Grove Bank & Trust Acquires 7,246 Shares of Southern Company (The) $SO

Grove Bank & Trust lifted its holdings in shares of Southern Company (The) (NYSE:SO) by 79.7% in the third quarter, HoldingsChannel.com reports. The firm owned 16,339 shares of the utilities provider’s stock after acquiring an additional 7,246 shares during the quarter. Grove Bank & Trust’s holdings in Southern were worth $1,354,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SO. Evergreen Advisors LLC purchased a new stake in Southern in the 1st quarter valued at about $25,000. Scarborough Advisors LLC acquired a new stake in shares of Southern during the first quarter valued at about $25,000. Bullseye Investment Management LLC purchased a new stake in shares of Southern in the 2nd quarter valued at approximately $26,000. Cornerstone Financial Management LLC purchased a new stake in shares of Southern in the 4th quarter valued at approximately $27,000. Finally, J.Safra Asset Management Corp acquired a new position in shares of Southern in the 2nd quarter worth approximately $30,000. 64.10% of the stock is owned by institutional investors and hedge funds.

Southern Stock Up 0.8%

SO traded up $0.67 during trading hours on Thursday, hitting $86.11. 5,989,320 shares of the company’s stock were exchanged, compared to its average volume of 5,839,042. The firm has a market cap of $99.06 billion, a P/E ratio of 20.65, a price-to-earnings-growth ratio of 2.28 and a beta of 0.31. Southern Company has a 12-month low of $81.69 and a 12-month high of $100.83. The company has a current ratio of 0.79, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62. The firm has a 50 day moving average of $88.45 and a 200 day moving average of $92.47.

Southern (NYSE:SO) last issued its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.01 by $0.12. The company had revenue of $6.98 billion during the quarter, compared to analysts’ expectations of $7.23 billion. Southern had a net margin of 15.43% and a return on equity of 12.93%. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the company posted $0.79 EPS. Analysts predict that Southern Company will post 4.59 EPS for the current fiscal year.

Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 17th were issued a $0.76 dividend. The ex-dividend date was Monday, August 17th. This represents a $3.04 dividend on an annualized basis and a yield of 3.5%. Southern’s dividend payout ratio (DPR) is 72.90%.

Analyst Upgrades and Downgrades

SO has been the subject of a number of research analyst reports. Morgan Stanley lowered their price objective on shares of Southern from $89.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, September 18th. Truist Financial decreased their price target on Southern from $100.00 to $97.00 and set a “hold” rating on the stock in a research note on Thursday, August 13th. Barclays lowered their price target 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern in a research note on Wednesday, July 29th. Finally, Mizuho set a $106.00 price objective on Southern in a report on Friday, July 31st. Seven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $100.08.

Southern Company Profile

Southern Company (NYSE:SO) is a diversified energy holding company headquartered in Atlanta, Georgia. Through its operating subsidiaries, the company generates, transmits, distributes and sells electricity, while also providing natural gas distribution and related energy services.

Southern’s regulated electric utilities include Alabama Power, Georgia Power and Mississippi Power, which serve residential, commercial and industrial customers across the southeastern United States. The company’s portfolio includes coal, natural gas, nuclear, hydroelectric and renewable generation assets.