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Several hedge funds recently adjusted their investments in Southern Company (NYSE:SO). Heritage Wealth Management Inc. acquired a new position valued at approximately $372,000, while Sanctuary Advisors LLC invested about $27.4 million in the second quarter. Other notable purchases include Gordian Capital Singapore Pte Ltd at $325,000, Strategic Investment Solutions Inc. at $60,000, and Founders Financial Alliance LLC at $197,000. Institutional investors own 64.10% of the stock.
Southern Shares Increased by 0.8%
Southern’s shares opened at $90.88, with a 50-day moving average of $87.42 and a 200-day average of $79.96. The company has a market cap of $99.37 billion, a P/E ratio of 23.48, and a beta of 0.52.
Quarterly Earnings Report
Southern’s latest earnings report revealed $1.10 EPS for the quarter, surpassing estimates by $0.19. Revenue was $6.46 billion, exceeding expectations of $6.10 billion, marking a 12.4% annual increase.
Dividend Announcement
Southern announced a quarterly dividend of $0.72, paid on September 6th. This equates to an annualized dividend of $2.88, yielding 3.17%.
Insider Transactions
CEO Anthony L. Wilson sold 6,900 shares on July 5th for $535,509. EVP Bryan D. Anderson later sold 6,565 shares on September 6th for $587,830. Insiders have sold a total of 15,845 shares worth $1.3 million over the last 90 days, holding 0.18% of the stock.
Analyst Ratings
Analysts recently made mixed recommendations on Southern. Mizuho downgraded the stock to “neutral” with a $90 target, while JPMorgan raised its goal to $87. Overall, Southern has a consensus “Hold” rating with an average target price of $86.60.
Company Overview
The Southern Company manages electricity generation and distribution and operates in several states with natural gas operations.
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