Patrick Mauro Investment Advisor INC. Invests $2.08 Million in Southern Company (The) $SO

Patrick Mauro Investment Advisor INC. purchased a new position in Southern Company (The) (NYSE:SO) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 21,706 shares of the utilities provider’s stock, valued at approximately $2,077,000.

Several other institutional investors also recently bought and sold shares of the company. Sound Financial Strategies Group LLC purchased a new position in Southern in the second quarter worth about $260,000. Great Lakes Advisors LLC purchased a new stake in shares of Southern during the second quarter valued at approximately $3,077,000. Compass Wealth Management LLC bought a new stake in shares of Southern during the second quarter valued at approximately $301,000. BOK Financial Private Wealth Inc. bought a new stake in shares of Southern during the second quarter valued at approximately $41,000. Finally, Diversify Advisory Services LLC purchased a new position in Southern in the 2nd quarter worth approximately $1,372,000. 64.10% of the stock is owned by hedge funds and other institutional investors.

Southern Trading Up 0.2%

NYSE:SO opened at $92.22 on Thursday. The company has a market cap of $106.09 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 1.77 and a beta of 0.34. 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 50 day simple moving average of $94.66 and a two-hundred day simple moving average of $94.42. Southern Company has a 12 month low of $83.80 and a 12 month high of $100.83.

Southern (NYSE:SO) last released its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 12.93% and a net margin of 15.43%.The company’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 EPS. Research analysts forecast that Southern Company will post 4.58 earnings per share for the current year.

Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 17th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.04 annualized dividend and a dividend yield of 3.3%. Southern’s dividend payout ratio is presently 72.90%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SO. Morgan Stanley reiterated an “underweight” rating on shares of Southern in a research note on Wednesday, July 22nd. Mizuho set a $106.00 price target on Southern in a research note on Friday, July 31st. Jefferies Financial Group set a $99.00 price target on Southern in a report on Monday, June 22nd. KeyCorp cut Southern from a “sector weight” rating to an “underweight” rating and set a $79.00 price objective on the stock. in a research report on Thursday, July 23rd. Finally, BMO Capital Markets lifted their price objective on Southern from $102.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. 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. Based on data from MarketBeat.com, Southern presently has an average rating of “Hold” and a consensus 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.