The Southern Company (NYSE:SO) Receives $67.10 Consensus PT from Brokerages

The Southern Company (NYSE:SO) has been assigned a consensus recommendation of “Hold” from the thirteen research firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $67.55.

A number of equities research analysts have recently issued reports on the stock. Guggenheim upgraded shares of The Southern from a “neutral” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Tuesday, September 7th. Morgan Stanley boosted their price target on shares of The Southern from $60.00 to $64.00 and gave the company an “underweight” rating in a report on Thursday, August 19th. Wells Fargo & Company restated a “buy” rating on shares of The Southern in a report on Monday, August 2nd. Credit Suisse Group reaffirmed a “buy” rating on shares of The Southern in a research report on Wednesday, May 19th. Finally, Mizuho boosted their price objective on shares of The Southern from $57.00 to $60.00 and gave the company an “underperform” rating in a research report on Monday, August 30th.

In other news, CEO Stephen E. Kuczynski sold 2,500 shares of the business’s stock in a transaction on Friday, September 10th. The shares were sold at an average price of $67.04, for a total value of $167,600.00. Following the completion of the sale, the chief executive officer now directly owns 89,151 shares in the company, valued at $5,976,683.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ann P. Daiss sold 1,750 shares of the business’s stock in a transaction on Tuesday, August 3rd. The stock was sold at an average price of $64.34, for a total transaction of $112,595.00. The disclosure for this sale can be found here. Insiders sold 87,247 shares of company stock valued at $5,813,034 over the last three months. Insiders own 0.43% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Capital Advisors Inc. OK grew its stake in shares of The Southern by 4.7% during the 2nd quarter. Capital Advisors Inc. OK now owns 444,903 shares of the utilities provider’s stock worth $26,921,000 after acquiring an additional 20,041 shares in the last quarter. Horizon Investments LLC bought a new position in The Southern during the first quarter worth $1,132,000. Canada Pension Plan Investment Board boosted its position in The Southern by 27.3% during the first quarter. Canada Pension Plan Investment Board now owns 2,405,372 shares of the utilities provider’s stock worth $149,518,000 after purchasing an additional 516,261 shares during the period. InterOcean Capital Group LLC boosted its position in The Southern by 4.3% during the first quarter. InterOcean Capital Group LLC now owns 580,080 shares of the utilities provider’s stock worth $36,058,000 after purchasing an additional 23,667 shares during the period. Finally, Biondo Investment Advisors LLC boosted its position in The Southern by 5.0% during the second quarter. Biondo Investment Advisors LLC now owns 102,242 shares of the utilities provider’s stock worth $6,251,000 after purchasing an additional 4,869 shares during the period. 59.30% of the stock is currently owned by institutional investors.

Shares of NYSE SO traded down $0.36 during midday trading on Tuesday, reaching $65.97. The company’s stock had a trading volume of 3,252,677 shares, compared to its average volume of 4,001,654. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 1.46. The company has a 50 day moving average price of $64.79 and a 200 day moving average price of $63.53. The Southern has a one year low of $52.01 and a one year high of $67.54. The company has a market cap of $69.85 billion, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 4.01 and a beta of 0.45.

The Southern (NYSE:SO) last released its quarterly earnings results on Thursday, July 29th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.05. The Southern had a net margin of 14.47% and a return on equity of 11.43%. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5 billion. Research analysts anticipate that The Southern will post 3.35 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 7th. Shareholders of record on Monday, August 16th were given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 4.00%. The ex-dividend date was Friday, August 13th. The Southern’s dividend payout ratio is 81.23%.

About The Southern

The Southern Co is a holding company. The firm engages in the sale of electricity. It operates through the following segments: Traditional Electric Operating Companies, Southern Power and Southern Company Gas. The Traditional Electric Operating Companies segment refers to vertically integrated utilities that own generation, transmission and distribution facilities, and supplies electric services in the states of Alabama, Georgia, Florida, and Mississippi.

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Analyst Recommendations for The Southern (NYSE:SO)

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