Brokerages Set The Southern Company (NYSE:SO) Target Price at $89.79

The Southern Company (NYSE:SO) has received an average rating of “Hold” from the fifteen analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $89.79.

A number of equities research analysts recently weighed in on SO shares. Mizuho raised their price target on Southern from $83.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Morgan Stanley lowered their target price on Southern from $88.00 to $85.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Scotiabank upped their price target on shares of Southern from $96.00 to $98.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. BMO Capital Markets lowered their price objective on shares of Southern from $99.00 to $97.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, Guggenheim lowered shares of Southern from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd.

Southern Price Performance

Shares of Southern stock opened at $86.85 on Friday. Southern has a 1-year low of $65.80 and a 1-year high of $94.45. The firm’s 50-day moving average price is $83.33 and its two-hundred day moving average price is $86.77. The company has a current ratio of 0.91, a quick ratio of 0.66 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $95.16 billion, a price-to-earnings ratio of 20.20, a P/E/G ratio of 2.86 and a beta of 0.53.

Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Tuesday, February 18th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.88 dividend on an annualized basis and a yield of 3.32%. Southern’s dividend payout ratio is presently 66.98%.

Insiders Place Their Bets

In related news, CEO James Jeffrey Peoples sold 14,540 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $86.00, for a total transaction of $1,250,440.00. Following the sale, the chief executive officer now owns 13,236 shares of the company’s stock, valued at approximately $1,138,296. This trade represents a 52.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Martin Bernard Davis sold 1,170 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $85.90, for a total value of $100,503.00. Following the completion of the transaction, the executive vice president now directly owns 88,393 shares of the company’s stock, valued at approximately $7,592,958.70. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Southern

Institutional investors and hedge funds have recently modified their holdings of the business. Retirement Wealth Solutions LLC acquired a new position in shares of Southern in the fourth quarter valued at approximately $25,000. Frazier Financial Advisors LLC lifted its position in Southern by 168.1% in the 3rd quarter. Frazier Financial Advisors LLC now owns 311 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 195 shares in the last quarter. YANKCOM Partnership acquired a new position in Southern in the 4th quarter worth $26,000. Kohmann Bosshard Financial Services LLC bought a new position in Southern during the 4th quarter worth about $35,000. Finally, WFA Asset Management Corp raised its stake in shares of Southern by 84.9% in the 4th quarter. WFA Asset Management Corp now owns 429 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 197 shares during the period. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Southern Company Profile

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.