Shares of Southern Co (NYSE:SO) have been given an average recommendation of “Hold” by the twenty brokerages that are currently covering the firm, Marketbeat reports. Five analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $48.29.
Several research firms have recently commented on SO. Citigroup raised shares of Southern from a “sell” rating to a “neutral” rating in a research note on Friday. TheStreet raised shares of Southern from a “c” rating to a “b-” rating in a research note on Monday, June 4th. Morgan Stanley decreased their price target on shares of Southern from $44.00 to $42.00 and set an “underweight” rating on the stock in a research note on Wednesday, June 13th. Zacks Investment Research raised shares of Southern from a “sell” rating to a “hold” rating in a research note on Tuesday, May 1st. Finally, Deutsche Bank decreased their price target on shares of Southern from $49.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, May 22nd.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Boys Arnold & Co. Inc. raised its holdings in Southern by 10.8% in the first quarter. Boys Arnold & Co. Inc. now owns 12,322 shares of the utilities provider’s stock worth $557,000 after purchasing an additional 1,199 shares during the period. Willis Investment Counsel raised its holdings in shares of Southern by 0.6% during the first quarter. Willis Investment Counsel now owns 199,640 shares of the utilities provider’s stock worth $8,916,000 after acquiring an additional 1,200 shares during the period. Jacobi Capital Management LLC raised its holdings in shares of Southern by 47.2% during the first quarter. Jacobi Capital Management LLC now owns 3,743 shares of the utilities provider’s stock worth $165,000 after acquiring an additional 1,201 shares during the period. Griffin Asset Management Inc. raised its holdings in shares of Southern by 2.4% during the first quarter. Griffin Asset Management Inc. now owns 52,989 shares of the utilities provider’s stock worth $2,366,000 after acquiring an additional 1,236 shares during the period. Finally, Secrest Blakey & Associates LLC raised its holdings in shares of Southern by 7.8% during the first quarter. Secrest Blakey & Associates LLC now owns 17,374 shares of the utilities provider’s stock worth $776,000 after acquiring an additional 1,254 shares during the period. Institutional investors own 56.79% of the company’s stock.
Southern (NYSE:SO) last posted its quarterly earnings data on Wednesday, May 2nd. The utilities provider reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.04. The company had revenue of $6.37 billion during the quarter, compared to analyst estimates of $5.98 billion. Southern had a net margin of 4.88% and a return on equity of 12.97%. The company’s revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the business posted $0.66 earnings per share. equities analysts predict that Southern will post 2.9 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 6th. Shareholders of record on Monday, May 21st were paid a $0.60 dividend. The ex-dividend date was Friday, May 18th. This is a boost from Southern’s previous quarterly dividend of $0.58. This represents a $2.40 dividend on an annualized basis and a yield of 5.28%. Southern’s dividend payout ratio (DPR) is presently 79.47%.
Southern Company Profile
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, New Jersey, Florida, Tennessee, and Maryland, as well as provides gas marketing services, wholesale gas services, and gas midstream operations.
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