BMO Capital Markets Lowers Southern (NYSE:SO) Price Target to $70.00

Southern (NYSE:SOGet Rating) had its price target reduced by stock analysts at BMO Capital Markets from $81.00 to $70.00 in a research note issued on Wednesday, The Fly reports. BMO Capital Markets’ target price would suggest a potential upside of 1.04% from the stock’s previous close.

SO has been the topic of several other research reports. Mizuho upped their target price on Southern from $67.00 to $76.00 and gave the company a “neutral” rating in a research report on Thursday, April 21st. Wells Fargo & Company increased their price target on Southern from $68.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 19th. StockNews.com started coverage on Southern in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Morgan Stanley cut their price target on Southern from $67.00 to $66.00 and set an “underweight” rating on the stock in a report on Monday, May 23rd. Finally, Credit Suisse Group began coverage on Southern in a report on Monday, April 25th. They issued an “underperform” rating and a $77.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $72.88.

NYSE SO opened at $69.28 on Wednesday. The business’s 50-day moving average price is $73.30 and its two-hundred day moving average price is $70.01. Southern has a 12 month low of $60.12 and a 12 month high of $77.24. The firm has a market capitalization of $73.61 billion, a PE ratio of 32.07, a price-to-earnings-growth ratio of 4.71 and a beta of 0.48. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.55.

Southern (NYSE:SOGet Rating) last released its quarterly earnings results on Thursday, April 28th. The utilities provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. Southern had a return on equity of 11.35% and a net margin of 10.09%. The firm had revenue of $6.60 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same quarter in the previous year, the company posted $0.98 EPS. The business’s revenue was up 11.7% on a year-over-year basis. As a group, analysts forecast that Southern will post 3.56 earnings per share for the current fiscal year.

In other Southern news, EVP Bryan D. Anderson sold 26,917 shares of the firm’s stock in a transaction on Friday, April 8th. The stock was sold at an average price of $75.96, for a total value of $2,044,615.32. Following the completion of the sale, the executive vice president now directly owns 30,660 shares of the company’s stock, valued at $2,328,933.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen E. Kuczynski sold 14,500 shares of the firm’s stock in a transaction on Friday, June 10th. The stock was sold at an average price of $72.08, for a total value of $1,045,160.00. Following the completion of the sale, the chief executive officer now directly owns 115,284 shares of the company’s stock, valued at $8,309,670.72. The disclosure for this sale can be found here. Insiders have sold 207,826 shares of company stock valued at $15,368,444 over the last ninety days. 0.37% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Southern by 1.0% in the first quarter. Vanguard Group Inc. now owns 91,645,885 shares of the utilities provider’s stock worth $6,645,242,000 after acquiring an additional 881,636 shares during the period. BlackRock Inc. boosted its holdings in shares of Southern by 0.7% in the fourth quarter. BlackRock Inc. now owns 73,889,061 shares of the utilities provider’s stock worth $5,067,311,000 after acquiring an additional 539,395 shares during the period. State Street Corp boosted its holdings in shares of Southern by 19.4% in the first quarter. State Street Corp now owns 62,701,855 shares of the utilities provider’s stock worth $4,546,512,000 after acquiring an additional 10,192,044 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Southern by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 16,564,622 shares of the utilities provider’s stock worth $1,133,435,000 after acquiring an additional 480,757 shares during the period. Finally, Capital Research Global Investors boosted its holdings in shares of Southern by 0.9% in the fourth quarter. Capital Research Global Investors now owns 11,938,813 shares of the utilities provider’s stock worth $818,764,000 after acquiring an additional 102,121 shares during the period. 60.58% of the stock is owned by hedge funds and other institutional investors.

Southern Company Profile (Get Rating)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services segments. 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, wholesale gas services, and gas pipeline investments operations.

Featured Stories

The Fly logo

Analyst Recommendations for Southern (NYSE:SO)

Receive News & Ratings for Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern and related companies with MarketBeat.com's FREE daily email newsletter.