Southern (SO) Receives New Coverage from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Southern (NYSE:SO) in a research note released on Friday morning, Marketbeat.com reports. The firm issued an underweight rating and a $46.00 price objective on the utilities provider’s stock.

A number of other analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Southern from a sell rating to a hold rating in a report on Friday, November 3rd. Bank of America reiterated an underperform rating and set a $51.00 target price on shares of Southern in a report on Tuesday, October 24th. SunTrust Banks reiterated a hold rating and set a $52.00 target price on shares of Southern in a report on Friday, October 20th. Goldman Sachs Group reiterated a sell rating on shares of Southern in a report on Wednesday, January 10th. Finally, Mizuho reiterated a buy rating and set a $55.00 target price on shares of Southern in a report on Friday, December 8th. Six analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. Southern presently has a consensus rating of Hold and an average price target of $51.20.

Southern (NYSE SO) traded down $0.41 during midday trading on Friday, reaching $44.84. 8,591,200 shares of the company’s stock traded hands, compared to its average volume of 6,802,145. The company has a current ratio of 0.73, a quick ratio of 0.57 and a debt-to-equity ratio of 1.73. Southern has a twelve month low of $44.44 and a twelve month high of $53.51. The stock has a market capitalization of $45,000.00, a price-to-earnings ratio of 80.07, a price-to-earnings-growth ratio of 3.31 and a beta of 0.14.

Southern (NYSE:SO) last posted its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.04. Southern had a net margin of 2.59% and a return on equity of 10.81%. The business had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.16 billion. During the same period in the prior year, the business posted $1.27 earnings per share. The company’s revenue was down 1.0% on a year-over-year basis. equities analysts expect that Southern will post 2.96 earnings per share for the current year.

In other Southern news, insider Ann P. Daiss sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $52.28, for a total transaction of $261,400.00. Following the completion of the transaction, the insider now owns 7,394 shares of the company’s stock, valued at $386,558.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James Y. Kerr II sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $52.16, for a total transaction of $1,304,000.00. Following the transaction, the vice president now directly owns 26,000 shares of the company’s stock, valued at approximately $1,356,160. The disclosure for this sale can be found here. Insiders sold 128,662 shares of company stock valued at $6,772,438 over the last 90 days. 0.74% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in SO. Vanguard Group Inc. increased its position in shares of Southern by 3.3% during the second quarter. Vanguard Group Inc. now owns 71,053,604 shares of the utilities provider’s stock valued at $3,402,047,000 after acquiring an additional 2,295,466 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Southern by 3.6% during the second quarter. Franklin Resources Inc. now owns 22,379,839 shares of the utilities provider’s stock valued at $1,071,547,000 after acquiring an additional 770,413 shares in the last quarter. Capital Research Global Investors increased its position in shares of Southern by 25.3% during the second quarter. Capital Research Global Investors now owns 14,940,226 shares of the utilities provider’s stock valued at $715,338,000 after acquiring an additional 3,015,226 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Southern by 3.9% during the third quarter. Ameriprise Financial Inc. now owns 9,378,775 shares of the utilities provider’s stock valued at $460,666,000 after acquiring an additional 352,722 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Southern by 4.2% during the third quarter. Legal & General Group Plc now owns 7,292,675 shares of the utilities provider’s stock valued at $358,339,000 after acquiring an additional 291,409 shares in the last quarter. 53.68% of the stock is owned by institutional investors and hedge funds.

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Southern Company Profile

The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.

Analyst Recommendations for Southern (NYSE:SO)

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