Southern (NYSE:SO) was downgraded by research analysts at Deutsche Bank from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Marketbeat.com reports. They currently have a $48.00 price target on the utilities provider’s stock. Deutsche Bank’s price target points to a potential upside of 3.60% from the stock’s current price.
SO has been the topic of several other reports. Morgan Stanley increased their price target on shares of Southern from $44.00 to $45.00 and gave the stock an “underweight” rating in a research report on Monday, April 16th. ValuEngine downgraded shares of Southern from a “hold” rating to a “sell” rating in a research report on Tuesday, May 8th. Zacks Investment Research upgraded shares of Southern from a “sell” rating to a “hold” rating in a research report on Tuesday, April 24th. TheStreet upgraded shares of Southern from a “c” rating to a “b-” rating in a research report on Monday, June 4th. Finally, SunTrust Banks restated a “hold” rating and set a $45.00 price objective on shares of Southern in a research report on Tuesday, March 6th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $48.90.
Southern opened at $46.33 on Tuesday, according to Marketbeat. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.55 and a current ratio of 0.70. Southern has a 1-year low of $42.38 and a 1-year high of $53.51. The company has a market capitalization of $47.14 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 3.57 and a beta of 0.03.
Southern (NYSE:SO) last released its quarterly earnings results on Wednesday, May 2nd. The utilities provider reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.04. Southern had a net margin of 4.88% and a return on equity of 12.97%. The business had revenue of $6.37 billion for the quarter, compared to the consensus estimate of $5.98 billion. During the same period last year, the firm earned $0.66 earnings per share. The company’s quarterly revenue was up 10.4% on a year-over-year basis. equities analysts anticipate that Southern will post 2.9 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of SO. First Republic Investment Management Inc. grew its stake in Southern by 4.0% during the fourth quarter. First Republic Investment Management Inc. now owns 40,593 shares of the utilities provider’s stock valued at $1,952,000 after acquiring an additional 1,556 shares in the last quarter. OppenheimerFunds Inc. grew its stake in Southern by 7.0% during the fourth quarter. OppenheimerFunds Inc. now owns 612,429 shares of the utilities provider’s stock valued at $29,452,000 after acquiring an additional 40,097 shares in the last quarter. Standard Life Aberdeen plc grew its stake in Southern by 2.8% during the fourth quarter. Standard Life Aberdeen plc now owns 420,643 shares of the utilities provider’s stock valued at $20,235,000 after acquiring an additional 11,397 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Southern during the fourth quarter valued at $1,147,000. Finally, BancorpSouth Bank purchased a new position in Southern during the fourth quarter valued at $944,000. 56.82% of the stock is owned by institutional investors.
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, New Jersey, Florida, Tennessee, and Maryland, as well as provides gas marketing services, wholesale gas services, and gas midstream operations.
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