Lee Johnson Capital Management LLC Buys Shares of 23,449 Southern Company (The) $SO

Lee Johnson Capital Management LLC purchased a new position in Southern Company (The) (NYSE:SO) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 23,449 shares of the utilities provider’s stock, valued at approximately $2,222,000.

A number of other hedge funds have also made changes to their positions in SO. Avidian Wealth Enterprises LLC lifted its holdings in Southern by 2.3% in the 2nd quarter. Avidian Wealth Enterprises LLC now owns 4,697 shares of the utilities provider’s stock worth $431,000 after purchasing an additional 106 shares during the last quarter. Highline Wealth Partners LLC lifted its stake in shares of Southern by 0.7% in the third quarter. Highline Wealth Partners LLC now owns 15,667 shares of the utilities provider’s stock worth $1,485,000 after buying an additional 106 shares during the last quarter. Sara Bay Financial boosted its holdings in shares of Southern by 2.7% during the 3rd quarter. Sara Bay Financial now owns 4,133 shares of the utilities provider’s stock worth $392,000 after buying an additional 108 shares during the period. Delta Investment Management LLC grew its stake in Southern by 4.6% in the 2nd quarter. Delta Investment Management LLC now owns 2,579 shares of the utilities provider’s stock valued at $237,000 after buying an additional 113 shares during the last quarter. Finally, Marco Investment Management LLC raised its holdings in Southern by 1.1% in the 2nd quarter. Marco Investment Management LLC now owns 10,234 shares of the utilities provider’s stock worth $940,000 after acquiring an additional 113 shares during the period. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Price Performance

Shares of SO stock opened at $87.59 on Wednesday. Southern Company has a 52 week low of $80.46 and a 52 week high of $100.83. The stock has a market capitalization of $96.44 billion, a PE ratio of 21.68, a PEG ratio of 2.82 and a beta of 0.45. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.59 and a current ratio of 0.75. The stock’s fifty day moving average is $89.58 and its 200-day moving average is $92.10.

Southern (NYSE:SO) last issued its quarterly earnings results on Wednesday, October 29th. The utilities provider reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.09. Southern had a net margin of 15.42% and a return on equity of 12.52%. The business had revenue of $7.82 billion for the quarter, compared to the consensus estimate of $8.04 billion. During the same quarter in the prior year, the company earned $1.39 EPS. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. 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. Investors of record on Monday, November 17th were given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 3.4%. The ex-dividend date was Monday, November 17th. Southern’s payout ratio is 73.27%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SO shares. Morgan Stanley restated an “underperform” rating and set a $97.00 price target on shares of Southern in a report on Thursday, November 20th. BTIG Research started coverage on Southern in a research report on Tuesday, October 21st. They issued a “neutral” rating for the company. Cowen reaffirmed a “buy” rating on shares of Southern in a research report on Thursday, December 11th. Barclays decreased their price target on shares of Southern from $98.00 to $91.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Southern in a research report on Wednesday, October 8th. One equities research 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $96.21.

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.