KeyCorp Cuts The Southern (NYSE:SO) Price Target to $65.00


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The Southern (NYSE:SO) had its price objective cut by equities researchers at KeyCorp from $66.00 to $65.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s price target suggests a potential upside of 8.86% from the company’s previous close.

SO has been the subject of several other reports. Morgan Stanley decreased their target price on shares of The Southern from $62.00 to $57.00 and set an “underweight” rating for the company in a report on Tuesday, December 15th. Wells Fargo & Company upgraded shares of The Southern from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $63.00 to $72.00 in a report on Tuesday, December 1st. They noted that the move was a valuation call. Mizuho raised their target price on shares of The Southern from $48.00 to $53.00 in a report on Wednesday, October 28th. BidaskClub lowered shares of The Southern from a “hold” rating to a “sell” rating in a research report on Friday, December 25th. Finally, BMO Capital Markets began coverage on shares of The Southern in a research report on Tuesday, November 24th. They issued a “market perform” rating and a $67.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $64.60.

NYSE:SO opened at $59.71 on Tuesday. The Southern has a twelve month low of $41.96 and a twelve month high of $71.10. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.46. The company has a 50-day moving average of $60.65 and a 200-day moving average of $56.90. The firm has a market cap of $63.06 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 4.58 and a beta of 0.38.

The Southern (NYSE:SO) last announced its earnings results on Thursday, October 29th. The utilities provider reported $1.22 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.02). The Southern had a return on equity of 10.47% and a net margin of 15.83%. The firm had revenue of $5.62 billion during the quarter, compared to analyst estimates of $6.29 billion. During the same quarter in the previous year, the business earned $1.34 earnings per share. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, research analysts forecast that The Southern will post 3.16 earnings per share for the current year.

In related news, CEO Kimberly S. Greene sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 3rd. The shares were sold at an average price of $61.96, for a total transaction of $1,858,800.00. Following the transaction, the chief executive officer now owns 50,291 shares of the company’s stock, valued at $3,116,030.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Stephen E. Kuczynski sold 2,500 shares of The Southern stock in a transaction that occurred on Thursday, December 10th. The shares were sold at an average price of $60.93, for a total transaction of $152,325.00. Following the completion of the transaction, the chief executive officer now directly owns 64,496 shares in the company, valued at approximately $3,929,741.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,000 shares of company stock worth $2,164,100. Insiders own 0.39% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Demars Financial Group LLC bought a new stake in The Southern in the 2nd quarter valued at $36,000. Founders Capital Management acquired a new position in shares of The Southern during the fourth quarter valued at about $43,000. Rockbridge Investment Management LCC acquired a new position in shares of The Southern during the second quarter valued at about $44,000. Kathmere Capital Management LLC acquired a new position in shares of The Southern during the third quarter valued at about $47,000. Finally, CVA Family Office LLC acquired a new position in The Southern in the third quarter worth about $51,000. 57.29% of the stock is currently owned by institutional investors.

The Southern Company Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.

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Analyst Recommendations for The Southern (NYSE:SO)

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