MGO One Seven LLC Has $4.58 Million Position in Southern Company (The) $SO

MGO One Seven LLC increased its position in Southern Company (The) (NYSE:SO) by 36.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 52,496 shares of the utilities provider’s stock after acquiring an additional 13,992 shares during the quarter. MGO One Seven LLC’s holdings in Southern were worth $4,578,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SO. Cloud Capital Management LLC acquired a new position in shares of Southern in the third quarter valued at approximately $25,000. Grey Fox Wealth Advisors LLC acquired a new position in shares of Southern in the third quarter valued at approximately $29,000. Triumph Capital Management acquired a new position in shares of Southern in the third quarter valued at approximately $29,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Southern in the fourth quarter worth $31,000. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in shares of Southern in the third quarter worth $34,000. Institutional investors and hedge funds own 64.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SO. Royal Bank Of Canada reissued a “sector perform” rating and issued a $105.00 price objective on shares of Southern in a research note on Friday, January 23rd. Raymond James Financial reissued an “outperform” rating and issued a $104.00 price objective on shares of Southern in a research note on Friday, May 1st. Citigroup reissued a “buy” rating on shares of Southern in a research note on Friday, April 10th. Truist Financial began coverage on shares of Southern in a research report on Tuesday, April 21st. They set a “hold” rating and a $103.00 target price for the company. Finally, Evercore raised shares of Southern from an “in-line” rating to an “outperform” rating and set a $111.00 target price for the company in a research report on Thursday, March 5th. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Southern presently has a consensus rating of “Hold” and an average target price of $99.85.

Insider Activity at Southern

In other news, EVP Christopher Cummiskey sold 6,669 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $96.55, for a total transaction of $643,891.95. Following the completion of the sale, the executive vice president owned 30,800 shares of the company’s stock, valued at $2,973,740. This trade represents a 17.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kimberly S. Greene sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $96.67, for a total transaction of $2,416,750.00. Following the sale, the chief executive officer directly owned 103,602 shares of the company’s stock, valued at approximately $10,015,205.34. This trade represents a 19.44% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.16% of the company’s stock.

Southern Trading Down 0.7%

NYSE:SO opened at $91.80 on Friday. The firm has a market cap of $103.49 billion, a P/E ratio of 23.36, a P/E/G ratio of 2.78 and a beta of 0.36. Southern Company has a 52 week low of $83.09 and a 52 week high of $100.83. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.65. The firm’s fifty day moving average is $95.82 and its 200-day moving average is $91.93.

Southern (NYSE:SO) last announced its quarterly earnings data on Thursday, April 30th. The utilities provider reported $1.32 EPS for the quarter, topping the consensus estimate of $1.21 by $0.11. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.07 billion. Southern had a net margin of 14.46% and a return on equity of 12.64%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.23 EPS. Equities analysts expect that Southern Company will post 4.57 earnings per share for the current year.

Southern Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 8th. Stockholders of record on Monday, May 18th will be given a dividend of $0.76 per share. This is a positive change from Southern’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Monday, May 18th. This represents a $3.04 annualized dividend and a dividend yield of 3.3%. Southern’s payout ratio is 75.32%.

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.