KeyCorp Research Analysts Raise Earnings Estimates for The Southern Company (NYSE:SO)

The Southern Company (NYSE:SOGet Rating) – Analysts at KeyCorp lifted their FY2022 earnings per share estimates for Southern in a report released on Thursday, August 4th. KeyCorp analyst S. Karp now anticipates that the utilities provider will post earnings per share of $3.60 for the year, up from their prior estimate of $3.54. The consensus estimate for Southern’s current full-year earnings is $3.60 per share. KeyCorp also issued estimates for Southern’s FY2025 earnings at $4.40 EPS and FY2026 earnings at $4.72 EPS.

SO has been the subject of a number of other research reports. Mizuho boosted their price target on Southern from $67.00 to $76.00 and gave the company a “neutral” rating in a research note on Thursday, April 21st. Seaport Res Ptn reiterated a “buy” rating on shares of Southern in a research report on Thursday, June 30th. Wells Fargo & Company lifted their target price on Southern from $68.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 19th. Barclays decreased their target price on Southern from $82.00 to $79.00 and set an “overweight” rating on the stock in a research report on Monday, July 18th. Finally, Morgan Stanley decreased their target price on Southern from $67.00 to $66.00 and set an “underweight” rating on the stock in a research report on Monday, May 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $75.70.

Southern Stock Down 0.9 %

SO stock opened at $77.27 on Friday. The company has a market cap of $82.14 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 5.37 and a beta of 0.50. The business has a 50-day simple moving average of $72.20 and a 200 day simple moving average of $71.21. Southern has a 52 week low of $60.99 and a 52 week high of $78.78. The company has a quick ratio of 0.67, a current ratio of 0.85 and a debt-to-equity ratio of 1.55.

Southern (NYSE:SOGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The utilities provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.23. The business had revenue of $7.21 billion during the quarter, compared to the consensus estimate of $5.31 billion. Southern had a return on equity of 12.09% and a net margin of 12.13%. Southern’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 earnings per share.

Hedge Funds Weigh In On Southern

A number of institutional investors and hedge funds have recently modified their holdings of the business. Coastal Bridge Advisors LLC boosted its holdings in shares of Southern by 0.6% during the 2nd quarter. Coastal Bridge Advisors LLC now owns 28,656 shares of the utilities provider’s stock worth $2,043,000 after buying an additional 174 shares in the last quarter. Ascent Group LLC lifted its holdings in shares of Southern by 29.7% in the 2nd quarter. Ascent Group LLC now owns 21,325 shares of the utilities provider’s stock worth $1,640,000 after purchasing an additional 4,877 shares in the last quarter. AMG National Trust Bank lifted its holdings in shares of Southern by 13.5% in the 2nd quarter. AMG National Trust Bank now owns 3,950 shares of the utilities provider’s stock worth $286,000 after purchasing an additional 471 shares in the last quarter. Stokes Family Office LLC lifted its holdings in shares of Southern by 1.5% in the 2nd quarter. Stokes Family Office LLC now owns 16,461 shares of the utilities provider’s stock worth $1,174,000 after purchasing an additional 248 shares in the last quarter. Finally, Meridian Wealth Management LLC lifted its holdings in shares of Southern by 14.8% in the 2nd quarter. Meridian Wealth Management LLC now owns 17,314 shares of the utilities provider’s stock worth $1,235,000 after purchasing an additional 2,232 shares in the last quarter. 60.58% of the stock is currently owned by institutional investors.

Insider Transactions at Southern

In other Southern news, CEO Stephen E. Kuczynski sold 14,500 shares of the stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $72.08, for a total transaction of $1,045,160.00. Following the completion of the sale, the chief executive officer now owns 115,284 shares of the company’s stock, valued at approximately $8,309,670.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Southern news, EVP James Y. Kerr II sold 25,000 shares of the stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $76.00, for a total transaction of $1,900,000.00. Following the completion of the sale, the executive vice president now owns 136,987 shares of the company’s stock, valued at approximately $10,411,012. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen E. Kuczynski sold 14,500 shares of the stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $72.08, for a total transaction of $1,045,160.00. Following the sale, the chief executive officer now directly owns 115,284 shares of the company’s stock, valued at approximately $8,309,670.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,500 shares of company stock worth $5,083,910. Insiders own 0.37% of the company’s stock.

Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 6th. Stockholders of record on Monday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend is Friday, August 12th. Southern’s dividend payout ratio (DPR) is currently 95.77%.

Southern Company Profile

(Get Rating)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services segments. 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, wholesale gas services, and gas pipeline investments operations.

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Earnings History and Estimates for Southern (NYSE:SO)

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