Southern (NYSE:SO) Price Target Raised to $73.00

Southern (NYSE:SO) had its price objective lifted by Bank of America from $70.00 to $73.00 in a research report report published on Tuesday, Benzinga reports. Bank of America currently has a neutral rating on the utilities provider’s stock.

A number of other research firms have also recently issued reports on SO. UBS Group cut Southern from a buy rating to a neutral rating and reduced their price objective for the company from $78.00 to $76.00 in a research report on Thursday, April 4th. Barclays boosted their price target on Southern from $65.00 to $66.00 and gave the stock an equal weight rating in a research report on Monday, April 15th. Scotiabank reduced their price target on Southern from $80.00 to $77.00 and set a sector outperform rating for the company in a research report on Monday. BMO Capital Markets reaffirmed an outperform rating and issued a $76.00 price target (up previously from $72.00) on shares of Southern in a research report on Monday, April 1st. Finally, Wells Fargo & Company reduced their price target on Southern from $75.00 to $72.00 and set an equal weight rating for the company in a research report on Friday, February 16th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Southern has a consensus rating of Moderate Buy and a consensus price target of $74.36.

Southern Stock Performance

Shares of Southern stock opened at $74.37 on Tuesday. The stock has a market cap of $81.41 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 4.63 and a beta of 0.49. Southern has a 12 month low of $61.56 and a 12 month high of $75.80. The company has a quick ratio of 0.56, a current ratio of 0.77 and a debt-to-equity ratio of 1.62. The business has a fifty day simple moving average of $69.50 and a 200-day simple moving average of $69.31.

Southern (NYSE:SO) last released its quarterly earnings data on Thursday, February 15th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. The firm had revenue of $6.05 billion during the quarter, compared to analysts’ expectations of $6.90 billion. Southern had a return on equity of 11.40% and a net margin of 15.79%. The business’s revenue for the quarter was down 14.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 earnings per share. On average, sell-side analysts anticipate that Southern will post 3.99 EPS for the current fiscal year.

Southern Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Monday, May 20th will be paid a $0.72 dividend. This is a positive change from Southern’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Friday, May 17th. Southern’s dividend payout ratio is currently 77.14%.

Insider Activity

In other news, CEO Stephen E. Kuczynski sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $66.94, for a total value of $334,700.00. Following the sale, the chief executive officer now directly owns 129,552 shares in the company, valued at approximately $8,672,210.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Stephen E. Kuczynski sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $66.94, for a total value of $334,700.00. Following the sale, the chief executive officer now directly owns 129,552 shares in the company, valued at approximately $8,672,210.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Christopher Cummiskey sold 899 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $67.06, for a total value of $60,286.94. Following the completion of the sale, the executive vice president now owns 22,502 shares in the company, valued at $1,508,984.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,899 shares of company stock worth $739,587. Company insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Cornell Pochily Investment Advisors Inc. boosted its holdings in shares of Southern by 0.9% in the 1st quarter. Cornell Pochily Investment Advisors Inc. now owns 16,141 shares of the utilities provider’s stock worth $1,158,000 after acquiring an additional 144 shares in the last quarter. Insigneo Advisory Services LLC boosted its holdings in shares of Southern by 3.1% in the 3rd quarter. Insigneo Advisory Services LLC now owns 4,883 shares of the utilities provider’s stock worth $316,000 after acquiring an additional 146 shares in the last quarter. Good Life Advisors LLC boosted its holdings in shares of Southern by 0.8% in the 4th quarter. Good Life Advisors LLC now owns 19,956 shares of the utilities provider’s stock worth $1,399,000 after acquiring an additional 149 shares in the last quarter. Insight Inv LLC lifted its holdings in Southern by 1.4% during the 4th quarter. Insight Inv LLC now owns 10,530 shares of the utilities provider’s stock worth $738,000 after buying an additional 150 shares in the last quarter. Finally, Patten & Patten Inc. TN lifted its holdings in Southern by 0.7% during the 4th quarter. Patten & Patten Inc. TN now owns 20,736 shares of the utilities provider’s stock worth $1,454,000 after buying an additional 150 shares in the last quarter. 64.10% of the stock is owned by institutional investors and hedge funds.

Southern Company Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. 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.