Rep. Marjorie Taylor Greene Purchases Shares of The Southern Company (NYSE:SO)

Representative Marjorie Taylor Greene (R-Georgia) recently bought shares of The Southern Company (NYSE:SO). In a filing disclosed on November 08th, the Representative disclosed that they had bought between $1,001 and $15,000 in Southern stock on November 7th.

Representative Marjorie Taylor Greene also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Berkshire Hathaway (NYSE:BRK.B) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of FedEx (NYSE:FDX) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of Dell Technologies (NYSE:DELL) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of Hershey (NYSE:HSY) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of Tractor Supply (NASDAQ:TSCO) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of Blackstone (NYSE:BX) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of NextEra Energy (NYSE:NEE) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of The Goldman Sachs Group (NYSE:GS) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of ServiceNow (NYSE:NOW) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of Palo Alto Networks (NASDAQ:PANW) on 11/7/2024.

Southern Stock Down 0.3 %

SO stock opened at $88.34 on Tuesday. The Southern Company has a 52 week low of $65.80 and a 52 week high of $94.45. The company has a quick ratio of 0.66, a current ratio of 0.91 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $96.79 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 3.15 and a beta of 0.52. The firm has a 50 day moving average of $89.93 and a 200 day moving average of $83.89.

Southern (NYSE:SO) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.10. Southern had a net margin of 17.87% and a return on equity of 12.78%. The company had revenue of $7.27 billion during the quarter, compared to analyst estimates of $7.14 billion. During the same period last year, the firm posted $1.42 EPS. Southern’s revenue for the quarter was up 4.2% compared to the same quarter last year. Sell-side analysts forecast that The Southern Company will post 4.04 earnings per share for the current year.

Southern Announces Dividend

The business also recently announced 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. This represents a $2.88 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Monday, November 18th. Southern’s dividend payout ratio (DPR) is presently 66.98%.

Insider Activity

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Mizuho Securities USA LLC increased its position in shares of Southern by 17,272.6% in the third quarter. Mizuho Securities USA LLC now owns 14,647,000 shares of the utilities provider’s stock valued at $1,320,866,000 after buying an additional 14,562,689 shares in the last quarter. Capital International Investors increased its position in shares of Southern by 45.9% in the first quarter. Capital International Investors now owns 23,994,733 shares of the utilities provider’s stock valued at $1,721,382,000 after buying an additional 7,550,570 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Southern by 8,741.6% in the third quarter. International Assets Investment Management LLC now owns 1,502,813 shares of the utilities provider’s stock valued at $135,524,000 after buying an additional 1,485,816 shares in the last quarter. 1832 Asset Management L.P. increased its position in shares of Southern by 2,719.7% in the second quarter. 1832 Asset Management L.P. now owns 872,373 shares of the utilities provider’s stock valued at $67,670,000 after buying an additional 841,435 shares in the last quarter. Finally, Wulff Hansen & CO. increased its position in shares of Southern by 7,657.0% in the second quarter. Wulff Hansen & CO. now owns 571,148 shares of the utilities provider’s stock valued at $44,304,000 after buying an additional 563,785 shares in the last quarter. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Southern from $80.00 to $87.00 and gave the stock an “underweight” rating in a report on Monday, August 12th. The Goldman Sachs Group increased their price target on shares of Southern from $83.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Barclays upped their price objective on shares of Southern from $71.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Morgan Stanley upped their price objective on shares of Southern from $78.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, BMO Capital Markets reduced their price objective on shares of Southern from $99.00 to $97.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $89.27.

About Representative Greene

Marjorie Taylor Greene (Republican Party) is a member of the U.S. House, representing Georgia’s 14th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2025. Greene (Republican Party) is running for re-election to the U.S. House to represent Georgia’s 14th Congressional District. She declared candidacy for the 2024 election. Marjorie Taylor Greene earned a bachelor’s degree in business administration from the University of Georgia. Greene’s career experience includes co-owning construction company Taylor Commercial and founding and owning a CrossFit gym.

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.