Southern (NYSE:SO) Price Target Raised to $70.00 at Credit Suisse Group

Southern (NYSE:SOGet Rating) had its price target increased by Credit Suisse Group from $60.00 to $70.00 in a report issued on Wednesday, The Fly reports.

Other equities research analysts also recently issued reports about the company. Guggenheim decreased their price objective on Southern from $80.00 to $69.00 in a research report on Monday, October 24th. BMO Capital Markets increased their price target on Southern from $68.00 to $74.00 and gave the stock a market perform rating in a report on Friday, December 16th. KeyCorp upgraded Southern from a sector weight rating to an overweight rating and set a $70.00 price target on the stock in a report on Thursday, October 20th. Mizuho reduced their price target on Southern from $73.00 to $72.00 and set a neutral rating on the stock in a report on Thursday, January 12th. Finally, Wolfe Research upgraded Southern from a peer perform rating to an outperform rating and set a $76.00 price target on the stock in a report on Monday, December 12th. Five research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Southern presently has an average rating of Hold and an average target price of $72.08.

Southern Price Performance

Shares of Southern stock opened at $67.72 on Wednesday. The stock has a 50 day moving average of $68.99 and a 200 day moving average of $71.31. Southern has a 12 month low of $60.71 and a 12 month high of $80.57. The firm has a market cap of $73.72 billion, a PE ratio of 21.43, a PEG ratio of 4.72 and a beta of 0.48. The company has a current ratio of 0.81, a quick ratio of 0.64 and a debt-to-equity ratio of 1.42.

Southern (NYSE:SOGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.02). Southern had a net margin of 12.52% and a return on equity of 12.21%. The company had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $6.75 billion. On average, research analysts expect that Southern will post 3.58 EPS for the current fiscal year.

Insider Buying and Selling at Southern

In other Southern news, EVP Martin Bernard Davis sold 3,050 shares of the stock in a transaction on Friday, October 28th. The stock was sold at an average price of $65.80, for a total transaction of $200,690.00. Following the sale, the executive vice president now owns 39,916 shares of the company’s stock, valued at approximately $2,626,472.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Stephen E. Kuczynski sold 14,546 shares of the firm’s stock in a transaction on Tuesday, January 10th. The stock was sold at an average price of $70.95, for a total value of $1,032,038.70. Following the completion of the sale, the chief executive officer now owns 120,786 shares of the company’s stock, valued at approximately $8,569,766.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Martin Bernard Davis sold 3,050 shares of the firm’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $65.80, for a total value of $200,690.00. Following the completion of the sale, the executive vice president now directly owns 39,916 shares of the company’s stock, valued at approximately $2,626,472.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,071 shares of company stock valued at $1,333,545. 0.37% of the stock is currently owned by corporate insiders.

Institutional Trading of Southern

A number of institutional investors have recently made changes to their positions in the business. PFG Advisors boosted its position in shares of Southern by 3.1% in the 2nd quarter. PFG Advisors now owns 4,712 shares of the utilities provider’s stock worth $336,000 after purchasing an additional 142 shares in the last quarter. SignalPoint Asset Management LLC raised its stake in Southern by 1.0% in the 2nd quarter. SignalPoint Asset Management LLC now owns 14,533 shares of the utilities provider’s stock worth $1,036,000 after acquiring an additional 144 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in Southern by 0.4% in the 2nd quarter. Pinnacle Associates Ltd. now owns 38,101 shares of the utilities provider’s stock worth $2,717,000 after acquiring an additional 144 shares during the last quarter. Burns J W & Co. Inc. NY raised its stake in Southern by 0.7% in the 4th quarter. Burns J W & Co. Inc. NY now owns 21,982 shares of the utilities provider’s stock worth $1,570,000 after acquiring an additional 145 shares during the last quarter. Finally, LCM Capital Management Inc raised its stake in Southern by 3.7% in the 2nd quarter. LCM Capital Management Inc now owns 4,137 shares of the utilities provider’s stock worth $295,000 after acquiring an additional 148 shares during the last quarter. Institutional investors and hedge funds own 61.78% of the company’s stock.

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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