The Southern Company (NYSE:SO) – Investment analysts at KeyCorp lifted their Q2 2021 earnings per share (EPS) estimates for shares of The Southern in a research report issued to clients and investors on Wednesday, April 14th. KeyCorp analyst S. Karp now expects that the utilities provider will post earnings per share of $0.80 for the quarter, up from their previous estimate of $0.77. KeyCorp currently has a “Overweight” rating and a $65.00 target price on the stock. KeyCorp also issued estimates for The Southern’s Q3 2021 earnings at $1.21 EPS, FY2021 earnings at $3.35 EPS, FY2022 earnings at $3.61 EPS, FY2023 earnings at $3.86 EPS and FY2024 earnings at $4.08 EPS.
The Southern (NYSE:SO) last issued its quarterly earnings data on Wednesday, February 17th. The utilities provider reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.05. The company had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.07 billion. The Southern had a return on equity of 10.08% and a net margin of 15.80%. During the same quarter in the previous year, the firm earned $0.27 earnings per share.
Shares of SO opened at $64.49 on Friday. The firm has a market cap of $68.14 billion, a P/E ratio of 21.50, a P/E/G ratio of 3.56 and a beta of 0.39. The stock has a 50 day simple moving average of $60.49 and a two-hundred day simple moving average of $60.09. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.90 and a quick ratio of 0.73. The Southern has a 1 year low of $50.40 and a 1 year high of $64.93.
In related news, insider Ann P. Daiss sold 5,549 shares of The Southern stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $62.75, for a total value of $348,199.75. Following the completion of the transaction, the insider now owns 18,666 shares in the company, valued at approximately $1,171,291.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Stephen E. Kuczynski sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, April 9th. The stock was sold at an average price of $62.97, for a total value of $157,425.00. Following the sale, the chief executive officer now owns 96,651 shares of the company’s stock, valued at $6,086,113.47. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,049 shares of company stock valued at $806,650. 0.39% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealth Alliance lifted its holdings in The Southern by 8.4% during the 3rd quarter. Wealth Alliance now owns 11,677 shares of the utilities provider’s stock worth $633,000 after buying an additional 907 shares during the last quarter. IHT Wealth Management LLC raised its holdings in shares of The Southern by 45.9% in the 3rd quarter. IHT Wealth Management LLC now owns 16,037 shares of the utilities provider’s stock worth $870,000 after purchasing an additional 5,048 shares during the period. Chiron Capital Management LLC purchased a new stake in shares of The Southern during the 3rd quarter valued at about $111,000. Jeppson Wealth Management LLC acquired a new position in shares of The Southern in the 3rd quarter worth approximately $149,000. Finally, Paces Ferry Wealth Advisors LLC bought a new stake in shares of The Southern in the 3rd quarter worth $455,000. Hedge funds and other institutional investors own 57.62% of the company’s stock.
About The Southern
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy and battery energy storage 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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