Southern Company (The) (NYSE:SO – Get Free Report) has earned an average rating of “Hold” from the twenty brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $100.08.
A number of research firms recently commented on SO. KeyCorp downgraded Southern from a “sector weight” rating to an “underweight” rating and set a $79.00 target price on the stock. in a research report on Thursday, July 23rd. BMO Capital Markets raised their target price on shares of Southern from $102.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, July 27th. Jefferies Financial Group set a $99.00 price target on shares of Southern in a research note on Monday, June 22nd. Mizuho set a $106.00 price target on shares of Southern in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. lifted their price target on Southern from $101.00 to $104.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th.
Check Out Our Latest Analysis on SO
Southern Trading Up 0.3%
Southern (NYSE:SO – Get Free Report) last issued its earnings results on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.12. The firm had revenue of $6.98 billion during the quarter, compared to analyst estimates of $7.23 billion. Southern had a net margin of 15.43% and a return on equity of 12.93%. Southern’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.79 earnings per share. Research analysts anticipate that Southern will post 4.59 EPS for the current fiscal year.
Southern Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Monday, August 17th were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Monday, August 17th. Southern’s payout ratio is presently 72.90%.
Institutional Trading of Southern
Several institutional investors have recently added to or reduced their stakes in SO. Marble Wealth LLC acquired a new stake in Southern during the fourth quarter worth about $4,443,000. OMERS ADMINISTRATION Corp lifted its holdings in Southern by 29.2% in the first quarter. OMERS ADMINISTRATION Corp now owns 50,628 shares of the utilities provider’s stock valued at $4,887,000 after acquiring an additional 11,448 shares during the period. Glenmede Trust Co. NA boosted its position in Southern by 19.1% in the 1st quarter. Glenmede Trust Co. NA now owns 92,289 shares of the utilities provider’s stock worth $8,908,000 after purchasing an additional 14,798 shares in the last quarter. Mystic Asset Management Inc. purchased a new stake in Southern in the 2nd quarter worth approximately $1,908,000. Finally, BIP Wealth LLC acquired a new stake in shares of Southern during the 2nd quarter worth approximately $3,059,000. Institutional investors own 64.10% of the company’s stock.
About Southern
Southern Company (NYSE:SO) is a diversified energy holding company headquartered in Atlanta, Georgia. Through its operating subsidiaries, the company generates, transmits, distributes and sells electricity, while also providing natural gas distribution and related energy services.
Southern’s regulated electric utilities include Alabama Power, Georgia Power and Mississippi Power, which serve residential, commercial and industrial customers across the southeastern United States. The company’s portfolio includes coal, natural gas, nuclear, hydroelectric and renewable generation assets.
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