Southern Company (The) $SO Stock Holdings Increased by Hennessy Advisors Inc.

Hennessy Advisors Inc. lifted its position in Southern Company (The) (NYSE:SO) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 271,100 shares of the utilities provider’s stock after purchasing an additional 7,200 shares during the period. Hennessy Advisors Inc.’s holdings in Southern were worth $22,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Southern during the 3rd quarter valued at about $26,152,000. ProShare Advisors LLC increased its holdings in Southern by 1.4% during the 3rd quarter. ProShare Advisors LLC now owns 181,376 shares of the utilities provider’s stock worth $15,034,000 after purchasing an additional 2,474 shares during the period. Cidel Asset Management Inc. raised its holdings in shares of Southern by 7.2% in the third quarter. Cidel Asset Management Inc. now owns 9,282 shares of the utilities provider’s stock valued at $769,000 after acquiring an additional 623 shares in the last quarter. Summit Global Investments raised its holdings in shares of Southern by 65.6% in the 3rd quarter. Summit Global Investments now owns 6,863 shares of the utilities provider’s stock valued at $569,000 after purchasing an additional 2,719 shares in the last quarter. Finally, MGO One Seven LLC boosted its stake in shares of Southern by 3.9% during the third quarter. MGO One Seven LLC now owns 61,478 shares of the utilities provider’s stock valued at $5,096,000 after purchasing an additional 2,283 shares in the last quarter. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Southern Price Performance

Shares of Southern stock opened at $93.70 on Monday. The business has a 50 day simple moving average of $87.78 and a two-hundred day simple moving average of $92.35. Southern Company has a 12 month low of $81.69 and a 12 month high of $99.58. The stock has a market capitalization of $107.79 billion, a P/E ratio of 22.47, a PEG ratio of 2.46 and a beta of 0.30. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.79 and a quick ratio of 0.59.

Southern (NYSE:SO) last released its earnings results 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. Southern had a net margin of 15.43% and a return on equity of 12.93%. The business had revenue of $6.98 billion during the quarter, compared to analyst estimates of $7.23 billion. During the same quarter in the prior year, the firm earned $0.79 earnings per share. The company’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, analysts predict that Southern Company will post 4.59 EPS for the current fiscal year.

Southern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 7th. Stockholders of record on Monday, November 16th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $3.04 annualized dividend and a dividend yield of 3.2%. Southern’s dividend payout ratio is 72.90%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Truist Financial reduced their target price on shares of Southern from $97.00 to $93.00 and set a “hold” rating for the company in a report on Thursday, October 15th. Weiss Ratings restated a “buy (b)” rating on shares of Southern in a research note on Tuesday, October 27th. DA Davidson set a $98.00 price target on Southern in a research report on Wednesday, October 21st. HSBC started coverage on Southern in a report on Thursday, October 22nd. They set a “buy” rating and a $99.50 price objective for the company. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Southern in a research report on Wednesday, October 21st. Eight investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $98.24.

Southern Company Profile

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

Southern’s electric utility operations include Alabama Power, Georgia Power and Mississippi Power, which serve customers across Alabama, Georgia and Mississippi. The company’s generation portfolio includes nuclear, natural gas, coal, hydroelectric and renewable energy resources.