Analysts Set Southern Company (The) (NYSE:SO) PT at $98.08

Southern Company (The) (NYSE:SO) has received an average rating of “Hold” from the twenty research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $98.6944.

Several equities research analysts have commented on the stock. Scotiabank upped their price target on shares of Southern from $101.00 to $103.00 and gave the company a “sector perform” rating in a report on Friday, February 20th. KeyCorp raised shares of Southern from an “underweight” rating to a “sector weight” rating in a report on Wednesday, March 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern in a report on Wednesday, January 21st. Wells Fargo & Company set a $96.00 price target on shares of Southern and gave the company an “equal weight” rating in a report on Friday, February 20th. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of Southern in a report on Friday, February 20th.

Insider Activity at Southern

In other Southern news, EVP Christopher Cummiskey sold 6,669 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $96.55, for a total value of $643,891.95. Following the sale, the executive vice president owned 30,800 shares in the company, valued at approximately $2,973,740. This represents a 17.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Kimberly S. Greene sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $96.67, for a total value of $2,416,750.00. Following the completion of the sale, the chief executive officer owned 103,602 shares in the company, valued at approximately $10,015,205.34. This represents a 19.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Southern

Several hedge funds have recently modified their holdings of the company. Physicians Financial Services Inc. purchased a new stake in shares of Southern during the 1st quarter worth about $270,000. Old North State Trust LLC lifted its position in shares of Southern by 2.8% during the 4th quarter. Old North State Trust LLC now owns 28,348 shares of the utilities provider’s stock valued at $2,472,000 after buying an additional 779 shares in the last quarter. Purpose Unlimited Inc. purchased a new position in shares of Southern during the 4th quarter valued at approximately $61,000. Cornerstone Planning LLC purchased a new position in shares of Southern during the 4th quarter valued at approximately $836,000. Finally, Rockefeller Capital Management L.P. lifted its position in shares of Southern by 1.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 227,383 shares of the utilities provider’s stock valued at $19,828,000 after buying an additional 3,342 shares in the last quarter. 64.10% of the stock is owned by hedge funds and other institutional investors.

Southern Price Performance

Shares of NYSE SO opened at $94.69 on Thursday. The business’s 50 day moving average price is $95.49 and its 200 day moving average price is $92.22. The firm has a market cap of $106.85 billion, a P/E ratio of 24.10, a P/E/G ratio of 2.90 and a beta of 0.41. Southern has a 52 week low of $83.09 and a 52 week high of $100.83. The company has a quick ratio of 0.47, a current ratio of 0.65 and a debt-to-equity ratio of 1.69.

Southern (NYSE:SO) last issued its earnings results on Wednesday, February 18th. The utilities provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Southern had a net margin of 14.69% and a return on equity of 12.52%. The firm had revenue of $6.98 billion during the quarter, compared to analysts’ expectations of $6.41 billion. During the same quarter in the prior year, the company earned $0.50 EPS. Southern’s quarterly revenue was up 10.1% on a year-over-year basis. On average, sell-side analysts expect that Southern will post 4.29 earnings per share for the current year.

Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th were given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 3.1%. The ex-dividend date was Tuesday, February 17th. Southern’s dividend payout ratio is currently 75.32%.

About Southern

Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.