Barclays Increases Southern (NYSE:SO) Price Target to $71.00

Southern (NYSE:SOGet Free Report) had its price target increased by stock analysts at Barclays from $66.00 to $71.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s target price points to a potential downside of 9.46% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Bank of America increased their price target on shares of Southern from $73.00 to $79.00 and gave the stock a “neutral” rating in a report on Friday, May 31st. Scotiabank cut their price target on shares of Southern from $80.00 to $77.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd. UBS Group downgraded shares of Southern from a “buy” rating to a “neutral” rating and cut their price target for the stock from $78.00 to $76.00 in a report on Thursday, April 4th. BMO Capital Markets reiterated an “outperform” rating and issued a $76.00 price target (up previously from $72.00) on shares of Southern in a report on Monday, April 1st. Finally, Argus increased their price target on shares of Southern from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Southern presently has an average rating of “Hold” and a consensus target price of $76.50.

Get Our Latest Research Report on SO

Southern Stock Performance

SO opened at $78.42 on Tuesday. Southern has a 52-week low of $61.56 and a 52-week high of $80.84. The company has a quick ratio of 0.65, a current ratio of 0.92 and a debt-to-equity ratio of 1.67. The company has a market cap of $85.74 billion, a P/E ratio of 20.26, a price-to-earnings-growth ratio of 2.80 and a beta of 0.51. The firm’s 50-day moving average price is $78.23 and its 200-day moving average price is $72.67.

Southern (NYSE:SOGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.13. Southern had a net margin of 16.74% and a return on equity of 12.07%. The firm had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $6.59 billion. During the same quarter in the prior year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, equities analysts anticipate that Southern will post 4 EPS for the current fiscal year.

Insider Activity

In other Southern news, CEO Kimberly S. Greene sold 9,126 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $75.04, for a total value of $684,815.04. Following the transaction, the chief executive officer now owns 121,504 shares in the company, valued at approximately $9,117,660.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Southern news, EVP Sloane N. Drake sold 12,000 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $77.61, for a total value of $931,320.00. Following the transaction, the executive vice president now owns 16,771 shares in the company, valued at approximately $1,301,597.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kimberly S. Greene sold 9,126 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $75.04, for a total value of $684,815.04. Following the completion of the sale, the chief executive officer now directly owns 121,504 shares of the company’s stock, valued at $9,117,660.16. The disclosure for this sale can be found here. Insiders have sold 28,026 shares of company stock worth $2,151,644 in the last quarter. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of Southern

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc increased its stake in shares of Southern by 31.8% in the 2nd quarter. Versant Capital Management Inc now owns 585 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 141 shares during the last quarter. Cornell Pochily Investment Advisors Inc. increased its position in shares of Southern by 0.9% during the 1st quarter. Cornell Pochily Investment Advisors Inc. now owns 16,141 shares of the utilities provider’s stock worth $1,158,000 after purchasing an additional 144 shares during the last quarter. Good Life Advisors LLC increased its position in shares of Southern by 0.8% during the 4th quarter. Good Life Advisors LLC now owns 19,956 shares of the utilities provider’s stock worth $1,399,000 after purchasing an additional 149 shares during the last quarter. Insight Inv LLC increased its position in shares of Southern by 1.4% during the 4th quarter. Insight Inv LLC now owns 10,530 shares of the utilities provider’s stock worth $738,000 after purchasing an additional 150 shares during the last quarter. Finally, Patten & Patten Inc. TN increased its position in shares of Southern by 0.7% during the 4th quarter. Patten & Patten Inc. TN now owns 20,736 shares of the utilities provider’s stock worth $1,454,000 after purchasing an additional 150 shares during the last quarter. 64.10% of the stock is owned by institutional investors and hedge funds.

About Southern

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The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.

Further Reading

Analyst Recommendations for Southern (NYSE:SO)

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