Southern (NYSE:SO) Sets New 12-Month Low - Here's What Happened

Key Points

• Southern shares hit a new 52-week low, falling to $81.91 and trading below both their 50-day ($90.15) and 200-day ($93.13) moving averages.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $100.08; Morgan Stanley recently lowered its target to $85 and rated the stock underweight.
• Southern exceeded quarterly EPS expectations ($1.13 versus $1.01) despite slightly lower-than-expected revenue, and pays a quarterly dividend of $0.76, representing a 3.7% annualized yield.

Shares of Southern Company (The) (NYSE:SO - Get Free Report) hit a new 52-week low on Tuesday. The stock traded as low as $81.91 and last traded at $82.3150, with a volume of 5048780 shares traded. The stock had previously closed at $82.88.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SO. JPMorgan Chase & Co. lifted their price target on shares of Southern from $101.00 to $104.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. Jefferies Financial Group set a $99.00 price objective on shares of Southern in a research report on Monday, June 22nd. Barclays decreased their price objective on shares of Southern from $99.00 to $98.00 and set an "equal weight" rating on the stock in a report on Thursday, June 18th. Weiss Ratings reiterated a "buy (b)" rating on shares of Southern in a research report on Wednesday, July 29th. Finally, Morgan Stanley reduced their price target on shares of Southern from $89.00 to $85.00 and set an "underweight" rating for the company in a research report on Friday, September 18th. Seven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $100.08.

Southern Price Performance

The company has a 50-day moving average of $90.15 and a 200 day moving average of $93.13. 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 stock has a market capitalization of $94.69 billion, a PE ratio of 19.74, a PEG ratio of 2.21 and a beta of 0.33.

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

Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Monday, August 17th were issued a $0.76 dividend. The ex-dividend date was Monday, August 17th. This represents a $3.04 dividend on an annualized basis and a yield of 3.7%. Southern's dividend payout ratio is presently 72.90%.

Institutional Trading of Southern

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Evergreen Advisors LLC purchased a new stake in Southern during the 1st quarter worth about $25,000. Scarborough Advisors LLC acquired a new position in shares of Southern during the first quarter worth about $25,000. Bullseye Investment Management LLC purchased a new stake in shares of Southern during the second quarter worth approximately $26,000. Cornerstone Financial Management LLC acquired a new stake in Southern in the fourth quarter valued at approximately $27,000. Finally, J.Safra Asset Management Corp purchased a new position in Southern in the second quarter worth approximately $30,000. Hedge funds and other institutional investors own 64.10% of the company's stock.

Southern Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.