Southern (NYSE:SO) Stock Price Target Lowered at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered Southern’s price target from $101 to $94 while maintaining a “neutral” rating, implying approximately 6.41% upside from the prior close.
• Analyst sentiment remains mixed but leans toward “Hold”: seven analysts rate the stock Buy, eleven Hold, and two Sell, with an average price target of $99.25.
• Southern shares traded at $88.33, while the company’s latest quarterly results beat EPS expectations ($1.13 versus $1.01) despite revenue falling short of forecasts.

Southern (NYSE:SO - Get Free Report) had its price target decreased by JPMorgan Chase & Co. from $101.00 to $94.00 in a report released on Tuesday, Benzinga reports. The firm currently has a "neutral" rating on the utilities provider's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 6.41% from the stock's previous close.

SO has been the topic of several other research reports. Mizuho set a $106.00 price target on shares of Southern in a research report on Friday, July 31st. KeyCorp dropped their price objective on shares of Southern from $79.00 to $74.00 and set an "underweight" rating for the company in a report on Tuesday. BMO Capital Markets lifted their target price on shares of Southern from $102.00 to $104.00 and gave the company an "outperform" rating in a research note on Monday, July 27th. Wall Street Zen raised Southern from a "sell" rating to a "hold" rating in a report on Saturday, September 19th. Finally, Barclays decreased their price target on Southern from $99.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Thursday, June 18th. Seven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $99.25.

Southern Stock Performance

SO traded up $1.29 during trading on Tuesday, reaching $88.33. 3,952,626 shares of the company's stock were exchanged, compared to its average volume of 5,801,007. Southern has a fifty-two week low of $81.69 and a fifty-two week high of $100.83. The company has a market capitalization of $101.62 billion, a P/E ratio of 21.17, a PEG ratio of 2.29 and a beta of 0.31. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 1.62. The business has a 50 day moving average price of $87.99 and a 200 day moving average price of $92.31.

Southern (NYSE:SO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.12. Southern had a net margin of 15.43% and a return on equity of 12.93%. The firm had revenue of $6.98 billion during the quarter, compared to analysts' expectations of $7.23 billion. During the same quarter last year, the company earned $0.79 earnings per share. The company's revenue for the quarter was up .1% compared to the same quarter last year. As a group, analysts predict that Southern will post 4.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SO. Evergreen Advisors LLC bought a new stake in shares of Southern during the 1st quarter worth $25,000. Scarborough Advisors LLC acquired a new stake in Southern in the first quarter valued at about $25,000. Bullseye Investment Management LLC bought a new position in Southern in the second quarter valued at about $26,000. J.Safra Asset Management Corp bought a new position in Southern in the second quarter valued at about $30,000. Finally, Frazier Financial Advisors LLC acquired a new position in Southern during the second quarter worth about $31,000. 64.10% of the stock is currently owned by institutional investors.

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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