KeyCorp Has Positive Estimate for Southern FY2029 Earnings

Key Points

• KeyCorp raised its FY2029 EPS estimate for Southern to $5.76 (from $5.52) and boosted FY2026–FY2030 forecasts while keeping a "Sector Weight" rating, versus the current consensus full‑year EPS of about $4.29.
• Southern declared a quarterly dividend of $0.74 (annualized $2.96) with an ex‑dividend date of Feb 17 and payment on Mar 6, implying roughly a 3.0% yield and a payout ratio near 75%.
• In the latest quarter Southern reported $0.55 EPS (missing by $0.01) while revenue jumped 10.1% year‑over‑year to $6.98 billion, showing top‑line strength despite the slight EPS miss.

Southern Company (The) (NYSE:SO - Free Report) - Equities researchers at KeyCorp boosted their FY2029 earnings per share (EPS) estimates for Southern in a research report issued on Tuesday, March 3rd. KeyCorp analyst S. Karp now expects that the utilities provider will post earnings of $5.76 per share for the year, up from their previous forecast of $5.52. KeyCorp has a "Sector Weight" rating on the stock. The consensus estimate for Southern's current full-year earnings is $4.29 per share.

A number of other brokerages have also recently weighed in on SO. Jefferies Financial Group reissued a "hold" rating and set a $102.00 price objective on shares of Southern in a report on Monday, February 23rd. Weiss Ratings restated a "buy (b)" rating on shares of Southern in a report on Wednesday, January 21st. Mizuho set a $104.00 target price on shares of Southern and gave the company an "outperform" rating in a report on Friday, February 20th. Truist Financial set a $103.00 price target on shares of Southern in a research note on Friday, February 20th. Finally, Wall Street Zen downgraded Southern from a "hold" rating to a "sell" rating in a report on Saturday, December 6th. Six investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Southern currently has an average rating of "Hold" and a consensus price target of $98.08.

Southern Trading Down 0.5%

NYSE SO opened at $97.19 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.65 and a debt-to-equity ratio of 1.69. The stock's 50-day simple moving average is $90.60 and its two-hundred day simple moving average is $91.46. Southern has a twelve month low of $83.09 and a twelve month high of $100.83. The company has a market capitalization of $107.02 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 2.95 and a beta of 0.44.

Southern (NYSE:SO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 18th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.01). The business had revenue of $6.98 billion for the quarter, compared to the consensus estimate of $6.41 billion. Southern had a net margin of 14.69% and a return on equity of 12.52%. The business's revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 EPS.

Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.74 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.96 dividend on an annualized basis and a yield of 3.0%. Southern's dividend payout ratio is presently 75.32%.

Hedge Funds Weigh In On Southern

Hedge funds have recently made changes to their positions in the business. Bayban bought a new stake in Southern in the fourth quarter valued at $78,000. Rehmann Capital Advisory Group boosted its stake in shares of Southern by 21.6% during the 4th quarter. Rehmann Capital Advisory Group now owns 12,391 shares of the utilities provider's stock valued at $1,081,000 after purchasing an additional 2,203 shares in the last quarter. SHP Wealth Management purchased a new position in shares of Southern during the fourth quarter valued at about $516,000. Tulsa Wealth Advisors INC bought a new position in Southern in the fourth quarter worth about $268,000. Finally, CFO Capital Management LLC purchased a new stake in Southern in the fourth quarter worth about $1,117,000. 64.10% of the stock is owned by hedge funds and other institutional investors.

Key Southern News

Here are the key news stories impacting Southern this week:

• Positive Sentiment: Evercore upgraded SO from "in-line" to "outperform" and set a $111 price target (about 14.2% above the cited $97.19 reference). The upgrade signals improved near-term sentiment from a major research shop and is a clear short-term catalyst for share strength. Street Insider
• Positive Sentiment: KeyCorp raised its EPS forecasts across multiple future years (FY2026–FY2030), including FY2026 to $4.58, FY2027 to $4.93, FY2028 to $5.36, FY2029 to $5.76 and FY2030 to $6.18 — upgrades that imply stronger longer-term earnings growth versus prior guidance and vs. the current consensus FY figure cited (~$4.29). KeyCorp retained a "Sector Weight" rating, so the analyst team is raising numbers but remaining measured; the net effect is supportive for the stock because higher forward EPS can justify higher valuation and the new price-target-based interest from other shops. MarketBeat
• Neutral Sentiment: Mississippi Power (a Southern subsidiary) named Fredie Carmichael VP of Customer Solutions and Corporate Communications effective March 16. This is an operational/HR announcement with limited near-term financial impact. PR Newswire

Southern Company Profile

Southern Company NYSE: SO is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern's principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.

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