Kestra Advisory Services LLC Has $35.11 Million Stock Holdings in Southern Company (The) $SO

Kestra Advisory Services LLC raised its stake in Southern Company (The) (NYSE:SO) by 6.4% in the 1st quarter, HoldingsChannel reports. The firm owned 363,726 shares of the utilities provider’s stock after acquiring an additional 21,977 shares during the quarter. Kestra Advisory Services LLC’s holdings in Southern were worth $35,107,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SO. Ankerstar Wealth LLC bought a new position in Southern in the fourth quarter worth approximately $25,000. Cornerstone Financial Management LLC acquired a new position in shares of Southern during the fourth quarter worth approximately $27,000. J.Safra Asset Management Corp acquired a new position in shares of Southern during the fourth quarter worth approximately $27,000. Triumph Capital Management bought a new position in shares of Southern in the 3rd quarter worth $29,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Southern in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Stock Up 0.5%

NYSE SO traded up $0.45 on Friday, reaching $95.62. The company had a trading volume of 3,096,682 shares, compared to its average volume of 6,509,696. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 1.68. The company’s fifty day moving average is $94.03 and its 200 day moving average is $93.09. Southern Company has a 52-week low of $83.80 and a 52-week high of $100.83. The stock has a market capitalization of $107.79 billion, a P/E ratio of 24.33, a P/E/G ratio of 2.88 and a beta of 0.34.

Southern (NYSE:SO) last posted its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.11. Southern had a net margin of 14.46% and a return on equity of 12.64%. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.07 billion. During the same period in the previous year, the firm earned $1.23 EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. Sell-side analysts anticipate that Southern Company will post 4.57 earnings per share for the current fiscal year.

Southern Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Monday, May 18th were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Monday, May 18th. This is an increase from Southern’s previous quarterly dividend of $0.74. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.2%. Southern’s payout ratio is 77.35%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Raymond James Financial restated an “outperform” rating and set a $104.00 price objective on shares of Southern in a report on Friday, May 1st. Jefferies Financial Group set a $99.00 price objective on shares of Southern in a report on Monday, June 22nd. Citigroup reissued a “buy” rating on shares of Southern in a research report on Friday, April 10th. Wall Street Zen upgraded shares of Southern from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $89.00 price target on shares of Southern in a research note on Wednesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Southern has an average rating of “Hold” and a consensus target price of $99.26.

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.