1ST Source Bank Has $507,000 Stock Holdings in Southern Company (The) $SO

1ST Source Bank grew its stake in Southern Company (The) (NYSE:SO) by 33.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,518 shares of the utilities provider’s stock after purchasing an additional 1,368 shares during the quarter. 1ST Source Bank’s holdings in Southern were worth $507,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SO. Cerity Partners LLC lifted its position in shares of Southern by 20.3% during the 1st quarter. Cerity Partners LLC now owns 228,602 shares of the utilities provider’s stock worth $21,020,000 after buying an additional 38,587 shares during the last quarter. Ballentine Partners LLC grew its holdings in shares of Southern by 20.0% during the 1st quarter. Ballentine Partners LLC now owns 6,884 shares of the utilities provider’s stock valued at $633,000 after purchasing an additional 1,149 shares during the last quarter. Kathmere Capital Management LLC acquired a new position in Southern during the 1st quarter worth approximately $204,000. Realta Investment Advisors bought a new position in Southern in the 1st quarter valued at approximately $200,000. Finally, Platform Technology Partners boosted its position in Southern by 3.9% in the first quarter. Platform Technology Partners now owns 3,872 shares of the utilities provider’s stock valued at $356,000 after buying an additional 145 shares in the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Trading Up 0.5%

NYSE:SO opened at $91.39 on Monday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.74 and a quick ratio of 0.54. Southern Company has a one year low of $80.46 and a one year high of $100.83. The company has a market cap of $100.63 billion, a PE ratio of 23.49, a PEG ratio of 3.31 and a beta of 0.45. The firm has a 50-day moving average of $94.19 and a 200-day moving average of $92.51.

Southern (NYSE:SO) last posted its quarterly earnings data on Wednesday, October 29th. The utilities provider reported $1.60 EPS for the quarter, beating the consensus estimate of $1.51 by $0.09. The firm had revenue of $7.82 billion during the quarter, compared to analyst estimates of $8.04 billion. Southern had a net margin of 15.10% and a return on equity of 12.09%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the business posted $1.39 EPS. As a group, equities research analysts expect that Southern Company will post 4.29 EPS for the current fiscal year.

Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Investors of record on Monday, November 17th will be issued a $0.74 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $2.96 annualized dividend and a yield of 3.2%. Southern’s dividend payout ratio (DPR) is 73.27%.

Wall Street Analyst Weigh In

SO has been the subject of a number of research reports. BTIG Research began coverage on shares of Southern in a report on Tuesday, October 21st. They issued a “neutral” rating for the company. JPMorgan Chase & Co. boosted their price target on shares of Southern from $97.00 to $98.00 and gave the stock a “neutral” rating in a research report on Thursday, August 21st. Morgan Stanley reiterated an “outperform” rating and set a $99.00 price objective on shares of Southern in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Southern in a research note on Wednesday, October 8th. Finally, UBS Group upped their price target on shares of Southern from $100.00 to $104.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $99.56.

Southern Company Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.