Tempo Wealth LLC Acquires New Shares in Southern Company (The) $SO

Tempo Wealth LLC acquired a new position in Southern Company (The) (NYSE:SO) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 16,949 shares of the utilities provider’s stock, valued at approximately $1,478,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SO. Ankerstar Wealth LLC purchased a new stake in shares of Southern in the 4th quarter worth approximately $25,000. Triumph Capital Management purchased a new position in Southern during the third quarter valued at approximately $29,000. Cornerstone Financial Management LLC purchased a new position in Southern during the fourth quarter valued at approximately $27,000. J.Safra Asset Management Corp bought a new position in Southern in the fourth quarter worth approximately $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Southern in the fourth quarter worth approximately $31,000. 64.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SO has been the topic of several recent research reports. Morgan Stanley reaffirmed an “underweight” rating and set a $87.00 target price on shares of Southern in a research report on Thursday, May 21st. Seaport Research Partners lowered Southern from a “buy” rating to a “neutral” rating in a research report on Monday, April 20th. Jefferies Financial Group restated a “hold” rating and set a $102.00 price objective on shares of Southern in a research note on Monday, February 23rd. Barclays dropped their price objective on Southern from $99.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, TD Cowen lifted their target price on Southern from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $99.32.

Southern Stock Performance

Shares of SO stock opened at $93.23 on Friday. The business’s fifty day simple moving average is $93.65 and its 200-day simple moving average is $92.06. The company has a market cap of $105.09 billion, a PE ratio of 23.72, a PEG ratio of 2.80 and a beta of 0.34. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 1.68. Southern Company has a 12-month low of $83.80 and a 12-month high of $100.83.

Southern (NYSE:SO) last issued its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.21 by $0.11. The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.07 billion. Southern had a return on equity of 12.64% and a net margin of 14.46%.The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.23 EPS. Analysts expect that Southern Company will post 4.58 earnings per share for the current fiscal year.

Southern Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Monday, May 18th were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.3%. This is a boost from Southern’s previous quarterly dividend of $0.74. The ex-dividend date was Monday, May 18th. Southern’s dividend payout ratio (DPR) is 77.35%.

Insider Buying and Selling

In other Southern news, CEO Kimberly S. Greene sold 25,000 shares of the firm’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $96.67, for a total value of $2,416,750.00. Following the completion of the sale, the chief executive officer owned 103,602 shares of the company’s stock, valued at approximately $10,015,205.34. This trade represents a 19.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.16% of the company’s stock.

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.