Credit Suisse Group Increases Southern (NYSE:SO) Price Target to $70.00

Southern (NYSE:SOGet Rating) had its price target raised by research analysts at Credit Suisse Group from $60.00 to $70.00 in a research note issued to investors on Wednesday, The Fly reports. The brokerage currently has an “underperform” rating on the utilities provider’s stock. Credit Suisse Group’s price target would suggest a potential upside of 5.34% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. Wells Fargo & Company raised their target price on Southern from $70.00 to $77.00 in a research report on Wednesday, December 14th. Morgan Stanley raised their target price on Southern from $59.00 to $63.00 and gave the company an “underweight” rating in a research report on Thursday, December 15th. BMO Capital Markets raised their target price on Southern from $68.00 to $74.00 and gave the company a “market perform” rating in a research report on Friday, December 16th. Bank Of America (Bofa) cut Southern to an “underperform” rating in a research report on Monday, October 24th. Finally, UBS Group dropped their target price on Southern to $80.00 in a research report on Monday, November 21st. Five equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $72.08.

Southern Price Performance

Shares of SO opened at $66.45 on Wednesday. The business’s 50-day moving average is $69.00 and its two-hundred day moving average is $71.27. The company has a market capitalization of $72.34 billion, a P/E ratio of 21.03, a P/E/G ratio of 4.72 and a beta of 0.48. 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 has a fifty-two week low of $60.71 and a fifty-two week high of $80.57.

Southern (NYSE:SOGet Rating) last announced its quarterly earnings results on Thursday, October 27th. The utilities provider reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.02). The company had revenue of $8.38 billion for the quarter, compared to analyst estimates of $6.75 billion. Southern had a return on equity of 12.21% and a net margin of 12.52%. Research analysts predict that Southern will post 3.58 earnings per share for the current year.

Insiders Place Their Bets

In other Southern news, CEO Stephen E. Kuczynski sold 14,546 shares of the firm’s stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $70.95, for a total value of $1,032,038.70. Following the transaction, the chief executive officer now directly owns 120,786 shares of the company’s stock, valued at approximately $8,569,766.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Martin Bernard Davis sold 1,475 shares of the firm’s stock in a transaction that occurred on Wednesday, December 7th. The shares were sold at an average price of $68.35, for a total transaction of $100,816.25. Following the completion of the sale, the executive vice president now owns 38,441 shares in the company, valued at approximately $2,627,442.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen E. Kuczynski sold 14,546 shares of the firm’s stock in a transaction that occurred on Tuesday, January 10th. The stock was sold at an average price of $70.95, for a total transaction of $1,032,038.70. Following the sale, the chief executive officer now owns 120,786 shares of the company’s stock, valued at approximately $8,569,766.70. The disclosure for this sale can be found here. Insiders have sold 19,071 shares of company stock valued at $1,333,545 in the last ninety days. 0.37% of the stock is currently owned by corporate insiders.

Institutional Trading of Southern

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. PFG Advisors increased its holdings in shares of Southern by 3.1% during the 2nd quarter. PFG Advisors now owns 4,712 shares of the utilities provider’s stock worth $336,000 after buying an additional 142 shares during the last quarter. SignalPoint Asset Management LLC increased its holdings in Southern by 1.0% in the 2nd quarter. SignalPoint Asset Management LLC now owns 14,533 shares of the utilities provider’s stock valued at $1,036,000 after purchasing an additional 144 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in Southern by 0.4% in the 2nd quarter. Pinnacle Associates Ltd. now owns 38,101 shares of the utilities provider’s stock valued at $2,717,000 after purchasing an additional 144 shares during the last quarter. Burns J W & Co. Inc. NY increased its holdings in Southern by 0.7% in the 4th quarter. Burns J W & Co. Inc. NY now owns 21,982 shares of the utilities provider’s stock valued at $1,570,000 after purchasing an additional 145 shares during the last quarter. Finally, LCM Capital Management Inc increased its holdings in Southern by 3.7% in the 2nd quarter. LCM Capital Management Inc now owns 4,137 shares of the utilities provider’s stock valued at $295,000 after purchasing an additional 148 shares during the last quarter. Institutional investors and hedge funds own 61.78% of the company’s stock.

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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