Dynamic Advisor Solutions LLC Cuts Stock Holdings in Southern Company (The) $SO

Dynamic Advisor Solutions LLC trimmed its stake in Southern Company (The) (NYSE:SO) by 6.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,321 shares of the utilities provider’s stock after selling 6,567 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Southern were worth $8,549,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Spirepoint Private Client LLC boosted its stake in shares of Southern by 13.3% during the fourth quarter. Spirepoint Private Client LLC now owns 97,631 shares of the utilities provider’s stock valued at $8,513,000 after purchasing an additional 11,460 shares during the period. Marble Wealth LLC purchased a new position in shares of Southern in the fourth quarter worth $4,443,000. Wolverine Asset Management LLC purchased a new position in shares of Southern in the fourth quarter worth $2,462,000. D.A. Davidson & CO. raised its holdings in Southern by 20.5% during the 4th quarter. D.A. Davidson & CO. now owns 99,386 shares of the utilities provider’s stock valued at $8,667,000 after buying an additional 16,878 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Southern by 19.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 201,137 shares of the utilities provider’s stock valued at $17,539,000 after buying an additional 32,933 shares during the period. 64.10% of the stock is currently owned by institutional investors.

Southern Trading Down 0.1%

NYSE SO opened at $93.15 on Thursday. The firm has a market capitalization of $107.15 billion, a PE ratio of 22.34, a P/E/G ratio of 1.79 and a beta of 0.34. The stock’s 50 day moving average is $94.54 and its 200 day moving average is $94.15. Southern Company has a twelve month low of $83.80 and a twelve month high of $100.83. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 1.62.

Southern (NYSE:SO) last posted 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 the consensus estimate of $7.23 billion. Southern had a return on equity of 12.93% and a net margin of 15.43%.The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.79 earnings per share. Research analysts forecast that Southern Company will post 4.58 earnings per share for the current fiscal year.

Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, August 17th. Southern’s dividend payout ratio (DPR) is presently 72.90%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Truist Financial decreased their price objective on shares of Southern from $103.00 to $100.00 and set a “hold” rating on the stock in a research report on Friday, May 29th. Morgan Stanley reaffirmed an “underweight” rating on shares of Southern in a research report on Wednesday, July 22nd. Wall Street Zen cut Southern from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Citigroup restated a “buy” rating on shares of Southern in a report on Friday, April 10th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $104.00 price target on shares of Southern in a report on Friday, May 1st. Seven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $100.26.

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.