Greg Jennings LLC Purchases 5,877 Shares of Southern Company (The) $SO

Greg Jennings LLC purchased a new stake in shares of Southern Company (The) (NYSE:SO) in the 3rd quarter, HoldingsChannel reports. The firm purchased 5,877 shares of the utilities provider’s stock, valued at approximately $487,000.

Several other institutional investors have also added to or reduced their stakes in the business. Richards Merrill & Peterson Inc. grew its stake in shares of Southern by 2.4% during the third quarter. Richards Merrill & Peterson Inc. now owns 10,652 shares of the utilities provider’s stock valued at $883,000 after buying an additional 250 shares during the last quarter. Kondo Wealth Advisors Inc. purchased a new position in shares of Southern in the third quarter worth about $782,000. First Bank & Trust increased its holdings in shares of Southern by 1.0% in the third quarter. First Bank & Trust now owns 37,856 shares of the utilities provider’s stock worth $3,138,000 after buying an additional 392 shares during the period. Optivise Advisory Services LLC lifted its stake in shares of Southern by 3.8% in the 3rd quarter. Optivise Advisory Services LLC now owns 3,055 shares of the utilities provider’s stock valued at $253,000 after acquiring an additional 111 shares during the last quarter. Finally, Banque Pictet & Cie SA bought a new stake in shares of Southern in the 3rd quarter valued at about $2,668,000. 64.10% of the stock is currently owned by hedge funds and other institutional investors.

Southern Stock Down 2.1%

Southern stock traded down $1.88 during trading hours on Monday, hitting $89.30. 5,207,214 shares of the stock traded hands, compared to its average volume of 5,846,544. Southern Company has a one year low of $81.69 and a one year high of $99.58. The firm’s 50-day moving average price is $87.71 and its two-hundred day moving average price is $92.14. The company has a current ratio of 0.79, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62. The company has a market cap of $102.73 billion, a PE ratio of 21.42, a PEG ratio of 2.40 and a beta of 0.31.

Southern (NYSE:SO) last announced its earnings results on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.12. The firm had revenue of $6.98 billion during the quarter, compared to analyst estimates of $7.23 billion. Southern had a return on equity of 12.93% and a net margin of 15.43%. The business’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.79 EPS. On average, research analysts forecast that Southern Company will post 4.59 EPS for the current year.

Analyst Ratings Changes

SO has been the subject of several analyst reports. Citigroup dropped their target price on Southern from $114.00 to $104.00 and set a “buy” rating for the company in a report on Friday, September 25th. Morgan Stanley decreased their price target on Southern from $89.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, September 18th. BMO Capital Markets lifted their price target on Southern from $102.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. KeyCorp lowered their price objective on Southern from $79.00 to $74.00 and set an “underweight” rating for the company in a research report on Tuesday, October 13th. Finally, Truist Financial dropped their price objective on Southern from $97.00 to $93.00 and set a “hold” rating for the company in a research note on Thursday. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $98.47.

Southern Company Profile

Southern Company (NYSE: SO) is an energy holding company headquartered in Atlanta, Georgia. Through its subsidiaries, the company generates, transmits, distributes and sells electricity, while also providing natural gas distribution and related energy services.

Southern’s electric utility operations include Alabama Power, Georgia Power and Mississippi Power, which serve customers across Alabama, Georgia and Mississippi. The company’s generation portfolio includes nuclear, natural gas, coal, hydroelectric and renewable energy resources.