Southern (SO) Given a $47.00 Price Target at SunTrust Banks
Southern (NYSE:SO) has been assigned a $47.00 target price by equities researchers at SunTrust Banks in a research report issued to clients and investors on Wednesday. The firm currently has a “hold” rating on the utilities provider’s stock. SunTrust Banks’ price target suggests a potential upside of 5.24% from the stock’s previous close.
SO has been the topic of a number of other reports. JPMorgan Chase & Co. assumed coverage on Southern in a research note on Friday, January 12th. They issued an “underweight” rating and a $46.00 price objective on the stock. Mizuho reissued a “buy” rating and issued a $52.00 price objective on shares of Southern in a research note on Tuesday, December 26th. Bank of America reissued an “underperform” rating and issued a $51.00 price objective on shares of Southern in a research note on Tuesday, October 24th. Royal Bank of Canada raised Southern from a “sector perform” rating to an “outperform” rating and set a $53.00 price objective on the stock in a research note on Friday, September 29th. Finally, Zacks Investment Research raised Southern from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Tuesday, December 12th. Six investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $51.07.
Shares of Southern (NYSE:SO) opened at $44.66 on Wednesday. The stock has a market capitalization of $44,820.00, a PE ratio of 79.75, a PEG ratio of 3.31 and a beta of 0.14. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.57 and a current ratio of 0.73. Southern has a 1-year low of $44.31 and a 1-year high of $53.51.
Southern (NYSE:SO) last issued its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. Southern had a return on equity of 10.81% and a net margin of 2.59%. The business had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.16 billion. During the same period last year, the business earned $1.27 EPS. The firm’s revenue was down 1.0% compared to the same quarter last year. sell-side analysts anticipate that Southern will post 2.96 earnings per share for the current year.
In other Southern news, VP James Y. Kerr II sold 25,000 shares of Southern stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $52.16, for a total value of $1,304,000.00. Following the transaction, the vice president now directly owns 26,000 shares of the company’s stock, valued at approximately $1,356,160. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ann P. Daiss sold 5,000 shares of Southern stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $52.28, for a total value of $261,400.00. Following the completion of the transaction, the insider now directly owns 7,394 shares in the company, valued at $386,558.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 128,662 shares of company stock worth $6,772,438. Company insiders own 0.74% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of SO. Chicago Partners Investment Group LLC bought a new stake in shares of Southern during the second quarter valued at approximately $100,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of Southern during the third quarter valued at approximately $105,000. Monroe Bank & Trust MI increased its position in shares of Southern by 17.9% during the second quarter. Monroe Bank & Trust MI now owns 2,300 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 350 shares during the period. AlphaMark Advisors LLC increased its position in shares of Southern by 0.6% during the second quarter. AlphaMark Advisors LLC now owns 2,363 shares of the utilities provider’s stock valued at $113,000 after purchasing an additional 14 shares during the period. Finally, Fieldpoint Private Securities LLC bought a new stake in shares of Southern during the third quarter valued at approximately $118,000. 53.68% of the stock is currently owned by institutional investors.
Southern Company Profile
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.
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