Duff & Phelps Investment Management Co. Has $123.60 Million Position in Southern Company (The) $SO

Duff & Phelps Investment Management Co. boosted its position in Southern Company (The) (NYSE:SO) by 3.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,345,974 shares of the utilities provider’s stock after buying an additional 45,088 shares during the period. Southern comprises about 1.5% of Duff & Phelps Investment Management Co.’s portfolio, making the stock its 21st biggest holding. Duff & Phelps Investment Management Co.’s holdings in Southern were worth $123,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SO. Kestra Private Wealth Services LLC increased its position in Southern by 10.7% during the first quarter. Kestra Private Wealth Services LLC now owns 69,476 shares of the utilities provider’s stock worth $6,388,000 after acquiring an additional 6,724 shares during the period. OneAscent Family Office LLC boosted its holdings in Southern by 108.7% in the 1st quarter. OneAscent Family Office LLC now owns 9,120 shares of the utilities provider’s stock valued at $838,000 after purchasing an additional 4,750 shares during the period. Mowery & Schoenfeld Wealth Management LLC grew its position in shares of Southern by 444.0% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 914 shares of the utilities provider’s stock worth $84,000 after purchasing an additional 746 shares in the last quarter. OneAscent Financial Services LLC increased its holdings in shares of Southern by 176.1% during the first quarter. OneAscent Financial Services LLC now owns 22,062 shares of the utilities provider’s stock worth $2,028,000 after purchasing an additional 14,072 shares during the period. Finally, Atlantic Union Bankshares Corp increased its holdings in shares of Southern by 1.8% during the first quarter. Atlantic Union Bankshares Corp now owns 8,384 shares of the utilities provider’s stock worth $771,000 after purchasing an additional 150 shares during the period. 64.10% of the stock is owned by institutional investors and hedge funds.

Southern Stock Down 0.6%

Southern stock opened at $90.65 on Monday. The firm has a market cap of $99.81 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 3.31 and a beta of 0.45. Southern Company has a 52-week low of $80.46 and a 52-week high of $100.83. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.54 and a current ratio of 0.74. The firm has a 50 day moving average price of $94.11 and a two-hundred day moving average price of $92.51.

Southern (NYSE:SO) last posted its quarterly earnings data on Wednesday, October 29th. The utilities provider reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.09. Southern had a net margin of 15.10% and a return on equity of 12.09%. The company had revenue of $7.82 billion during the quarter, compared to analysts’ expectations of $8.04 billion. During the same period in the prior year, the company posted $1.39 earnings per share. Southern’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities analysts predict that Southern Company will post 4.29 EPS for the current year.

Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, November 17th will be given a $0.74 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $2.96 annualized dividend and a dividend yield of 3.3%. Southern’s dividend payout ratio (DPR) is 73.27%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SO shares. UBS Group increased their price target on Southern from $100.00 to $104.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. KeyCorp boosted their target price on shares of Southern from $78.00 to $87.00 and gave the company an “underweight” rating in a research report on Wednesday, October 15th. Wells Fargo & Company initiated coverage on shares of Southern in a research report on Monday, October 27th. They set an “equal weight” rating and a $97.00 price target on the stock. Barclays set a $70.00 price objective on shares of Southern in a research note on Tuesday, October 14th. Finally, Wall Street Zen upgraded Southern from a “sell” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Southern currently has an average rating of “Hold” and an average target price of $99.56.

Southern Company Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.