Southern Company (The) (NYSE:SO) Given Consensus Recommendation of “Hold” by Brokerages

Southern Company (The) (NYSE:SO) has received a consensus recommendation of “Hold” from the twenty ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $99.5588.

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company set a $96.00 price objective on shares of Southern and gave the company an “equal weight” rating in a research note on Friday, February 20th. Weiss Ratings upgraded shares of Southern from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Evercore upgraded shares of Southern from an “in-line” rating to an “outperform” rating and set a $111.00 price target on the stock in a research report on Thursday, March 5th. TD Cowen boosted their price target on shares of Southern from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Finally, Citigroup reiterated a “buy” rating on shares of Southern in a research report on Friday, April 10th.

Southern Price Performance

Shares of NYSE SO opened at $92.47 on Friday. Southern has a fifty-two week low of $83.80 and a fifty-two week high of $100.83. The firm’s 50-day simple moving average is $94.70 and its 200 day simple moving average is $91.84. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 1.68. The stock has a market cap of $104.24 billion, a P/E ratio of 23.53, a P/E/G ratio of 2.83 and a beta of 0.36.

Southern (NYSE:SO) last issued its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.11. Southern had a net margin of 14.46% and a return on equity of 12.64%. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.07 billion. During the same period in the previous year, the business earned $1.23 earnings per share. The company’s revenue was up 8.0% on a year-over-year basis. Equities analysts expect that Southern will post 4.57 EPS for the current year.

Southern Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 8th. Shareholders of record on Monday, May 18th will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.3%. This is a boost from Southern’s previous quarterly dividend of $0.74. The ex-dividend date is Monday, May 18th. Southern’s dividend payout ratio (DPR) is presently 77.35%.

Insider Activity

In other Southern news, EVP Christopher Cummiskey sold 6,669 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $96.55, for a total value of $643,891.95. Following the sale, the executive vice president directly owned 30,800 shares in the company, valued at approximately $2,973,740. The trade was a 17.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kimberly S. Greene sold 25,000 shares of the business’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $96.67, for a total transaction 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 trade represents a 19.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Southern

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cloud Capital Management LLC acquired a new stake in Southern during the 3rd quarter worth about $25,000. Evergreen Advisors LLC acquired a new stake in Southern during the 1st quarter worth about $25,000. Scarborough Advisors LLC acquired a new stake in Southern during the 1st quarter worth about $25,000. Ankerstar Wealth LLC acquired a new stake in Southern during the 4th quarter worth about $25,000. Finally, Cornerstone Financial Management LLC acquired a new stake in Southern during the 4th quarter worth about $27,000. 64.10% of the stock is currently owned by institutional investors.

Southern Company Profile

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.