Southern (SO) Given a $47.00 Price Target at SunTrust Banks

SunTrust Banks set a $47.00 price objective on Southern (NYSE:SO) in a report published on Wednesday morning. The firm currently has a hold rating on the utilities provider’s stock.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada reissued a buy rating on shares of Southern in a report on Friday, December 22nd. Citigroup reissued a sell rating and issued a $44.00 price objective (up previously from $43.00) on shares of Southern in a report on Tuesday, October 3rd. Bank of America reissued an underperform rating and issued a $51.00 price objective on shares of Southern in a report on Tuesday, October 24th. Mizuho reissued a buy rating and issued a $55.00 price objective on shares of Southern in a report on Friday, December 8th. Finally, Guggenheim reissued a buy rating and issued a $52.00 price objective on shares of Southern in a report on Wednesday, January 3rd. Six equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $51.07.

Shares of Southern (NYSE SO) opened at $44.44 on Wednesday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.57 and a current ratio of 0.73. The firm has a market capitalization of $44,601.23, a PE ratio of 79.36, a price-to-earnings-growth ratio of 3.29 and a beta of 0.14. Southern has a one year low of $44.26 and a one year high of $53.51.

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

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Tuesday, February 20th will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 5.22%. Southern’s payout ratio is 414.29%.

In other Southern news, insider Art P. Beattie sold 46,941 shares of the stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $52.50, for a total transaction of $2,464,402.50. Following the completion of the transaction, the insider now owns 59,494 shares of the company’s stock, valued at $3,123,435. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ann P. Daiss sold 5,080 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $53.28, for a total value of $270,662.40. Following the transaction, the insider now directly owns 7,474 shares of the company’s stock, valued at approximately $398,214.72. The disclosure for this sale can be found here. Insiders sold a total of 98,662 shares of company stock valued at $5,207,038 in the last ninety days. 1.00% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the business. AlphaMark Advisors LLC raised its holdings in shares of Southern by 0.6% during the second quarter. AlphaMark Advisors LLC now owns 2,363 shares of the utilities provider’s stock valued at $113,000 after acquiring an additional 14 shares during the last quarter. South Texas Money Management Ltd. raised its holdings in shares of Southern by 0.3% during the second quarter. South Texas Money Management Ltd. now owns 7,084 shares of the utilities provider’s stock valued at $339,000 after acquiring an additional 19 shares during the last quarter. WMS Partners LLC raised its holdings in shares of Southern by 0.6% during the second quarter. WMS Partners LLC now owns 4,387 shares of the utilities provider’s stock valued at $210,000 after acquiring an additional 25 shares during the last quarter. Sfmg LLC raised its holdings in shares of Southern by 0.5% during the second quarter. Sfmg LLC now owns 6,435 shares of the utilities provider’s stock valued at $308,000 after acquiring an additional 29 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. raised its holdings in shares of Southern by 1.2% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 3,317 shares of the utilities provider’s stock valued at $159,000 after acquiring an additional 38 shares during the last quarter. 53.68% of the stock is owned by institutional investors and hedge funds.

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About Southern

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.

Analyst Recommendations for Southern (NYSE:SO)

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