The Southern Company to Post Q3 2023 Earnings of $1.36 Per Share, Zacks Research Forecasts (NYSE:SO)

The Southern Company (NYSE:SO) – Zacks Research decreased their Q3 2023 earnings per share estimates for Southern in a report released on Wednesday, September 13th. Zacks Research analyst T. Saha now forecasts that the utilities provider will post earnings per share of $1.36 for the quarter, down from their previous estimate of $1.44. The consensus estimate for Southern’s current full-year earnings is $3.60 per share. Zacks Research also issued estimates for Southern’s Q4 2023 earnings at $0.64 EPS and Q1 2025 earnings at $1.01 EPS.

Southern (NYSE:SO) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.74 by $0.05. The firm had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $6.47 billion. Southern had a return on equity of 9.86% and a net margin of 11.17%. The business’s quarterly revenue was down 20.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.07 EPS.

A number of other equities research analysts also recently weighed in on the company. Morgan Stanley lowered their target price on Southern from $69.00 to $67.00 and set an “equal weight” rating for the company in a report on Wednesday, August 23rd. Royal Bank of Canada boosted their target price on shares of Southern from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, September 6th. The Goldman Sachs Group upgraded shares of Southern from a “buy” rating to a “conviction-buy” rating in a report on Monday, July 3rd. Guggenheim decreased their target price on Southern from $79.00 to $77.00 in a research report on Friday, July 7th. Finally, StockNews.com began coverage on Southern in a report on Saturday, August 19th. They issued a “sell” rating on the stock. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $74.00.

Southern Stock Performance

Shares of SO stock opened at $69.50 on Thursday. The business’s 50 day simple moving average is $69.41 and its 200 day simple moving average is $69.94. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.83 and a quick ratio of 0.62. Southern has a one year low of $58.85 and a one year high of $79.74. The stock has a market capitalization of $75.79 billion, a PE ratio of 24.56, a PEG ratio of 4.66 and a beta of 0.52.

Institutional Trading of Southern

Large investors have recently bought and sold shares of the company. Farther Finance Advisors LLC raised its holdings in Southern by 15.3% in the second quarter. Farther Finance Advisors LLC now owns 2,038 shares of the utilities provider’s stock worth $143,000 after purchasing an additional 270 shares in the last quarter. Tucker Asset Management LLC lifted its position in Southern by 294.3% during the 2nd quarter. Tucker Asset Management LLC now owns 5,729 shares of the utilities provider’s stock valued at $402,000 after acquiring an additional 4,276 shares during the period. ST Germain D J Co. Inc. bought a new stake in Southern during the second quarter worth about $338,000. Portside Wealth Group LLC purchased a new position in shares of Southern during the second quarter valued at approximately $636,000. Finally, Stonebridge Capital Advisors LLC grew its stake in shares of Southern by 5.5% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 3,623 shares of the utilities provider’s stock worth $255,000 after buying an additional 190 shares during the last quarter. 62.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Southern

In other news, EVP Christopher Cummiskey sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $68.30, for a total transaction of $341,500.00. Following the completion of the transaction, the executive vice president now directly owns 22,512 shares of the company’s stock, valued at $1,537,569.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Southern news, CEO Kimberly S. Greene sold 20,000 shares of the company’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $72.62, for a total value of $1,452,400.00. Following the completion of the transaction, the chief executive officer now directly owns 98,659 shares in the company, valued at approximately $7,164,616.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christopher Cummiskey sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $68.30, for a total transaction of $341,500.00. Following the transaction, the executive vice president now owns 22,512 shares in the company, valued at approximately $1,537,569.60. The disclosure for this sale can be found here. Insiders sold 41,490 shares of company stock valued at $2,934,355 in the last quarter. Company insiders own 0.28% of the company’s stock.

Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 6th. Investors of record on Monday, August 21st were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $2.80 dividend on an annualized basis and a yield of 4.03%. Southern’s dividend payout ratio is currently 98.94%.

Southern Company Profile

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