Southern (SO) PT Raised to $46.00

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Southern (NYSE:SO) had its price target raised by research analysts at Credit Suisse Group from $44.00 to $46.00 in a report issued on Thursday. The firm currently has an “underperform” rating on the utilities provider’s stock. Credit Suisse Group’s price objective suggests a potential downside of 2.09% from the company’s previous close.

SO has been the topic of several other research reports. Bank of America upgraded shares of Southern from an “underperform” rating to a “neutral” rating and set a $46.00 price target on the stock in a research note on Wednesday, October 10th. SunTrust Banks reiterated a “hold” rating and set a $48.00 price target on shares of Southern in a research note on Thursday, November 8th. Zacks Investment Research upgraded shares of Southern from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research note on Tuesday. Scotiabank restated a “hold” rating and set a $44.00 target price on shares of Southern in a research note on Thursday, August 9th. Finally, Barclays lifted their target price on shares of Southern from $48.00 to $49.00 and gave the company a “hold” rating in a research note on Monday, November 19th. Six analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $46.54.

Shares of Southern stock opened at $46.98 on Thursday. The firm has a market cap of $48.60 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 3.46 and a beta of -0.07. Southern has a 1-year low of $42.38 and a 1-year high of $52.00. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.58 and a current ratio of 0.72.

Southern (NYSE:SO) last issued its quarterly earnings results on Wednesday, November 7th. The utilities provider reported $1.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.07. The business had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $6.68 billion. Southern had a net margin of 10.35% and a return on equity of 12.88%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.12 EPS. As a group, equities analysts expect that Southern will post 3.03 EPS for the current fiscal year.

In other Southern news, insider Mark Lantrip sold 9,000 shares of Southern stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $47.58, for a total value of $428,220.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kimberly S. Greene sold 15,000 shares of Southern stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $47.03, for a total transaction of $705,450.00. Following the completion of the sale, the chief executive officer now owns 9,380 shares in the company, valued at $441,141.40. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CIBC World Markets Inc. increased its holdings in shares of Southern by 1.0% in the 3rd quarter. CIBC World Markets Inc. now owns 106,867 shares of the utilities provider’s stock worth $4,659,000 after buying an additional 1,071 shares during the last quarter. Andra AP fonden increased its holdings in shares of Southern by 2.1% in the 2nd quarter. Andra AP fonden now owns 52,500 shares of the utilities provider’s stock worth $2,431,000 after buying an additional 1,100 shares during the last quarter. Prime Capital Investment Advisors LLC increased its holdings in shares of Southern by 10.6% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 11,597 shares of the utilities provider’s stock worth $506,000 after buying an additional 1,107 shares during the last quarter. Summit Asset Management LLC increased its holdings in shares of Southern by 15.1% in the 3rd quarter. Summit Asset Management LLC now owns 8,868 shares of the utilities provider’s stock worth $387,000 after buying an additional 1,165 shares during the last quarter. Finally, Evercore Wealth Management LLC increased its holdings in shares of Southern by 5.2% in the 3rd quarter. Evercore Wealth Management LLC now owns 23,691 shares of the utilities provider’s stock worth $1,033,000 after buying an additional 1,171 shares during the last quarter. Institutional investors own 56.58% of the company’s stock.

About Southern

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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