Southern Company (The) $SO Shares Bought by Glenview Trust co

Glenview Trust co grew its holdings in Southern Company (The) (NYSE:SO) by 712.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,283 shares of the utilities provider’s stock after purchasing an additional 101,085 shares during the quarter. Glenview Trust co’s holdings in Southern were worth $10,586,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SO. Avidian Wealth Enterprises LLC boosted its stake in Southern by 2.3% during the second quarter. Avidian Wealth Enterprises LLC now owns 4,697 shares of the utilities provider’s stock worth $431,000 after buying an additional 106 shares during the last quarter. Delta Investment Management LLC increased its stake in shares of Southern by 4.6% in the 2nd quarter. Delta Investment Management LLC now owns 2,579 shares of the utilities provider’s stock worth $237,000 after acquiring an additional 113 shares during the last quarter. Marco Investment Management LLC raised its holdings in shares of Southern by 1.1% during the 2nd quarter. Marco Investment Management LLC now owns 10,234 shares of the utilities provider’s stock worth $940,000 after acquiring an additional 113 shares during the period. KPP Advisory Services LLC boosted its position in shares of Southern by 1.0% during the 2nd quarter. KPP Advisory Services LLC now owns 11,392 shares of the utilities provider’s stock valued at $1,046,000 after acquiring an additional 117 shares during the last quarter. Finally, May Hill Capital LLC grew its holdings in shares of Southern by 3.8% in the second quarter. May Hill Capital LLC now owns 3,255 shares of the utilities provider’s stock valued at $299,000 after purchasing an additional 118 shares during the period. 64.10% of the stock is currently owned by hedge funds and other institutional investors.

Southern Stock Performance

NYSE:SO opened at $83.93 on Thursday. Southern Company has a fifty-two week low of $80.46 and a fifty-two week high of $100.83. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.59 and a current ratio of 0.75. The company has a 50 day moving average price of $92.58 and a 200 day moving average price of $92.37. The stock has a market capitalization of $92.41 billion, a P/E ratio of 20.77, a PEG ratio of 2.76 and a beta of 0.45.

Southern (NYSE:SO) last released its quarterly earnings results on Wednesday, October 29th. The utilities provider reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.09. Southern had a return on equity of 12.52% and a net margin of 15.42%.The company had revenue of $7.82 billion for the quarter, compared to analysts’ expectations of $8.04 billion. During the same period in the prior year, the firm earned $1.39 earnings per share. The firm’s revenue was up 7.5% compared to the same quarter last year. Equities research analysts forecast that Southern Company will post 4.29 EPS for the current year.

Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 8th. Investors of record on Monday, November 17th were issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Monday, November 17th. Southern’s dividend payout ratio (DPR) is 73.27%.

Analyst Ratings Changes

SO has been the subject of several recent analyst reports. The Goldman Sachs Group cut shares of Southern from a “buy” rating to a “neutral” rating and set a $98.00 price objective for the company. in a research report on Thursday, November 6th. KeyCorp raised their price target on shares of Southern from $78.00 to $87.00 and gave the stock an “underweight” rating in a report on Wednesday, October 15th. Royal Bank Of Canada upgraded Southern to a “hold” rating in a report on Tuesday, October 28th. JPMorgan Chase & Co. increased their price objective on Southern from $97.00 to $98.00 and gave the stock a “neutral” rating in a research report on Thursday, August 21st. Finally, BTIG Research started coverage on Southern in a research report on Tuesday, October 21st. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $99.03.

About Southern

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.