Southern (NYSE:SO) had its target price upped by Morgan Stanley from $44.00 to $45.00 in a research report sent to investors on Monday, April 16th. The firm currently has an underweight rating on the utilities provider’s stock.
A number of other analysts also recently weighed in on SO. Royal Bank of Canada reiterated a buy rating on shares of Southern in a research report on Friday, December 22nd. UBS began coverage on shares of Southern in a research report on Friday, February 2nd. They issued a neutral rating and a $46.00 price target on the stock. SunTrust Banks set a $47.00 price target on shares of Southern and gave the company a hold rating in a research report on Wednesday, January 17th. ValuEngine cut shares of Southern from a buy rating to a hold rating in a research note on Friday, February 2nd. Finally, JPMorgan Chase raised their price target on shares of Southern from $43.00 to $45.00 and gave the stock an underweight rating in a research note on Tuesday, April 10th. Seven research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $49.17.
Southern stock traded up $0.12 on Monday, hitting $45.34. The company’s stock had a trading volume of 624,469 shares, compared to its average volume of 6,918,877. Southern has a one year low of $42.38 and a one year high of $53.51. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.74 and a quick ratio of 0.59. The firm has a market capitalization of $45,588.95, a PE ratio of 15.01, a price-to-earnings-growth ratio of 3.46 and a beta of 0.02.
Southern (NYSE:SO) last released its earnings results on Wednesday, February 21st. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The company had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.17 billion. Southern had a net margin of 3.82% and a return on equity of 11.96%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 EPS. analysts predict that Southern will post 2.91 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 6th. Investors of record on Monday, May 21st will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, May 18th. This is a boost from Southern’s previous quarterly dividend of $0.58. This represents a $2.40 annualized dividend and a dividend yield of 5.29%. Southern’s dividend payout ratio (DPR) is currently 76.82%.
A number of institutional investors have recently made changes to their positions in the business. Taylor Hoffman Wealth Management acquired a new stake in shares of Southern during the fourth quarter worth $104,000. We Are One Seven LLC acquired a new stake in shares of Southern during the fourth quarter worth $106,000. Fieldpoint Private Securities LLC acquired a new stake in shares of Southern during the third quarter worth $118,000. Acropolis Investment Management LLC acquired a new stake in shares of Southern during the fourth quarter worth $134,000. Finally, Bank of Nova Scotia Trust Co. acquired a new stake in shares of Southern during the third quarter worth $147,000. 56.38% of the stock is owned by institutional investors and hedge funds.
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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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