OMC Financial Services LTD Invests $562,000 in Southern Company (The) $SO

OMC Financial Services LTD acquired a new position in shares of Southern Company (The) (NYSE:SO) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,877 shares of the utilities provider’s stock, valued at approximately $562,000.

A number of other large investors also recently made changes to their positions in SO. Evergreen Advisors LLC purchased a new stake in shares of Southern in the first quarter worth approximately $25,000. Scarborough Advisors LLC purchased a new position in Southern during the first quarter valued at approximately $25,000. Ankerstar Wealth LLC acquired a new position in Southern in the 4th quarter valued at approximately $25,000. Cornerstone Financial Management LLC acquired a new position in Southern in the 4th quarter valued at approximately $27,000. Finally, J.Safra Asset Management Corp purchased a new stake in Southern in the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 64.10% of the company’s stock.

Analyst Ratings Changes

SO has been the subject of a number of research reports. Barclays decreased their target price on shares of Southern from $99.00 to $98.00 and set an “equal weight” rating for the company in a research note on Thursday, June 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern in a research note on Wednesday, July 29th. Raymond James Financial reiterated an “outperform” rating and set a $104.00 price objective on shares of Southern in a report on Friday, May 1st. Wall Street Zen downgraded Southern from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, Truist Financial dropped their target price on Southern from $100.00 to $97.00 and set a “hold” rating on the stock in a research report on Thursday. Seven analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $100.09.

Southern Stock Performance

SO stock opened at $92.83 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $106.79 billion, a price-to-earnings ratio of 22.26, a P/E/G ratio of 1.78 and a beta of 0.34. Southern Company has a 12 month low of $83.80 and a 12 month high of $100.83. The firm has a 50 day moving average of $94.69 and a two-hundred day moving average of $94.35.

Southern (NYSE:SO) last announced its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.01 by $0.12. The company had revenue of $6.98 billion for the quarter, compared to analyst estimates of $7.23 billion. Southern had a net margin of 15.43% and a return on equity of 12.93%. Southern’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.79 EPS. As a group, equities analysts anticipate that Southern Company will post 4.58 EPS for the current fiscal year.

Southern Dividend Announcement

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

About Southern

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.