Southern (SO) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Southern (NYSE:SO) in a research note issued on Friday, The Fly reports. The firm set an “underweight” rating on the utilities provider’s stock.

Other analysts have also recently issued research reports about the company. Royal Bank of Canada reaffirmed a “buy” rating on shares of Southern in a research report on Friday, December 22nd. Goldman Sachs Group reaffirmed a “sell” rating on shares of Southern in a research report on Wednesday. SunTrust Banks set a $49.00 target price on Southern and gave the stock a “hold” rating in a research report on Wednesday, January 3rd. Mizuho reaffirmed a “buy” rating and issued a $55.00 target price on shares of Southern in a research report on Friday, December 8th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $51.00 target price on shares of Southern in a research report on Tuesday, October 24th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $49.25.

Shares of Southern (NYSE:SO) opened at $45.25 on Friday. The company has a market capitalization of $45,410.00, a price-to-earnings ratio of 80.80, a PEG ratio of 3.45 and a beta of 0.14. The company has a quick ratio of 0.57, a current ratio of 0.73 and a debt-to-equity ratio of 1.73. Southern has a 12-month low of $45.08 and a 12-month high of $53.51.

Southern (NYSE:SO) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The business had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.16 billion. Southern had a return on equity of 10.81% and a net margin of 2.59%. Southern’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.27 earnings per share. research analysts expect that Southern will post 2.96 EPS for the current year.

In related news, insider Ann P. Daiss sold 5,000 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $52.28, for a total transaction of $261,400.00. Following the completion of the sale, the insider now directly owns 7,394 shares in the company, valued at $386,558.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ann P. Daiss sold 5,080 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $53.28, for a total value of $270,662.40. Following the sale, the insider now owns 7,474 shares of the company’s stock, valued at $398,214.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 128,662 shares of company stock valued at $6,772,438. 0.74% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the stock. Janus Henderson Group PLC raised its holdings in Southern by 3,580.1% during the second quarter. Janus Henderson Group PLC now owns 4,673,498 shares of the utilities provider’s stock valued at $223,766,000 after buying an additional 4,546,503 shares in the last quarter. Capital Research Global Investors raised its holdings in Southern by 25.3% during the second quarter. Capital Research Global Investors now owns 14,940,226 shares of the utilities provider’s stock valued at $715,338,000 after buying an additional 3,015,226 shares in the last quarter. Vanguard Group Inc. raised its holdings in Southern by 3.3% during the second quarter. Vanguard Group Inc. now owns 71,053,604 shares of the utilities provider’s stock valued at $3,402,047,000 after buying an additional 2,295,466 shares in the last quarter. Commonwealth Bank of Australia raised its holdings in Southern by 1,565.3% during the third quarter. Commonwealth Bank of Australia now owns 1,738,380 shares of the utilities provider’s stock valued at $59,048,000 after buying an additional 1,633,990 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Southern by 3.6% during the second quarter. Franklin Resources Inc. now owns 22,379,839 shares of the utilities provider’s stock valued at $1,071,547,000 after buying an additional 770,413 shares in the last quarter. Institutional investors and hedge funds own 53.66% of the company’s stock.

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Southern Company Profile

The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.

The Fly

Analyst Recommendations for Southern (NYSE:SO)

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