Southern (NYSE:SO) Price Target Raised to $73.00 at Bank of America

Southern (NYSE:SO - Get Free Report) had its target price increased by equities research analysts at Bank of America from $70.00 to $73.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a "neutral" rating on the utilities provider's stock. Bank of America's price objective would indicate a potential downside of 0.35% from the company's previous close.

Several other analysts have also issued reports on the stock. Wells Fargo & Company cut their target price on shares of Southern from $75.00 to $72.00 and set an "equal weight" rating for the company in a research report on Friday, February 16th. Royal Bank of Canada restated an "outperform" rating and set a $80.00 target price on shares of Southern in a research report on Wednesday, February 21st. Scotiabank dropped their price target on shares of Southern from $80.00 to $77.00 and set a "sector outperform" rating for the company in a research report on Monday. UBS Group lowered shares of Southern from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $78.00 to $76.00 in a research report on Thursday, April 4th. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $76.00 price target (up from $72.00) on shares of Southern in a research report on Monday, April 1st. One equities research 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 MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $74.36.

Southern Stock Performance

Shares of SO stock traded up $0.28 during trading hours on Tuesday, reaching $73.26. The company had a trading volume of 6,054,387 shares, compared to its average volume of 4,689,873. The business has a fifty day moving average price of $69.11 and a 200-day moving average price of $69.18. Southern has a one year low of $61.56 and a one year high of $75.80. The firm has a market cap of $80.19 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 4.51 and a beta of 0.49. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.56 and a current ratio of 0.77.

Southern (NYSE:SO - Get Free Report) last announced its earnings results on Thursday, February 15th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.05. The company had revenue of $6.05 billion during the quarter, compared to analyst estimates of $6.90 billion. Southern had a net margin of 15.79% and a return on equity of 11.40%. The firm's quarterly revenue was down 14.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.26 earnings per share. Sell-side analysts predict that Southern will post 4 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Southern

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DAVENPORT & Co LLC raised its stake in shares of Southern by 0.7% during the 3rd quarter. DAVENPORT & Co LLC now owns 112,331 shares of the utilities provider's stock valued at $7,271,000 after buying an additional 794 shares during the last quarter. Wagner Wealth Management LLC raised its stake in shares of Southern by 9.1% during the 3rd quarter. Wagner Wealth Management LLC now owns 8,923 shares of the utilities provider's stock valued at $577,000 after buying an additional 741 shares during the last quarter. Strategic Blueprint LLC raised its stake in shares of Southern by 5.4% during the 3rd quarter. Strategic Blueprint LLC now owns 23,783 shares of the utilities provider's stock valued at $1,539,000 after buying an additional 1,212 shares during the last quarter. Caprock Group LLC raised its stake in shares of Southern by 1.1% during the 3rd quarter. Caprock Group LLC now owns 16,688 shares of the utilities provider's stock valued at $1,080,000 after buying an additional 177 shares during the last quarter. Finally, Miller Howard Investments Inc. NY grew its position in shares of Southern by 19.9% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 43,904 shares of the utilities provider's stock valued at $2,841,000 after acquiring an additional 7,273 shares during the period. Hedge funds and other institutional investors own 64.10% of the company's stock.

Southern Company Profile

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.