Southern (SO) Sets New 1-Year Low at $45.28

Southern Co (NYSE:SO) hit a new 52-week low on Thursday . The company traded as low as $45.28 and last traded at $45.96, with a volume of 7195800 shares. The stock had previously closed at $46.61.

A number of brokerages have recently weighed in on SO. JPMorgan Chase & Co. began coverage on shares of Southern in a report on Friday. They issued an “underweight” rating and a $46.00 price objective for the company. SunTrust Banks restated a “hold” rating and issued a $52.00 price objective on shares of Southern in a report on Friday, October 20th. Mizuho restated a “buy” rating and issued a $52.00 price objective on shares of Southern in a report on Tuesday, December 26th. Bank of America reaffirmed an “underperform” rating and issued a $51.00 target price on shares of Southern in a research note on Tuesday, October 24th. Finally, Royal Bank of Canada raised shares of Southern from a “sector perform” rating to an “outperform” rating and set a $53.00 target price on the stock in a research note on Friday, September 29th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. Southern has an average rating of “Hold” and a consensus target price of $51.20.

The company has a debt-to-equity ratio of 1.73, a current ratio of 0.73 and a quick ratio of 0.57. The company has a market cap of $45,000.00, a P/E ratio of 80.07, a P/E/G ratio of 3.45 and a beta of 0.14.

Southern (NYSE:SO) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 EPS for the quarter, topping 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 company had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.16 billion. During the same period in the previous year, the firm earned $1.27 earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. equities research analysts expect that Southern Co will post 2.96 EPS for the current fiscal year.

In other Southern news, EVP Christopher C. Womack sold 46,641 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $53.00, for a total transaction of $2,471,973.00. Following the transaction, the executive vice president now directly owns 56,799 shares of the company’s stock, valued at approximately $3,010,347. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ann P. Daiss sold 5,080 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $53.28, for a total transaction of $270,662.40. Following the transaction, the insider now directly owns 7,474 shares in the company, valued at $398,214.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 128,662 shares of company stock worth $6,772,438. Insiders own 0.74% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position 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 purchasing an additional 2,295,466 shares during the period. Franklin Resources Inc. grew its position in shares of Southern by 3.6% in the 2nd quarter. Franklin Resources Inc. now owns 22,379,839 shares of the utilities provider’s stock worth $1,071,547,000 after buying an additional 770,413 shares during the period. Capital Research Global Investors grew its position in shares of Southern by 25.3% in the 2nd quarter. Capital Research Global Investors now owns 14,940,226 shares of the utilities provider’s stock worth $715,338,000 after buying an additional 3,015,226 shares during the period. Ameriprise Financial Inc. grew its position in shares of Southern by 3.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 9,378,775 shares of the utilities provider’s stock worth $460,666,000 after buying an additional 352,722 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Southern by 4.2% in the 3rd quarter. Legal & General Group Plc now owns 7,292,675 shares of the utilities provider’s stock worth $358,339,000 after buying an additional 291,409 shares during the period. 53.66% of the stock is currently owned by institutional investors and hedge funds.

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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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