Southern Company (The) $SO Holdings Raised by Glenmede Trust Co. NA

Glenmede Trust Co. NA lifted its stake in Southern Company (The) (NYSE:SO) by 19.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 92,289 shares of the utilities provider’s stock after purchasing an additional 14,798 shares during the quarter. Glenmede Trust Co. NA’s holdings in Southern were worth $8,908,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SO. CTC Alternative Strategies Ltd. acquired a new position in shares of Southern in the first quarter worth about $444,000. Western Wealth Management LLC raised its holdings in shares of Southern by 52.0% during the first quarter. Western Wealth Management LLC now owns 23,582 shares of the utilities provider’s stock valued at $2,276,000 after acquiring an additional 8,069 shares during the period. Mascagni Wealth Management Inc. purchased a new stake in shares of Southern in the 1st quarter valued at approximately $211,000. Orographic Financial Advisors LLC purchased a new stake in shares of Southern in the 1st quarter valued at approximately $842,000. Finally, Paragon Private Wealth Management LLC boosted its stake in Southern by 14.9% in the 1st quarter. Paragon Private Wealth Management LLC now owns 6,583 shares of the utilities provider’s stock worth $635,000 after purchasing an additional 853 shares during the period. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Mizuho set a $106.00 price objective on shares of Southern in a research report on Friday. Seaport Research Partners lowered Southern from a “buy” rating to a “neutral” rating in a report on Monday, April 20th. Barclays decreased their target price on Southern from $99.00 to $98.00 and set an “equal weight” rating for the company in a research report on Thursday, June 18th. KeyCorp downgraded Southern from a “sector weight” rating to an “underweight” rating and set a $79.00 price target on the stock. in a report on Thursday, July 23rd. Finally, Truist Financial dropped their price target on Southern from $103.00 to $100.00 and set a “hold” rating on the stock in a research report on Friday, May 29th. Seven equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $100.26.

Southern Stock Performance

Shares of SO opened at $93.02 on Tuesday. The company’s 50 day moving average price is $94.56 and its 200 day moving average price is $94.09. Southern Company has a 52 week low of $83.80 and a 52 week high of $100.83. The company has a market capitalization of $104.86 billion, a PE ratio of 22.31, a PEG ratio of 1.82 and a beta of 0.34. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.59 and a current ratio of 0.79.

Southern (NYSE:SO) last released its quarterly earnings data on Thursday, July 30th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.12. Southern had a net margin of 15.43% and a return on equity of 12.93%. The firm had revenue of $6.98 billion for the quarter, compared to analyst estimates of $7.23 billion. During the same quarter in the prior year, the business earned $0.79 EPS. The company’s revenue for the quarter was up .1% compared to the same quarter last year. Research analysts expect that Southern Company will post 4.58 EPS 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 paid a $0.76 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.3%. Southern’s dividend payout ratio is 72.90%.

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.