Shorepoint Capital Partners LLC Invests $4.73 Million in Southern Company (The) $SO

Shorepoint Capital Partners LLC purchased a new stake in shares of Southern Company (The) (NYSE:SO) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 49,905 shares of the utilities provider’s stock, valued at approximately $4,729,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Southern by 9.7% in the third quarter. GAMMA Investing LLC now owns 27,946 shares of the utilities provider’s stock valued at $2,648,000 after acquiring an additional 2,467 shares during the period. Trust Co of the South lifted its stake in Southern by 11.8% in the third quarter. Trust Co of the South now owns 4,957 shares of the utilities provider’s stock worth $470,000 after purchasing an additional 525 shares during the last quarter. Investors Research Corp grew its stake in shares of Southern by 28.6% during the third quarter. Investors Research Corp now owns 7,230 shares of the utilities provider’s stock valued at $685,000 after buying an additional 1,607 shares during the last quarter. Global Wealth Strategies & Associates purchased a new stake in shares of Southern in the third quarter worth approximately $78,000. Finally, Rowlandmiller & PARTNERS.ADV boosted its holdings in Southern by 1.4% during the 3rd quarter. Rowlandmiller & PARTNERS.ADV now owns 12,734 shares of the utilities provider’s stock valued at $1,207,000 after acquiring an additional 180 shares during the period. 64.10% of the stock is owned by hedge funds and other institutional investors.

Southern Trading Up 2.0%

Shares of NYSE SO opened at $86.11 on Tuesday. The business has a fifty day moving average price of $92.01 and a 200 day moving average price of $92.31. Southern Company has a 1-year low of $80.46 and a 1-year high of $100.83. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.75 and a quick ratio of 0.59. The stock has a market capitalization of $94.82 billion, a P/E ratio of 21.32, a price-to-earnings-growth ratio of 2.72 and a beta of 0.45.

Southern (NYSE:SO) last issued its quarterly earnings data on Wednesday, October 29th. The utilities provider reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.09. Southern had a net margin of 15.42% and a return on equity of 12.52%. The firm had revenue of $7.82 billion for the quarter, compared to the consensus estimate of $8.04 billion. During the same quarter in the previous year, the firm earned $1.39 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. Equities research analysts expect that Southern Company will post 4.29 EPS for the current fiscal year.

Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 8th. Shareholders of record on Monday, November 17th were paid a dividend of $0.74 per share. The ex-dividend date was Monday, November 17th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.4%. Southern’s dividend payout ratio (DPR) is presently 73.27%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Morgan Stanley reiterated an “underperform” rating and set a $97.00 target price on shares of Southern in a research report on Thursday, November 20th. Wall Street Zen downgraded shares of Southern from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Evercore ISI assumed coverage on shares of Southern in a research note on Monday, October 6th. They set an “in-line” rating and a $103.00 price target for the company. Royal Bank Of Canada reduced their price objective on Southern from $107.00 to $99.00 and set a “sector perform” rating on the stock in a report on Friday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Southern in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $96.79.

About Southern

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.