JPMorgan Chase & Co. Issues Positive Forecast for Southern (NYSE:SO) Stock Price

Southern (NYSE:SO) had its price target boosted by JPMorgan Chase & Co. from $101.00 to $104.00 in a research report report published on Thursday,Benzinga reports. They currently have a neutral rating on the utilities provider’s stock.

Several other research analysts also recently weighed in on the company. Truist Financial cut their price target on Southern from $103.00 to $100.00 and set a “hold” rating for the company in a report on Friday, May 29th. Raymond James Financial restated an “outperform” rating and set a $104.00 price objective on shares of Southern in a report on Friday, May 1st. Morgan Stanley reaffirmed an “underweight” rating and issued a $89.00 price objective on shares of Southern in a research report on Wednesday, June 24th. Wall Street Zen upgraded Southern from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Seaport Research Partners cut Southern from a “buy” rating to a “neutral” rating in a report on Monday, April 20th. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Southern presently has a consensus rating of “Hold” and an average target price of $99.91.

Southern Trading Up 1.4%

Shares of SO stock opened at $95.95 on Thursday. Southern has a fifty-two week low of $83.80 and a fifty-two week high of $100.83. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 1.68. The business has a fifty day simple moving average of $94.12 and a 200-day simple moving average of $93.39. The stock has a market cap of $108.16 billion, a P/E ratio of 24.41, a P/E/G ratio of 2.86 and a beta of 0.34.

Southern (NYSE:SO) last posted its earnings results on Wednesday, April 29th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.11. Southern had a return on equity of 12.64% and a net margin of 14.46%.The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.07 billion. During the same quarter in the prior year, the company earned $1.23 EPS. Southern’s revenue was up 8.0% on a year-over-year basis. On average, analysts forecast that Southern will post 4.57 earnings per share for the current fiscal year.

Southern Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Monday, May 18th were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Monday, May 18th. This is an increase from Southern’s previous quarterly dividend of $0.74. Southern’s dividend payout ratio (DPR) is 77.35%.

Hedge Funds Weigh In On Southern

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