Southern (NYSE:SO) Sees Strong Trading Volume – What’s Next?

Southern Company (The) (NYSE:SO) saw unusually-strong trading volume on Friday. Approximately 14,470,975 shares changed hands during trading, an increase of 141% from the average daily volume of 5,995,432 shares. The stock last traded at $93.6660 and had previously closed at $92.47.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SO shares. KeyCorp cut their price target on shares of Southern from $79.00 to $74.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 13th. The Goldman Sachs Group dropped their price objective on shares of Southern from $103.00 to $101.00 in a report on Thursday, October 15th. Barclays cut their target price on Southern from $101.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Friday, October 16th. Royal Bank Of Canada reduced their target price on Southern from $101.00 to $98.00 in a research note on Monday, October 26th. Finally, Truist Financial lowered their price target on Southern from $97.00 to $93.00 and set a “hold” rating for the company in a research report on Thursday, October 15th. Eight investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $97.32.

Southern Stock Up 1.1%

The company has a current ratio of 0.84, a quick ratio of 0.62 and a debt-to-equity ratio of 1.55. The business’s 50-day simple moving average is $88.57 and its 200-day simple moving average is $92.58. The company has a market capitalization of $108.85 billion, a PE ratio of 21.32, a price-to-earnings-growth ratio of 2.44 and a beta of 0.30.

Southern (NYSE:SO) last released its quarterly earnings data on Thursday, November 5th. The utilities provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.71 by $0.23. The business had revenue of $8.84 billion for the quarter, compared to the consensus estimate of $8.38 billion. Southern had a net margin of 16.00% and a return on equity of 13.57%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.54 EPS. As a group, equities research analysts anticipate that Southern Company will post 4.65 EPS for the current fiscal year.

Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 7th. Shareholders of record on Monday, November 16th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, November 16th. Southern’s dividend payout ratio (DPR) is currently 69.25%.

Insider Buying and Selling at Southern

In other Southern news, EVP Sterling Spainhour, Jr. sold 3,333 shares of Southern stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $91.81, for a total transaction of $306,002.73. Following the completion of the transaction, the executive vice president owned 31,886 shares in the company, valued at approximately $2,927,453.66. This trade represents a 9.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.16% of the company’s stock.

Institutional Trading of Southern

Several hedge funds and other institutional investors have recently bought and sold shares of SO. Evergreen Advisors LLC acquired a new position in Southern in the first quarter valued at approximately $25,000. Scarborough Advisors LLC purchased a new position in shares of Southern during the 1st quarter valued at approximately $25,000. Bullseye Investment Management LLC purchased a new position in shares of Southern during the 2nd quarter valued at approximately $26,000. J.Safra Asset Management Corp acquired a new position in shares of Southern in the 2nd quarter valued at $30,000. Finally, Frazier Financial Advisors LLC acquired a new position in shares of Southern in the 2nd quarter valued at $31,000. 64.10% of the stock is owned by institutional investors and hedge funds.

About Southern

Southern Company is an energy holding company based in Atlanta, Georgia. Through its subsidiaries, it generates, transmits and distributes electricity and provides natural gas service, primarily across the southeastern United States. Its electric utility businesses include Alabama Power, Georgia Power and Mississippi Power, which serve customers in their respective states. Southern Company also owns Southern Power, which develops and operates wholesale power generation assets, and Southern Company Gas, whose businesses distribute natural gas to customers in several states.