Southern (NYSE:SO) Price Target Lowered to $97.00 at BMO Capital Markets

by · The Markets Daily

Southern (NYSE:SO – Free Report) had its price target lowered by BMO Capital Markets from $99.00 to $97.00 in a research note published on Friday morning, Benzinga reports. The firm currently has an outperform rating on the utilities provider’s stock.

A number of other equities analysts also recently weighed in on SO. Bank of America upped their price target on shares of Southern from $86.00 to $87.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Mizuho downgraded shares of Southern from an “outperform” rating to a “neutral” rating and set a $90.00 price target on the stock. in a research note on Monday, September 16th. Wolfe Research downgraded shares of Southern from an “outperform” rating to a “peer perform” rating in a research note on Friday, August 2nd. Guggenheim upped their price target on shares of Southern from $93.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company upped their price target on shares of Southern from $77.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $89.27.

View Our Latest Stock Analysis on SO

Southern Price Performance

Shares of NYSE:SO traded down $2.49 on Friday, reaching $88.54. 6,817,447 shares of the company traded hands, compared to its average volume of 4,060,107. Southern has a fifty-two week low of $65.80 and a fifty-two week high of $94.45. The company’s 50 day moving average is $89.74 and its 200-day moving average is $83.15. The stock has a market capitalization of $96.81 billion, a PE ratio of 20.59, a P/E/G ratio of 3.26 and a beta of 0.52. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.91 and a quick ratio of 0.66.

Southern (NYSE:SO – Get Free Report) last announced its earnings results on Thursday, August 1st. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.19. Southern had a net margin of 17.87% and a return on equity of 12.90%. The company had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same period in the previous year, the business earned $0.79 EPS. The company’s revenue was up 12.4% on a year-over-year basis. As a group, analysts anticipate that Southern will post 4.02 earnings per share for the current fiscal year.

Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date is Monday, November 18th. Southern’s dividend payout ratio is 66.98%.

Insiders Place Their Bets

In other Southern news, EVP Sterling A. Jr. Spainhour sold 2,380 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $88.99, for a total transaction of $211,796.20. Following the completion of the transaction, the executive vice president now owns 12,500 shares in the company, valued at $1,112,375. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Sterling A. Jr. Spainhour sold 2,380 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $88.99, for a total transaction of $211,796.20. Following the completion of the sale, the executive vice president now owns 12,500 shares of the company’s stock, valued at approximately $1,112,375. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO James Y. Kerr II sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $89.64, for a total transaction of $2,689,200.00. Following the sale, the chief executive officer now directly owns 145,088 shares of the company’s stock, valued at approximately $13,005,688.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,945 shares of company stock worth $3,488,826 over the last quarter. Company insiders own 0.18% of the company’s stock.

Institutional Trading of Southern

A number of hedge funds and other institutional investors have recently modified their holdings of SO. Capital International Investors increased its holdings in shares of Southern by 45.9% in the first quarter. Capital International Investors now owns 23,994,733 shares of the utilities provider’s stock valued at $1,721,382,000 after purchasing an additional 7,550,570 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Southern by 8,741.6% in the third quarter. International Assets Investment Management LLC now owns 1,502,813 shares of the utilities provider’s stock valued at $135,524,000 after acquiring an additional 1,485,816 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in Southern by 2,719.7% in the second quarter. 1832 Asset Management L.P. now owns 872,373 shares of the utilities provider’s stock valued at $67,670,000 after acquiring an additional 841,435 shares during the last quarter. Wulff Hansen & CO. boosted its stake in Southern by 7,657.0% in the second quarter. Wulff Hansen & CO. now owns 571,148 shares of the utilities provider’s stock valued at $44,304,000 after acquiring an additional 563,785 shares during the last quarter. Finally, Capital Research Global Investors boosted its position in shares of Southern by 35.0% during the first quarter. Capital Research Global Investors now owns 1,929,980 shares of the utilities provider’s stock worth $138,457,000 after purchasing an additional 500,000 shares in the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Company Profile

(Get Free Report)

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.

Read More