Southern (NYSE:SO) Given New $76.00 Price Target at Mizuho

Southern (NYSE:SOGet Rating) had its price objective raised by research analysts at Mizuho from $67.00 to $76.00 in a research note issued to investors on Thursday, The Fly reports. Mizuho’s target price points to a potential downside of 0.65% from the stock’s previous close.

SO has been the subject of a number of other research reports. UBS Group lowered Southern from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 5th. Morgan Stanley raised their target price on shares of Southern from $63.00 to $68.00 and gave the stock an “underweight” rating in a research note on Wednesday. StockNews.com began coverage on shares of Southern in a report on Thursday, March 31st. They issued a “hold” rating for the company. Bank of America downgraded shares of Southern from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $75.00 to $71.00 in a research note on Monday, February 7th. Finally, Wells Fargo & Company boosted their price target on shares of Southern from $68.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Southern has an average rating of “Hold” and a consensus target price of $73.44.

Shares of NYSE:SO opened at $76.50 on Thursday. The stock has a market capitalization of $81.11 billion, a price-to-earnings ratio of 33.85, a PEG ratio of 5.34 and a beta of 0.52. The stock has a fifty day simple moving average of $69.60 and a two-hundred day simple moving average of $66.69. Southern has a 12-month low of $60.12 and a 12-month high of $77.08. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 1.55.

Southern (NYSE:SOGet Rating) last posted its earnings results on Thursday, February 17th. The utilities provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $4.75 billion. Southern had a return on equity of 11.02% and a net margin of 10.42%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 earnings per share. As a group, equities research analysts predict that Southern will post 3.56 EPS for the current year.

In other Southern news, CEO Stephen E. Kuczynski sold 14,500 shares of the stock in a transaction that occurred on Friday, April 8th. The stock was sold at an average price of $75.97, for a total transaction of $1,101,565.00. Following the transaction, the chief executive officer now directly owns 115,284 shares in the company, valued at approximately $8,758,125.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher C. Womack sold 4,746 shares of the stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $65.07, for a total value of $308,822.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 332,516 shares of company stock valued at $23,808,569. Company insiders own 0.43% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. StrategIQ Financial Group LLC boosted its stake in Southern by 1.3% in the 1st quarter. StrategIQ Financial Group LLC now owns 16,598 shares of the utilities provider’s stock worth $1,204,000 after purchasing an additional 215 shares during the period. BCK Partners Inc. bought a new stake in Southern in the 1st quarter worth approximately $239,000. Lindbrook Capital LLC increased its stake in Southern by 14.0% in the 1st quarter. Lindbrook Capital LLC now owns 1,663 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 204 shares during the period. Destiny Wealth Partners LLC increased its stake in Southern by 11.4% in the 1st quarter. Destiny Wealth Partners LLC now owns 4,501 shares of the utilities provider’s stock worth $326,000 after purchasing an additional 459 shares during the period. Finally, Riverview Trust Co increased its stake in Southern by 312.9% in the 1st quarter. Riverview Trust Co now owns 801 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 607 shares during the period. 59.24% of the stock is owned by institutional investors.

About Southern (Get Rating)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services segments. 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, wholesale gas services, and gas pipeline investments operations.

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