Southern Company (The) (NYSE:SO) to Issue Quarterly Dividend of $0.76

Southern Company (The) (NYSE:SO) declared a quarterly dividend on Monday, July 20th. Shareholders of record on Monday, August 17th will be given a dividend of 0.76 per share by the utilities provider on Tuesday, September 8th. This represents a c) dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, August 17th.

Southern has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 25 consecutive years. Southern has a payout ratio of 66.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Southern to earn $4.92 per share next year, which means the company should continue to be able to cover its $3.04 annual dividend with an expected future payout ratio of 61.8%.

Southern Price Performance

Shares of NYSE:SO opened at $94.53 on Tuesday. The company has a 50-day simple moving average of $94.22 and a 200-day simple moving average of $93.49. Southern has a one year low of $83.80 and a one year high of $100.83. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.65. The stock has a market capitalization of $106.57 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 2.88 and a beta of 0.34.

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

Analysts Set New Price Targets

A number of analysts have weighed in on SO shares. Jefferies Financial Group set a $99.00 price objective on Southern in a research report on Monday, June 22nd. Weiss Ratings raised Southern from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Raymond James Financial restated an “outperform” rating and set a $104.00 price target on shares of Southern in a research note on Friday, May 1st. Truist Financial decreased their price target on Southern from $103.00 to $100.00 and set a “hold” rating for the company in a report on Friday, May 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Southern from $101.00 to $104.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $99.91.

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.