89.00 price objective on shares of Southern in a research note on Wednesday, June 24th. Finally, Weiss Ratings raised Southern from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Seven research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $99.26.

Southern 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.