Southern (NYSE:SO) Price Target Raised to $99.00 at Barclays

Key Points

• Barclays raised its price target on Southern from $88 to $99 and kept an "equal weight" rating, a target that implies only about a 1.21% upside from the stock's current price.
• The analyst consensus is a Hold with an average price target of $98.69, based on 6 Buys, 12 Holds and 1 Sell.
• Company insiders have been selling shares: EVP Christopher Cummiskey sold 6,669 shares and CEO Kimberly S. Greene sold 25,000 shares, trimming their holdings by roughly 17.8% and 19.4%, respectively.

Southern (NYSE:SO - Get Free Report) had its price objective increased by equities researchers at Barclays from $88.00 to $99.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the utilities provider's stock. Barclays's target price indicates a potential upside of 1.21% from the stock's current price.

A number of other equities research analysts have also issued reports on the company. Wells Fargo & Company set a $96.00 price target on Southern and gave the stock an "equal weight" rating in a research note on Friday, February 20th. Jefferies Financial Group reissued a "hold" rating and set a $102.00 price target on shares of Southern in a research note on Monday, February 23rd. Scotiabank raised their price target on Southern from $101.00 to $103.00 and gave the stock a "sector perform" rating in a research note on Friday, February 20th. BMO Capital Markets reissued an "outperform" rating on shares of Southern in a research note on Friday, February 20th. Finally, UBS Group decreased their price target on Southern from $98.00 to $94.00 and set a "neutral" rating for the company in a research note on Wednesday, December 17th. Six investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Southern has an average rating of "Hold" and a consensus price target of $98.69.

Southern Trading Up 0.2%

Shares of Southern stock traded up $0.22 on Friday, reaching $97.81. The company had a trading volume of 869,084 shares, compared to its average volume of 5,911,682. Southern has a 1 year low of $83.09 and a 1 year high of $100.83. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.65 and a quick ratio of 0.47. The firm has a market cap of $110.36 billion, a price-to-earnings ratio of 24.89, a P/E/G ratio of 2.93 and a beta of 0.41. The firm's 50-day moving average price is $94.97 and its two-hundred day moving average price is $92.17.

Southern (NYSE:SO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 18th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.01). Southern had a return on equity of 12.52% and a net margin of 14.69%.The business had revenue of $6.98 billion for the quarter, compared to the consensus estimate of $6.41 billion. During the same period in the prior year, the business posted $0.50 earnings per share. Southern's revenue was up 10.1% on a year-over-year basis. As a group, research analysts predict that Southern will post 4.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Christopher Cummiskey sold 6,669 shares of Southern stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $96.55, for a total value of $643,891.95. Following the transaction, the executive vice president directly owned 30,800 shares in the company, valued at approximately $2,973,740. This trade represents a 17.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kimberly S. Greene sold 25,000 shares of Southern stock in a transaction on Monday, March 30th. The shares were sold at an average price of $96.67, for a total value of $2,416,750.00. Following the completion of the transaction, the chief executive officer owned 103,602 shares in the company, valued at $10,015,205.34. This represents a 19.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.16% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gladstone Institutional Advisory LLC grew its stake in Southern by 0.5% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 21,461 shares of the utilities provider's stock valued at $2,034,000 after purchasing an additional 105 shares during the last quarter. Venturi Wealth Management LLC grew its stake in Southern by 0.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 15,230 shares of the utilities provider's stock valued at $1,443,000 after purchasing an additional 105 shares during the last quarter. Highline Wealth Partners LLC grew its stake in Southern by 0.7% during the 3rd quarter. Highline Wealth Partners LLC now owns 15,667 shares of the utilities provider's stock valued at $1,485,000 after purchasing an additional 106 shares during the last quarter. Sara Bay Financial grew its stake in Southern by 2.7% during the 3rd quarter. Sara Bay Financial now owns 4,133 shares of the utilities provider's stock valued at $392,000 after purchasing an additional 108 shares during the last quarter. Finally, Cornerstone Wealth Management LLC lifted its holdings in shares of Southern by 2.1% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 5,155 shares of the utilities provider's stock valued at $489,000 after buying an additional 108 shares during the period. 64.10% of the stock is currently owned by hedge funds and other institutional investors.

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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