Barclays Increases Southern (NYSE:SO) Price Target to $71.00

Southern (NYSE:SOGet Free Report) had its price target increased by equities researchers at Barclays from $66.00 to $71.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s target price would suggest a potential downside of 9.46% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Morgan Stanley lowered their price target on shares of Southern from $74.00 to $71.00 and set an “equal weight” rating for the company in a report on Monday, June 24th. Mizuho upped their price target on shares of Southern from $73.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. BMO Capital Markets reiterated an “outperform” rating and set a $76.00 price target (up from $72.00) on shares of Southern in a report on Monday, April 1st. Argus upped their price target on shares of Southern from $75.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Finally, UBS Group lowered shares of Southern from a “buy” rating to a “neutral” rating and lowered their price target for the company from $78.00 to $76.00 in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $76.50.

Read Our Latest Research Report on SO

Southern Price Performance

SO stock opened at $78.42 on Tuesday. The stock has a market cap of $85.74 billion, a PE ratio of 20.26, a P/E/G ratio of 2.80 and a beta of 0.51. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.92 and a quick ratio of 0.65. Southern has a one year low of $61.56 and a one year high of $80.84. The firm has a 50 day simple moving average of $78.23 and a two-hundred day simple moving average of $72.67.

Southern (NYSE:SOGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.13. The firm had revenue of $6.65 billion during the quarter, compared to analyst estimates of $6.59 billion. Southern had a net margin of 16.74% and a return on equity of 12.07%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 EPS. On average, analysts predict that Southern will post 4 EPS for the current fiscal year.

Insider Transactions at Southern

In other news, CEO Anthony L. Wilson sold 6,900 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $77.61, for a total value of $535,509.00. Following the sale, the chief executive officer now directly owns 85,309 shares of the company’s stock, valued at approximately $6,620,831.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Sloane N. Drake sold 12,000 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $77.61, for a total transaction of $931,320.00. Following the sale, the executive vice president now directly owns 16,771 shares of the company’s stock, valued at approximately $1,301,597.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony L. Wilson sold 6,900 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $77.61, for a total transaction of $535,509.00. Following the sale, the chief executive officer now directly owns 85,309 shares in the company, valued at $6,620,831.49. The disclosure for this sale can be found here. Insiders have sold 28,026 shares of company stock valued at $2,151,644 in the last three months. 0.18% of the stock is currently owned by company insiders.

Institutional Trading of Southern

Several institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc grew its position in Southern by 31.8% during the 2nd quarter. Versant Capital Management Inc now owns 585 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 141 shares during the last quarter. Cornell Pochily Investment Advisors Inc. lifted its stake in Southern by 0.9% during the 1st quarter. Cornell Pochily Investment Advisors Inc. now owns 16,141 shares of the utilities provider’s stock valued at $1,158,000 after acquiring an additional 144 shares during the period. Good Life Advisors LLC lifted its stake in Southern by 0.8% during the 4th quarter. Good Life Advisors LLC now owns 19,956 shares of the utilities provider’s stock valued at $1,399,000 after acquiring an additional 149 shares during the period. Insight Inv LLC lifted its stake in Southern by 1.4% during the 4th quarter. Insight Inv LLC now owns 10,530 shares of the utilities provider’s stock valued at $738,000 after acquiring an additional 150 shares during the period. Finally, Patten & Patten Inc. TN lifted its stake in Southern by 0.7% during the 4th quarter. Patten & Patten Inc. TN now owns 20,736 shares of the utilities provider’s stock valued at $1,454,000 after acquiring an additional 150 shares during the period. 64.10% of the stock is owned by hedge funds and other institutional investors.

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.

Further Reading

Analyst Recommendations for Southern (NYSE:SO)

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