Keybank National Association OH Purchases 5,670 Shares of Southern Company (The) $SO

Keybank National Association OH grew its position in Southern Company (The) (NYSE:SO) by 4.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 130,227 shares of the utilities provider’s stock after purchasing an additional 5,670 shares during the period. Keybank National Association OH’s holdings in Southern were worth $12,570,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SO. Ankerstar Wealth LLC acquired a new stake in Southern during the 4th quarter worth $25,000. Cornerstone Financial Management LLC acquired a new position in Southern in the fourth quarter valued at about $27,000. J.Safra Asset Management Corp bought a new stake in shares of Southern in the fourth quarter worth about $27,000. Triumph Capital Management acquired a new stake in shares of Southern during the third quarter worth about $29,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Southern during the fourth quarter worth about $31,000. 64.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Truist Financial decreased their price objective on Southern from $103.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, May 29th. TD Cowen lifted their price target on shares of Southern from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Raymond James Financial reiterated an “outperform” rating and issued a $104.00 price target on shares of Southern in a report on Friday, May 1st. Wall Street Zen raised shares of Southern from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Mizuho set a $105.00 price objective on shares of Southern in a report on Friday, May 1st. Seven research analysts have rated the stock with 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.com, Southern presently has a consensus rating of “Hold” and a consensus target price of $99.26.

Southern Stock Down 0.1%

Shares of Southern stock opened at $97.84 on Friday. The business’s 50 day simple moving average is $93.81 and its 200 day simple moving average is $92.75. Southern Company has a 52-week low of $83.80 and a 52-week high of $100.83. The firm has a market cap of $110.30 billion, a PE ratio of 24.90, a P/E/G ratio of 2.96 and a beta of 0.34. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.65.

Southern (NYSE:SO) last released its earnings results on Wednesday, April 29th. The utilities provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.21 by $0.11. The firm 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 business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.23 EPS. On average, analysts predict that Southern Company will post 4.58 earnings per share for the current fiscal year.

Southern Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Monday, May 18th were given a $0.76 dividend. This is a boost from Southern’s previous quarterly dividend of $0.74. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, May 18th. Southern’s payout ratio is presently 77.35%.

Southern Company Profile

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.