Gables Capital Management Inc. Acquires Shares of 8,192 Southern Company (The) $SO

Gables Capital Management Inc. acquired a new stake in Southern Company (The) (NYSE:SO) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,192 shares of the utilities provider’s stock, valued at approximately $784,000.

Several other large investors have also made changes to their positions in SO. Evergreen Advisors LLC acquired a new stake in Southern in the 1st quarter valued at $25,000. Scarborough Advisors LLC purchased a new stake in Southern in the 1st quarter worth $25,000. Ankerstar Wealth LLC acquired a new position in Southern during the fourth quarter worth $25,000. Cornerstone Financial Management LLC purchased a new position in Southern during the fourth quarter valued at $27,000. Finally, J.Safra Asset Management Corp purchased a new position in Southern during the fourth quarter valued at $27,000. 64.10% of the stock is owned by institutional investors and hedge funds.

Southern Trading Down 0.2%

Shares of SO opened at $92.12 on Wednesday. Southern Company has a 52-week low of $83.80 and a 52-week high of $100.83. The stock has a market cap of $105.97 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 1.78 and a beta of 0.34. The firm’s fifty day moving average is $94.69 and its two-hundred day moving average is $94.40. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 1.62.

Southern (NYSE:SO) last issued its earnings results on Wednesday, July 29th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.12. The business had revenue of $6.98 billion during the quarter, compared to analysts’ expectations of $7.23 billion. Southern had a net margin of 15.43% and a return on equity of 12.93%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.79 earnings per share. Research analysts forecast that Southern Company will post 4.58 earnings per share for the current fiscal year.

Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be paid 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 currently 72.90%.

Analyst Upgrades and Downgrades

SO has been the topic of several research analyst reports. Truist Financial dropped their target price on shares of Southern from $100.00 to $97.00 and set a “hold” rating on the stock in a research report on Thursday, August 13th. Mizuho set a $106.00 price target on shares of Southern in a research note on Friday, July 31st. Raymond James Financial reiterated an “outperform” rating and issued a $104.00 price objective on shares of Southern in a report on Friday, May 1st. JPMorgan Chase & Co. boosted their price objective on Southern from $101.00 to $104.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Finally, BMO Capital Markets increased their target price on Southern from $102.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, July 27th. Seven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $100.09.

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.