Rithm Capital Corp. Purchases 6,500 Shares of Southern Company (The) $SO

Rithm Capital Corp. raised its position in Southern Company (The) (NYSE:SO) by 130.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,500 shares of the utilities provider’s stock after buying an additional 6,500 shares during the period. Southern accounts for about 1.6% of Rithm Capital Corp.’s investment portfolio, making the stock its 23rd biggest position. Rithm Capital Corp.’s holdings in Southern were worth $1,110,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Evergreen Advisors LLC acquired a new position in shares of Southern in the 1st quarter worth approximately $25,000. Scarborough Advisors LLC acquired a new stake in Southern during the 1st quarter valued at $25,000. Ankerstar Wealth LLC acquired a new stake in Southern during the 4th quarter valued at $25,000. Cornerstone Financial Management LLC bought a new position in Southern in the 4th quarter valued at $27,000. Finally, J.Safra Asset Management Corp bought a new position in Southern in the 4th quarter valued at $27,000. 64.10% of the stock is owned by institutional investors.

Southern Trading Down 0.8%

SO stock opened at $96.45 on Tuesday. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 1.68. Southern Company has a twelve month low of $83.80 and a twelve month high of $100.83. The company has a market cap of $108.73 billion, a P/E ratio of 24.54, a PEG ratio of 1.90 and a beta of 0.34. The business has a fifty day moving average of $94.49 and a 200-day moving average of $93.80.

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

Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 17th will be given a dividend of $0.76 per share. The ex-dividend date is Monday, August 17th. This represents a $3.04 dividend on an annualized basis and a yield of 3.2%. Southern’s dividend payout ratio is presently 77.35%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SO. JPMorgan Chase & Co. increased their target price on Southern from $101.00 to $104.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. BMO Capital Markets raised their target price on Southern from $102.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday. Citigroup reiterated a “buy” rating on shares of Southern in a research report on Friday, April 10th. Barclays decreased their price objective on shares of Southern from $99.00 to $98.00 and set an “equal weight” rating on the stock in a report on Thursday, June 18th. Finally, Jefferies Financial Group set a $99.00 price objective on shares of Southern in a research report on Monday, June 22nd. Seven equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $100.21.

About Southern

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.