KeyCorp Has Negative Forecast for Southern Q3 Earnings

Southern Company (The) (NYSE:SO) – Analysts at KeyCorp reduced their Q3 2026 earnings per share estimates for shares of Southern in a report released on Wednesday, July 22nd. KeyCorp analyst S. Karp now anticipates that the utilities provider will earn $1.66 per share for the quarter, down from their previous estimate of $1.71. KeyCorp currently has a “Underweight” rating and a $79.00 price target on the stock. The consensus estimate for Southern’s current full-year earnings is $4.58 per share. KeyCorp also issued estimates for Southern’s Q4 2026 earnings at $0.60 EPS, FY2028 earnings at $5.35 EPS, FY2029 earnings at $5.75 EPS and FY2030 earnings at $6.17 EPS.

SO has been the subject of several other reports. BMO Capital Markets decreased their price target on shares of Southern from $105.00 to $102.00 and set an “outperform” rating for the company in a report on Wednesday. Wall Street Zen upgraded shares of Southern from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Truist Financial cut their target price on shares of Southern from $103.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, May 29th. Morgan Stanley restated an “underweight” rating on shares of Southern in a research note on Wednesday. Finally, Mizuho set a $105.00 target price on Southern in a report on Friday, May 1st. Seven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $100.09.

Southern Stock Up 0.7%

Shares of NYSE:SO opened at $97.29 on Friday. The stock has a market capitalization of $109.67 billion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth ratio of 1.89 and a beta of 0.34. Southern has a 1-year low of $83.80 and a 1-year high of $100.83. The company’s fifty day moving average is $94.44 and its two-hundred day moving average is $93.69. 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) last announced its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $8.07 billion. During the same period last year, the business posted $1.23 earnings per share. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis.

Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 17th will be paid a $0.76 dividend. The ex-dividend date is Monday, August 17th. This represents a $3.04 annualized dividend and a dividend yield of 3.1%. Southern’s dividend payout ratio (DPR) is presently 77.35%.

Hedge Funds Weigh In On Southern

Hedge funds and other institutional investors have recently made changes to their positions in the business. Evergreen Advisors LLC bought a new stake in Southern during the 1st quarter valued at $25,000. Scarborough Advisors LLC acquired a new position in shares of Southern during the first quarter valued at $25,000. Ankerstar Wealth LLC acquired a new position in shares of Southern during the fourth quarter valued at $25,000. Cornerstone Financial Management LLC bought a new stake in shares of Southern during the fourth quarter valued at about $27,000. Finally, J.Safra Asset Management Corp bought a new stake in shares of Southern during the fourth quarter valued at about $27,000. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Southern

Here are the key news stories impacting Southern this week:

• Positive Sentiment: Southern’s Georgia Power subsidiary signed a long-term power agreement with OpenAI, which could support future electricity demand and reinforce the company’s role in powering AI data center growth. Article Title
• Positive Sentiment: The company announced it is joining President Trump’s Ratepayer Protection Pledge, highlighting a customer-first approach focused on rate stability, grid reliability, and responsible growth. Article Title
• Positive Sentiment: Some analysts remain constructive on near-term earnings, with Zacks saying Southern may have the right setup to beat upcoming results. Article Title
• Neutral Sentiment: KeyCorp raised its Q4 2026 EPS estimate to $0.60 from $0.55, but kept an Underweight rating and a $79 price target, so the update is mixed despite the higher forecast. Article Title
• Negative Sentiment: KeyCorp also trimmed estimates for Southern’s Q3 2026, FY2028, FY2029, and FY2030 earnings, which may weigh on sentiment even though the changes were modest. Article Title

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.