Brokerages Set Southern Co (SO) PT at $48.61
Shares of Southern Co (NYSE:SO) have earned an average recommendation of “Hold” from the twenty analysts that are presently covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $48.61.
A number of research firms recently weighed in on SO. Royal Bank of Canada reissued a “buy” rating on shares of Southern in a research note on Friday, December 22nd. Morgan Stanley dropped their price target on shares of Southern from $48.00 to $44.00 and set an “underweight” rating for the company in a research note on Tuesday, February 13th. ValuEngine downgraded shares of Southern from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. UBS Group started coverage on shares of Southern in a research note on Friday, February 2nd. They set a “neutral” rating and a $46.00 price target for the company. Finally, SunTrust Banks set a $49.00 target price on shares of Southern and gave the company a “hold” rating in a research note on Wednesday, January 3rd.
Large investors have recently modified their holdings of the business. AHL Partners LLP boosted its holdings in shares of Southern by 61.9% in the second quarter. AHL Partners LLP now owns 16,978 shares of the utilities provider’s stock valued at $813,000 after buying an additional 6,489 shares during the period. Optimum Investment Advisors boosted its holdings in shares of Southern by 12.0% in the second quarter. Optimum Investment Advisors now owns 20,046 shares of the utilities provider’s stock valued at $960,000 after buying an additional 2,152 shares during the period. Capital Research Global Investors boosted its holdings in Southern by 25.3% during the second quarter. Capital Research Global Investors now owns 14,940,226 shares of the utilities provider’s stock worth $715,338,000 after purchasing an additional 3,015,226 shares during the last quarter. Flinton Capital Management LLC boosted its holdings in Southern by 11.4% during the second quarter. Flinton Capital Management LLC now owns 364,720 shares of the utilities provider’s stock worth $17,463,000 after purchasing an additional 37,440 shares during the last quarter. Finally, Cambria Investment Management L.P. acquired a new position in Southern during the second quarter worth $1,853,000. 56.44% of the stock is owned by hedge funds and other institutional investors.
Southern (NYSE:SO) last posted its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.05. The business had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.17 billion. Southern had a net margin of 3.82% and a return on equity of 11.96%. Southern’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 earnings per share. equities analysts anticipate that Southern will post 2.9 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 6th. Shareholders of record on Tuesday, February 20th were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 5.27%. The ex-dividend date was Friday, February 16th. Southern’s payout ratio is presently 414.29%.
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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.
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