The Southern Company (NYSE:SO) Forecasted to Earn FY2023 Earnings of $3.70 Per Share

The Southern Company (NYSE:SOGet Rating) – Equities research analysts at Seaport Res Ptn cut their FY2023 earnings per share estimates for Southern in a report released on Monday, November 21st. Seaport Res Ptn analyst A. Storozynski now expects that the utilities provider will post earnings of $3.70 per share for the year, down from their prior estimate of $3.80. The consensus estimate for Southern’s current full-year earnings is $3.60 per share. Seaport Res Ptn also issued estimates for Southern’s FY2024 earnings at $4.07 EPS.

SO has been the topic of a number of other reports. Morgan Stanley lifted their price objective on Southern from $55.00 to $59.00 and gave the company an “underweight” rating in a report on Friday, November 11th. The Goldman Sachs Group upped their target price 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. StockNews.com started coverage on shares of Southern in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Argus boosted their price target on shares of Southern from $83.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, September 14th. Finally, Wells Fargo & Company decreased their price target on shares of Southern from $72.00 to $70.00 and set an “equal weight” rating for the company in a report on Wednesday, October 19th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, Southern presently has a consensus rating of “Hold” and a consensus target price of $71.42.

Southern Stock Up 0.3 %

NYSE SO opened at $65.95 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.64 and a debt-to-equity ratio of 1.42. The stock’s 50 day moving average is $67.65 and its two-hundred day moving average is $72.04. The company has a market capitalization of $71.80 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 4.55 and a beta of 0.51. Southern has a 1-year low of $60.71 and a 1-year high of $80.57.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Continental Investors Services Inc. bought a new position in shares of Southern during the third quarter worth approximately $402,000. CVA Family Office LLC boosted its position in shares of Southern by 10.2% during the 3rd quarter. CVA Family Office LLC now owns 2,215 shares of the utilities provider’s stock worth $151,000 after acquiring an additional 205 shares in the last quarter. IHT Wealth Management LLC boosted its position in shares of Southern by 34.1% during the 3rd quarter. IHT Wealth Management LLC now owns 19,133 shares of the utilities provider’s stock worth $1,301,000 after acquiring an additional 4,868 shares in the last quarter. Smith Chas P & Associates PA Cpas boosted its position in shares of Southern by 19.0% during the 3rd quarter. Smith Chas P & Associates PA Cpas now owns 10,400 shares of the utilities provider’s stock worth $707,000 after acquiring an additional 1,659 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in shares of Southern by 76.4% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 52,586 shares of the utilities provider’s stock worth $3,577,000 after acquiring an additional 22,775 shares in the last quarter. 62.20% of the stock is owned by institutional investors.

Insider Buying and Selling at Southern

In other Southern 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 value of $200,690.00. Following the transaction, the executive vice president now directly owns 39,916 shares of the company’s stock, valued at approximately $2,626,472.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Southern 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 value of $200,690.00. Following the transaction, the executive vice president now directly owns 39,916 shares of the company’s stock, valued at approximately $2,626,472.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen E. Kuczynski sold 14,500 shares of the 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 transaction, the chief executive officer now directly owns 115,284 shares in the company, valued at $7,438,123.68. The disclosure for this sale can be found here. Insiders have sold a total of 32,050 shares of company stock valued at $2,288,545 in the last three months. 0.37% of the stock is currently owned by company insiders.

Southern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Monday, November 21st will be issued a $0.68 dividend. 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 4.12%. Southern’s payout ratio is 86.08%.

About Southern

(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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