UBS Group initiated coverage on shares of Southern (NYSE:SO) in a report issued on Friday, www.benzinga.com reports. The firm issued a neutral rating and a $46.00 price objective on the utilities provider’s stock.
Other analysts have also recently issued reports about the stock. Royal Bank of Canada restated a buy rating on shares of Southern in a report on Friday, December 22nd. ValuEngine cut shares of Southern from a buy rating to a hold rating in a report on Friday. SunTrust Banks set a $49.00 price target on shares of Southern and gave the stock a hold rating in a report on Wednesday, January 3rd. Mizuho restated a buy rating and set a $55.00 price target on shares of Southern in a report on Friday, December 8th. Finally, Bank of America restated an underperform rating and set a $51.00 price target on shares of Southern in a report on Tuesday, October 24th. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $50.43.
Shares of Southern (NYSE SO) opened at $43.72 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.57 and a debt-to-equity ratio of 1.73. The company has a market cap of $43,880.00, a P/E ratio of 78.07, a P/E/G ratio of 3.28 and a beta of 0.03. Southern has a fifty-two week low of $43.16 and a fifty-two week high of $53.51.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Tuesday, February 20th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 5.31%. The ex-dividend date of this dividend is Friday, February 16th. Southern’s payout ratio is presently 414.29%.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC raised its position in shares of Southern by 3,580.1% in the second quarter. Janus Henderson Group PLC now owns 4,673,498 shares of the utilities provider’s stock valued at $223,766,000 after purchasing an additional 4,546,503 shares during the period. Capital Research Global Investors raised its position in shares of Southern by 25.3% in the second quarter. Capital Research Global Investors now owns 14,940,226 shares of the utilities provider’s stock valued at $715,338,000 after purchasing an additional 3,015,226 shares during the period. Vanguard Group Inc. raised its position in shares of Southern by 3.3% in the second 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. Commonwealth Bank of Australia raised its position in shares of Southern by 1,565.3% in the third quarter. Commonwealth Bank of Australia now owns 1,738,380 shares of the utilities provider’s stock valued at $59,048,000 after purchasing an additional 1,633,990 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of Southern by 3.6% in the second quarter. Franklin Resources Inc. now owns 22,379,839 shares of the utilities provider’s stock valued at $1,071,547,000 after purchasing an additional 770,413 shares during the period. 53.64% of the stock is currently owned by hedge funds and other 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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