Southern (NYSE:SO) Price Target Raised to $59.00 at Morgan Stanley

Southern (NYSE:SOGet Rating) had its price target lifted by Morgan Stanley from $55.00 to $59.00 in a research note issued to investors on Friday morning, Marketbeat reports. They currently have an underweight rating on the utilities provider’s stock.

Several other analysts have also recently commented on the stock. KeyCorp upgraded shares of Southern from a sector weight rating to an overweight rating and set a $70.00 target price for the company in a research report on Thursday, October 20th. Barclays lowered their price objective on shares of Southern from $82.00 to $79.00 and set an overweight rating for the company in a research report on Monday, July 18th. The Goldman Sachs Group upped their price objective on shares of Southern from $53.00 to $61.00 and gave the company a sell rating in a research report on Monday, August 22nd. Wells Fargo & Company lowered their price objective on shares of Southern from $72.00 to $70.00 and set an equal weight rating for the company in a research report on Wednesday, October 19th. Finally, UBS Group upgraded shares of Southern from a neutral rating to a buy rating and upped their price objective for the company from $76.00 to $87.00 in a research report on Thursday, August 4th. Five research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $72.00.

Southern Stock Performance

Shares of Southern stock opened at $64.54 on Friday. The firm has a fifty day moving average of $69.27 and a two-hundred day moving average of $72.39. The stock has a market capitalization of $70.26 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 4.52 and a beta of 0.51. Southern has a 52 week low of $60.71 and a 52 week high of $80.57. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.64 and a current ratio of 0.81.

Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Monday, November 21st will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, November 18th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 4.21%. Southern’s dividend payout ratio is 86.08%.

Insider Transactions at Southern

In other news, EVP Martin Bernard Davis sold 3,050 shares of the stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $65.80, for a total transaction of $200,690.00. Following the completion of the transaction, the executive vice president now directly owns 39,916 shares in the company, valued at approximately $2,626,472.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Martin Bernard Davis sold 3,050 shares of the stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $65.80, for a total transaction of $200,690.00. Following the completion of the transaction, the executive vice president now directly owns 39,916 shares in the company, valued at approximately $2,626,472.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Stephen E. Kuczynski sold 14,500 shares of the firm’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $64.52, for a total transaction of $935,540.00. Following the completion of the sale, the chief executive officer now owns 115,284 shares of the company’s stock, valued at $7,438,123.68. The disclosure for this sale can be found here. Insiders sold a total of 32,050 shares of company stock worth $2,288,545 in the last three months. Insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On Southern

Hedge funds have recently bought and sold shares of the company. IndexIQ Advisors LLC acquired a new stake in Southern in the 1st quarter valued at about $25,000. Johnson Midwest Financial LLC acquired a new stake in Southern in the 2nd quarter valued at about $25,000. Chilton Capital Management LLC bought a new position in Southern in the 2nd quarter valued at about $25,000. Crewe Advisors LLC raised its holdings in Southern by 93.6% in the 2nd quarter. Crewe Advisors LLC now owns 484 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 234 shares during the period. Finally, CNB Bank raised its holdings in Southern by 186.2% in the 2nd quarter. CNB Bank now owns 498 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 324 shares during the period. 62.20% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also

Analyst Recommendations for Southern (NYSE:SO)

Receive News & Ratings for Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern and related companies with MarketBeat.com's FREE daily email newsletter.