Goldman Sachs Group reiterated their sell rating on shares of Southern (NYSE:SO) in a report released on Wednesday, Marketbeat Ratings reports.
Several other equities research analysts have also issued reports on SO. Jefferies Group reiterated a buy rating and set a $56.00 target price (up from $55.00) on shares of Southern in a research report on Tuesday, September 12th. Guggenheim upgraded shares of Southern from a neutral rating to a buy rating and lifted their target price for the company from $49.00 to $56.00 in a research report on Thursday, September 14th. Royal Bank of Canada upgraded shares of Southern from a sector perform rating to an outperform rating and set a $53.00 target price for the company in a research report on Friday, September 29th. Citigroup reiterated a sell rating and set a $44.00 target price (up from $43.00) on shares of Southern in a research report on Tuesday, October 3rd. Finally, Zacks Investment Research upgraded shares of Southern from a hold rating to a buy rating and set a $56.00 target price for the company in a research report on Tuesday, October 10th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. Southern currently has a consensus rating of Hold and an average price target of $51.20.
Shares of Southern (SO) traded down $0.41 during trading hours on Wednesday, reaching $44.84. 8,590,196 shares of the company traded hands, compared to its average volume of 5,738,723. The stock has a market capitalization of $45,414.17, a PE ratio of 80.07, a P/E/G ratio of 3.34 and a beta of 0.14. Southern has a 12 month low of $44.44 and a 12 month high of $53.51. The company has a current ratio of 0.73, a quick ratio of 0.57 and a debt-to-equity ratio of 1.73.
Southern (NYSE:SO) last announced its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.04. Southern had a net margin of 2.59% and a return on equity of 10.81%. The business had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.16 billion. During the same period in the previous year, the business posted $1.27 earnings per share. Southern’s revenue for the quarter was down 1.0% on a year-over-year basis. equities analysts anticipate that Southern will post 2.96 earnings per share for the current year.
In other news, insider Art P. Beattie sold 46,941 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $52.50, for a total value of $2,464,402.50. Following the completion of the sale, the insider now directly owns 59,494 shares in the company, valued at approximately $3,123,435. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ann P. Daiss sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $52.28, for a total transaction of $261,400.00. Following the completion of the sale, the insider now owns 7,394 shares of the company’s stock, valued at $386,558.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 128,662 shares of company stock valued at $6,772,438. Company insiders own 1.00% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Southern by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 71,053,604 shares of the utilities provider’s stock valued at $3,402,047,000 after buying an additional 2,295,466 shares during the last quarter. Franklin Resources Inc. raised its holdings in Southern by 3.6% during the 2nd quarter. Franklin Resources Inc. now owns 22,379,839 shares of the utilities provider’s stock valued at $1,071,547,000 after buying an additional 770,413 shares during the last quarter. Capital Research Global Investors raised its holdings in Southern by 25.3% during the 2nd quarter. Capital Research Global Investors now owns 14,940,226 shares of the utilities provider’s stock valued at $715,338,000 after buying an additional 3,015,226 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Southern by 3.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 9,378,775 shares of the utilities provider’s stock valued at $460,666,000 after buying an additional 352,722 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in Southern by 4.2% during the 3rd quarter. Legal & General Group Plc now owns 7,292,675 shares of the utilities provider’s stock valued at $358,339,000 after buying an additional 291,409 shares during the last quarter. Hedge funds and other institutional investors own 53.66% of the company’s stock.
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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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