abrdn plc Has $38.33 Million Holdings in The Southern Company (NYSE:SO)

abrdn plc increased its position in shares of The Southern Company (NYSE:SO) by 5.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 424,733 shares of the utilities provider’s stock after buying an additional 21,998 shares during the period. abrdn plc’s holdings in Southern were worth $38,328,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Central Pacific Bank Trust Division acquired a new position in shares of Southern in the 1st quarter valued at about $39,000. Cedar Wealth Management LLC boosted its holdings in shares of Southern by 63.2% during the 1st quarter. Cedar Wealth Management LLC now owns 545 shares of the utilities provider’s stock worth $39,000 after buying an additional 211 shares in the last quarter. TruNorth Capital Management LLC bought a new position in shares of Southern during the 2nd quarter worth approximately $39,000. Versant Capital Management Inc increased its stake in shares of Southern by 31.8% in the 2nd quarter. Versant Capital Management Inc now owns 585 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 141 shares in the last quarter. Finally, West Branch Capital LLC lifted its position in shares of Southern by 34.7% during the 3rd quarter. West Branch Capital LLC now owns 501 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 129 shares during the period. Institutional investors and hedge funds own 64.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on SO. Wolfe Research downgraded shares of Southern from an “outperform” rating to a “peer perform” rating in a research note on Friday, August 2nd. Wells Fargo & Company upped their price target on Southern from $77.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on Southern from $80.00 to $87.00 and gave the stock an “underweight” rating in a report on Monday, August 12th. BMO Capital Markets upped their target price on shares of Southern from $87.00 to $94.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Barclays lifted their price target on Southern from $71.00 to $83.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $89.07.

Insider Buying and Selling at Southern

In other Southern news, CEO James Y. Kerr II sold 30,000 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $89.64, for a total value of $2,689,200.00. Following the sale, the chief executive officer now directly owns 145,088 shares in the company, valued at $13,005,688.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Bryan D. Anderson sold 6,565 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $89.54, for a total value of $587,830.10. Following the completion of the transaction, the executive vice president now directly owns 44,467 shares of the company’s stock, valued at approximately $3,981,575.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Y. Kerr II sold 30,000 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $89.64, for a total transaction of $2,689,200.00. Following the sale, the chief executive officer now directly owns 145,088 shares in the company, valued at $13,005,688.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,945 shares of company stock valued at $3,488,826. Company insiders own 0.18% of the company’s stock.

Southern Trading Down 0.5 %

NYSE SO opened at $89.38 on Thursday. The business’s fifty day moving average is $89.60 and its 200-day moving average is $82.95. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.91 and a quick ratio of 0.66. The stock has a market capitalization of $97.73 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 3.29 and a beta of 0.52. The Southern Company has a one year low of $65.80 and a one year high of $94.45.

Southern (NYSE:SO) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.10 EPS for the quarter, topping the consensus estimate of $0.91 by $0.19. Southern had a net margin of 17.67% and a return on equity of 12.88%. The business had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.10 billion. During the same quarter in the previous year, the firm posted $0.79 earnings per share. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. Equities research analysts predict that The Southern Company will post 4.02 EPS for the current year.

Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a $0.72 dividend. The ex-dividend date is Monday, November 18th. This represents a $2.88 annualized dividend and a yield of 3.22%. Southern’s payout ratio is 68.57%.

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.