KeyCorp Equities Analysts Lower Earnings Estimates for The Southern Company (NYSE:SO)

The Southern Company (NYSE:SO) – Equities researchers at KeyCorp reduced their Q4 2021 earnings per share estimates for shares of Southern in a note issued to investors on Wednesday, January 12th. KeyCorp analyst S. Karp now expects that the utilities provider will post earnings of $0.35 per share for the quarter, down from their previous forecast of $0.38. KeyCorp has a “Overweight” rating and a $71.00 price target on the stock. KeyCorp also issued estimates for Southern’s FY2022 earnings at $3.55 EPS and FY2023 earnings at $3.80 EPS.

Southern (NYSE:SO) last released its quarterly earnings results on Thursday, November 4th. The utilities provider reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.01. The business had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $6.15 billion. Southern had a net margin of 13.40% and a return on equity of 11.38%. Southern’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.22 earnings per share.

Other research analysts have also issued research reports about the stock. Scotiabank lowered shares of Southern from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, December 15th. Mizuho raised shares of Southern from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $55.00 to $60.00 in a research report on Monday, December 6th. UBS Group downgraded shares of Southern from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 5th. Finally, Morgan Stanley lifted their price target on shares of Southern from $61.00 to $65.00 and gave the company an “underweight” rating in a research report on Tuesday, December 21st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Southern presently has a consensus rating of “Hold” and a consensus target price of $69.20.

SO stock opened at $68.66 on Friday. The stock has a market capitalization of $72.77 billion, a P/E ratio of 24.26, a price-to-earnings-growth ratio of 3.87 and a beta of 0.51. The company has a current ratio of 0.86, a quick ratio of 0.69 and a debt-to-equity ratio of 1.47. Southern has a 12 month low of $56.69 and a 12 month high of $69.23. The firm has a 50-day moving average price of $65.24 and a 200-day moving average price of $64.32.

The business also recently announced a quarterly dividend, which will be paid on Monday, March 7th. Stockholders of record on Tuesday, February 22nd will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.85%. Southern’s dividend payout ratio is currently 93.29%.

In other Southern news, CEO Stephen E. Kuczynski sold 2,500 shares of the stock in a transaction dated Monday, January 10th. The stock was sold at an average price of $68.59, for a total value of $171,475.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Christopher Cummiskey sold 989 shares of the stock in a transaction dated Wednesday, January 5th. The shares were sold at an average price of $67.65, for a total value of $66,905.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,960 shares of company stock worth $5,296,450. Insiders own 0.43% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Southern by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 90,175,199 shares of the utilities provider’s stock worth $5,456,502,000 after acquiring an additional 471,093 shares during the last quarter. BlackRock Inc. raised its position in Southern by 4.3% during the 2nd quarter. BlackRock Inc. now owns 75,047,966 shares of the utilities provider’s stock valued at $4,541,152,000 after purchasing an additional 3,064,645 shares in the last quarter. Franklin Resources Inc. raised its position in Southern by 4.1% during the 3rd quarter. Franklin Resources Inc. now owns 29,764,010 shares of the utilities provider’s stock valued at $1,844,476,000 after purchasing an additional 1,182,130 shares in the last quarter. FMR LLC raised its position in shares of Southern by 7.7% in the 2nd quarter. FMR LLC now owns 22,647,246 shares of the utilities provider’s stock worth $1,370,384,000 after acquiring an additional 1,626,550 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Southern by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 16,083,865 shares of the utilities provider’s stock worth $994,383,000 after acquiring an additional 194,848 shares in the last quarter. Institutional investors and hedge funds own 59.05% of the company’s stock.

About Southern

The Southern Co is a holding company. The firm engages in the sale of electricity. It operates through the following segments: Traditional Electric Operating Companies, Southern Power and Southern Company Gas. The Traditional Electric Operating Companies segment refers to vertically integrated utilities that own generation, transmission and distribution facilities, and supplies electric services in the states of Alabama, Georgia, Florida, and Mississippi.

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Earnings History and Estimates for Southern (NYSE:SO)

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