89,127 Shares in Southern Company (The) $SO Bought by Osmosis Investment Management UK Ltd

Osmosis Investment Management UK Ltd acquired a new stake in Southern Company (The) (NYSE:SO) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 89,127 shares of the utilities provider’s stock, valued at approximately $8,530,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SO. Sanctuary Advisors LLC bought a new stake in Southern in the second quarter valued at approximately $38,440,000. Capital Square LLC bought a new stake in Southern in the 2nd quarter valued at about $2,600,000. Meiji Yasuda Asset Management Co Ltd. bought a new stake in Southern in the 2nd quarter valued at about $1,305,000. Magellan Asset Management Ltd acquired a new position in shares of Southern during the 2nd quarter worth approximately $56,686,000. Finally, True Freedom Investing LLC bought a new position in shares of Southern during the second quarter worth approximately $5,640,000. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Price Performance

Southern stock opened at $89.09 on Monday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.59 and a current ratio of 0.79. Southern Company has a 52 week low of $83.80 and a 52 week high of $100.83. The stock has a market capitalization of $102.49 billion, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 1.71 and a beta of 0.34. The stock has a fifty day moving average of $94.52 and a 200-day moving average of $94.44.

Southern (NYSE:SO) last posted its earnings results on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.12. The firm had revenue of $6.98 billion for the quarter, compared to analysts’ expectations of $7.23 billion. Southern had a net margin of 15.43% and a return on equity of 12.93%. The company’s revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 earnings per share. On average, sell-side analysts expect that Southern Company will post 4.58 earnings per share for the current fiscal year.

Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, August 17th. Southern’s payout ratio is currently 72.90%.

Wall Street Analysts Forecast Growth

SO has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Southern from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Barclays reduced their price target on Southern from $99.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern in a research report on Wednesday, July 29th. Morgan Stanley decreased their price target on Southern from $92.00 to $89.00 and set an “underweight” rating on the stock in a research report on Friday. Finally, Truist Financial cut their price objective on shares of Southern from $100.00 to $97.00 and set a “hold” rating for the company in a research report on Thursday, August 13th. Seven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $100.09.

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.