Southern (NYSE:SO) Given New $77.00 Price Target at Wells Fargo & Company

Southern (NYSE:SO - Get Free Report) had its target price increased by equities research analysts at Wells Fargo & Company from $72.00 to $77.00 in a research report issued on Friday, Benzinga reports. The firm presently has an "equal weight" rating on the utilities provider's stock. Wells Fargo & Company's price objective points to a potential upside of 1.52% from the stock's current price.

SO has been the topic of a number of other reports. Scotiabank reduced their price target on shares of Southern from $80.00 to $77.00 and set a "sector outperform" rating on the stock in a research report on Monday, April 22nd. BMO Capital Markets reaffirmed an "outperform" rating and set a $76.00 price target (up from $72.00) on shares of Southern in a report on Monday, April 1st. UBS Group cut Southern from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $78.00 to $76.00 in a report on Thursday, April 4th. Mizuho lifted their price target on Southern from $73.00 to $76.00 and gave the company a "buy" rating in a report on Tuesday, April 2nd. Finally, Barclays increased their price objective on shares of Southern from $65.00 to $66.00 and gave the stock an "equal weight" rating in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Southern currently has an average rating of "Moderate Buy" and a consensus target price of $74.71.

Southern Stock Performance

NYSE:SO traded up $0.52 during mid-day trading on Friday, hitting $75.85. 4,469,453 shares of the company's stock traded hands, compared to its average volume of 4,739,155. The firm has a 50 day moving average of $70.22 and a two-hundred day moving average of $69.58. Southern has a 12 month low of $61.56 and a 12 month high of $75.98. The firm has a market capitalization of $83.03 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 4.67 and a beta of 0.48. The company has a current ratio of 0.77, a quick ratio of 0.56 and a debt-to-equity ratio of 1.62.

Southern (NYSE:SO - Get Free Report) last announced its earnings results on Thursday, May 2nd. The utilities provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.13. Southern had a return on equity of 11.40% and a net margin of 15.79%. The firm had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $6.59 billion. During the same quarter in the prior year, the company earned $0.79 EPS. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities analysts forecast that Southern will post 3.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Christopher Cummiskey sold 899 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $67.06, for a total transaction of $60,286.94. Following the completion of the transaction, the executive vice president now owns 22,502 shares in the company, valued at $1,508,984.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Southern news, EVP Christopher Cummiskey sold 899 shares of the firm's stock in a transaction that occurred 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 directly owns 22,502 shares in the company, valued at $1,508,984.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen E. Kuczynski sold 5,000 shares of the company's stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $68.92, for a total value of $344,600.00. Following the sale, the chief executive officer now owns 126,528 shares in the company, valued at approximately $8,720,309.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,025 shares of company stock worth $1,424,402. 0.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Southern

Hedge funds have recently added to or reduced their stakes in the business. Voisard Asset Management Group Inc. acquired a new position in shares of Southern in the fourth quarter valued at approximately $31,000. Scarborough Advisors LLC bought a new stake in Southern in the 4th quarter valued at $31,000. Versant Capital Management Inc increased its position in Southern by 62.0% during the 1st quarter. Versant Capital Management Inc now owns 444 shares of the utilities provider's stock worth $32,000 after buying an additional 170 shares during the period. BKM Wealth Management LLC acquired a new stake in shares of Southern during the fourth quarter worth $34,000. Finally, Valley National Advisers Inc. boosted its position in shares of Southern by 63.9% in the fourth quarter. Valley National Advisers Inc. now owns 526 shares of the utilities provider's stock valued at $36,000 after acquiring an additional 205 shares during the period. Institutional investors and hedge funds 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.

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