Slagle Financial LLC Boosts Holdings in Southern Company (The) $SO

Slagle Financial LLC increased its position in Southern Company (The) (NYSE:SO) by 545.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,042 shares of the utilities provider’s stock after purchasing an additional 27,077 shares during the period. Southern makes up approximately 1.2% of Slagle Financial LLC’s holdings, making the stock its 29th biggest position. Slagle Financial LLC’s holdings in Southern were worth $2,942,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Kestra Private Wealth Services LLC boosted its stake in Southern by 10.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 69,476 shares of the utilities provider’s stock valued at $6,388,000 after purchasing an additional 6,724 shares during the last quarter. OneAscent Family Office LLC lifted its holdings in shares of Southern by 108.7% during the first 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 in the last quarter. Mowery & Schoenfeld Wealth Management LLC boosted its position in shares of Southern by 444.0% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 914 shares of the utilities provider’s stock valued at $84,000 after buying an additional 746 shares during the last quarter. OneAscent Financial Services LLC raised its position in Southern by 176.1% in the 1st quarter. OneAscent Financial Services LLC now owns 22,062 shares of the utilities provider’s stock worth $2,028,000 after buying an additional 14,072 shares during the last quarter. Finally, Atlantic Union Bankshares Corp raised its position in Southern by 1.8% in the 1st quarter. Atlantic Union Bankshares Corp now owns 8,384 shares of the utilities provider’s stock worth $771,000 after buying an additional 150 shares during the last quarter. 64.10% of the stock is owned by hedge funds and other institutional investors.

Southern Stock Down 0.6%

SO opened at $90.65 on Monday. The firm’s 50 day simple moving average is $94.11 and its two-hundred day simple moving average is $92.51. The company has a market capitalization of $99.81 billion, a PE ratio of 23.30, a PEG ratio of 3.31 and a beta of 0.45. Southern Company has a 1-year low of $80.46 and a 1-year high of $100.83. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.69.

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

Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 8th. Investors of record on Monday, November 17th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, November 17th. Southern’s dividend payout ratio is currently 73.27%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group downgraded shares of Southern from a “buy” rating to a “neutral” rating and set a $98.00 price target on the stock. in a report on Thursday, November 6th. Mizuho increased their price objective on shares of Southern from $93.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Royal Bank Of Canada upgraded shares of Southern to a “hold” rating in a report on Tuesday, October 28th. BMO Capital Markets lifted their target price on shares of Southern from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. Finally, Barclays set a $70.00 target price on shares of Southern in a research note on Tuesday, October 14th. One 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’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus 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.