Southern (NYSE:SO) Price Target Raised to $104.00

Key Points

• JPMorgan Chase & Co. raised Southern’s price target from $101 to $104 while keeping a neutral rating, implying about 8.6% upside from the prior close.
• Analyst sentiment on Southern remains mixed, with an average Hold rating and a consensus price target of $99.91 across Wall Street coverage.
• Southern’s recent earnings were solid, as the utility reported $1.32 EPS versus expectations of $1.21 and revenue of $8.40 billion, both topping estimates.

Southern (NYSE:SO - Get Free Report) had its price target boosted by research analysts at JPMorgan Chase & Co. from $101.00 to $104.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the utilities provider's stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 8.59% from the company's previous close.

SO has been the subject of several other reports. Jefferies Financial Group set a $99.00 target price on Southern in a research note on Monday, June 22nd. Barclays cut their price target on Southern from $99.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Thursday, June 18th. Seaport Research Partners lowered Southern from a "buy" rating to a "neutral" rating in a research report on Monday, April 20th. Morgan Stanley reiterated an "underweight" rating and issued a $89.00 price objective on shares of Southern in a research report on Wednesday, June 24th. Finally, Mizuho set a $105.00 target price on shares of Southern in a research report on Friday, May 1st. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $99.91.

Southern Price Performance

Shares of NYSE SO traded up $1.17 during trading on Thursday, reaching $95.77. The company had a trading volume of 1,491,717 shares, compared to its average volume of 5,785,013. Southern has a 52 week low of $83.80 and a 52 week high of $100.83. The business's 50 day moving average price is $94.05 and its 200-day moving average price is $93.33. The stock has a market cap of $107.96 billion, a PE ratio of 24.35, a PEG ratio of 2.90 and a beta of 0.34. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.65.

Southern (NYSE:SO - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The utilities provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.21 by $0.11. Southern had a net margin of 14.46% and a return on equity of 12.64%. The business had revenue of $8.40 billion for the quarter, compared to analysts' expectations of $8.07 billion. During the same period in the prior year, the firm earned $1.23 earnings per share. Southern's revenue was up 8.0% compared to the same quarter last year. Analysts expect that Southern will post 4.57 earnings per share for the current year.

Hedge Funds Weigh In On Southern

A number of institutional investors have recently bought and sold shares of the business. Evergreen Advisors LLC bought a new stake in Southern in the 1st quarter valued at about $25,000. Scarborough Advisors LLC bought a new stake in shares of Southern in the first quarter valued at approximately $25,000. Ankerstar Wealth LLC acquired a new stake in Southern during the fourth quarter worth approximately $25,000. Cornerstone Financial Management LLC bought a new position in Southern during the 4th quarter worth $27,000. Finally, J.Safra Asset Management Corp acquired a new position in Southern in the 4th quarter valued at $27,000. Institutional investors and hedge funds own 64.10% of the company's stock.

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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