Brooks Moore & Associates Inc. Makes New $2.36 Million Investment in Southern Company (The) $SO

Brooks Moore & Associates Inc. purchased a new stake in Southern Company (The) (NYSE:SO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 24,673 shares of the utilities provider’s stock, valued at approximately $2,361,000. Southern makes up about 1.1% of Brooks Moore & Associates Inc.’s portfolio, making the stock its 28th largest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Evergreen Advisors LLC bought a new position in shares of Southern in the first quarter worth approximately $25,000. Scarborough Advisors LLC bought a new stake in Southern during the first quarter valued at approximately $25,000. Ankerstar Wealth LLC bought a new stake in Southern during the fourth quarter valued at approximately $25,000. Triumph Capital Management purchased a new position in Southern in the 3rd quarter worth approximately $29,000. Finally, Cornerstone Financial Management LLC purchased a new position in Southern in the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Southern Price Performance

Shares of Southern stock opened at $88.94 on Friday. 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 $102.32 billion, a price-to-earnings ratio of 21.33, a price-to-earnings-growth ratio of 1.72 and a beta of 0.34. The company has a fifty day moving average of $94.22 and a 200-day moving average of $94.42. 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 (NYSE:SO) last issued its earnings results on Wednesday, July 29th. The utilities provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.12. The company 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 firm’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 EPS. Equities research analysts expect that Southern Company will post 4.59 EPS for the current year.

Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 17th will be paid a dividend of $0.76 per share. 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 dividend payout ratio (DPR) is 72.90%.

Wall Street Analyst Weigh In

SO has been the topic of several research reports. Morgan Stanley lowered their price objective on shares of Southern from $92.00 to $89.00 and set an “underweight” rating on the stock in a research report on Friday, August 21st. BMO Capital Markets upped their target price on shares of Southern from $102.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Wall Street Zen cut Southern from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Raymond James Financial reissued an “outperform” rating and issued a $104.00 target price on shares of Southern in a research note on Friday, May 1st. Finally, Barclays dropped their price target on Southern from $99.00 to $98.00 and set an “equal weight” rating for the company in a research note on Thursday, June 18th. Seven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $100.09.

Southern 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.