Seaport Res Ptn Research Analysts Lower Earnings Estimates for The Southern Company (NYSE:SO)

The Southern Company (NYSE:SO - Free Report) - Equities researchers at Seaport Res Ptn decreased their FY2024 EPS estimates for Southern in a report released on Wednesday, April 24th. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will post earnings of $4.03 per share for the year, down from their prior estimate of $4.05. The consensus estimate for Southern's current full-year earnings is $3.99 per share. Seaport Res Ptn also issued estimates for Southern's FY2025 earnings at $4.34 EPS and FY2026 earnings at $4.61 EPS.

Several other equities analysts have also recently issued reports on the company. UBS Group cut Southern from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $78.00 to $76.00 in a research note on Thursday, April 4th. BMO Capital Markets restated an "outperform" rating and set a $76.00 target price (up previously from $72.00) on shares of Southern in a research note on Monday, April 1st. Wells Fargo & Company decreased their target price on Southern from $75.00 to $72.00 and set an "equal weight" rating for the company in a research note on Friday, February 16th. Mizuho lifted their price target on Southern from $73.00 to $76.00 and gave the stock a "buy" rating in a research report on Tuesday, April 2nd. Finally, Bank of America lifted their price target on Southern from $70.00 to $73.00 and gave the stock a "neutral" rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $74.36.

Southern Trading Down 1.6 %

Shares of SO traded down $1.17 during midday trading on Friday, reaching $73.20. The company had a trading volume of 5,478,475 shares, compared to its average volume of 4,730,311. The firm has a 50 day simple moving average of $69.50 and a 200-day simple moving average of $69.31. The company has a quick ratio of 0.56, a current ratio of 0.77 and a debt-to-equity ratio of 1.62. The stock has a market cap of $80.13 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 4.63 and a beta of 0.49. Southern has a 1-year low of $61.56 and a 1-year high of $75.80.

Southern (NYSE:SO - Get Free Report) last issued its quarterly earnings results on Thursday, February 15th. The utilities provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.05. Southern had a net margin of 15.79% and a return on equity of 11.40%. The company had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the prior year, the company earned $0.26 EPS. Southern's quarterly revenue was down 14.2% on a year-over-year basis.

Southern Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Monday, May 20th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend is Friday, May 17th. This is an increase from Southern's previous quarterly dividend of $0.70. Southern's payout ratio is currently 77.14%.

Insider Transactions at Southern

In other Southern news, CEO Stephen E. Kuczynski sold 5,000 shares of the business's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $66.94, for a total value of $334,700.00. Following the completion of the sale, the chief executive officer now owns 129,552 shares of the company's stock, valued at $8,672,210.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Southern news, CEO Stephen E. Kuczynski sold 5,000 shares of the company's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $66.94, for a total value of $334,700.00. Following the completion of the transaction, the chief executive officer now owns 129,552 shares of the company's stock, valued at approximately $8,672,210.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Christopher Cummiskey sold 899 shares of the company's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $67.06, for a total value of $60,286.94. Following the completion of the transaction, the executive vice president now directly owns 22,502 shares of the company's stock, valued at approximately $1,508,984.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,899 shares of company stock valued at $739,587. Corporate insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On Southern

A number of hedge funds and other institutional investors have recently bought and sold shares of SO. Rockline Wealth Management LLC bought a new position in Southern in the fourth quarter valued at approximately $1,945,000. Zullo Investment Group Inc. lifted its holdings in Southern by 4.8% in the fourth quarter. Zullo Investment Group Inc. now owns 3,437 shares of the utilities provider's stock valued at $241,000 after buying an additional 157 shares during the period. Global Retirement Partners LLC lifted its holdings in Southern by 5.8% in the fourth quarter. Global Retirement Partners LLC now owns 14,856 shares of the utilities provider's stock valued at $1,045,000 after buying an additional 819 shares during the period. Apella Capital LLC acquired a new position in shares of Southern during the fourth quarter valued at about $301,000. Finally, Alpine Woods Capital Investors LLC acquired a new position in shares of Southern during the fourth quarter valued at about $3,795,000. Institutional investors own 64.10% of the company's stock.

About Southern

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.