Southern (NYSE:SO) PT Raised to $97.00 at Guggenheim

Southern (NYSE:SO) had its price objective hoisted by Guggenheim from $93.00 to $97.00 in a report published on Wednesday, Benzinga reports. They currently have a buy rating on the utilities provider’s stock.

Other equities research analysts have also issued research reports about the stock. The Goldman Sachs Group raised their price target on shares of Southern from $83.00 to $94.00 and gave the stock a buy rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on Southern from $80.00 to $87.00 and gave the company an underweight rating in a research note on Monday, August 12th. Wolfe Research downgraded Southern from an outperform rating to a peer perform rating in a research note on Friday, August 2nd. Mizuho cut Southern from an outperform rating to a neutral rating and set a $90.00 price objective on the stock. in a research note on Monday, September 16th. Finally, UBS Group increased their target price on shares of Southern from $90.00 to $91.00 and gave the stock a neutral rating in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $88.27.

Southern Price Performance

Southern stock opened at $90.31 on Wednesday. The stock has a market cap of $98.75 billion, a P/E ratio of 23.34, a P/E/G ratio of 3.28 and a beta of 0.52. The company has a quick ratio of 0.66, a current ratio of 0.91 and a debt-to-equity ratio of 1.66. The company’s 50 day moving average price is $87.94 and its two-hundred day moving average price is $80.34. Southern has a 52 week low of $62.26 and a 52 week high of $91.86.

Southern (NYSE:SO) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.19. The firm had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.10 billion. Southern had a return on equity of 12.88% and a net margin of 17.67%. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 EPS. On average, equities analysts predict that Southern will post 4.02 earnings per share for the current year.

Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Monday, August 19th were paid a $0.72 dividend. The ex-dividend date was Monday, August 19th. This represents a $2.88 dividend on an annualized basis and a yield of 3.19%. Southern’s dividend payout ratio is currently 74.42%.

Insider Activity

In related news, EVP Bryan D. Anderson sold 6,565 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $89.54, for a total value of $587,830.10. Following the transaction, the executive vice president now directly owns 44,467 shares in the company, valued at approximately $3,981,575.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Bryan D. Anderson sold 6,565 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $89.54, for a total value of $587,830.10. Following the completion of the transaction, the executive vice president now directly owns 44,467 shares in the company, valued at approximately $3,981,575.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sterling A. Jr. Spainhour sold 2,380 shares of Southern stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $88.99, for a total value of $211,796.20. Following the sale, the executive vice president now directly owns 12,500 shares of the company’s stock, valued at approximately $1,112,375. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Voisard Asset Management Group Inc. bought a new stake in shares of Southern in the 4th quarter valued at about $31,000. Scarborough Advisors LLC purchased a new stake in shares of Southern during the fourth quarter valued at approximately $31,000. Versant Capital Management Inc grew its holdings in shares of Southern by 62.0% in the first quarter. Versant Capital Management Inc now owns 444 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 170 shares during the last quarter. TruNorth Capital Management LLC purchased a new position in shares of Southern in the second quarter worth $39,000. Finally, Financial Synergies Wealth Advisors Inc. raised its holdings in Southern by 3,628.6% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 522 shares of the utilities provider’s stock valued at $37,000 after buying an additional 508 shares during the last quarter. 64.10% of the stock is owned by hedge funds and other institutional investors.

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.