Guggenheim Raises Southern (NYSE:SO) Price Target to $97.00

by · The Cerbat Gem

Southern (NYSE:SO – Free Report) had its target price hoisted by Guggenheim from $93.00 to $97.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the utilities provider’s stock.

SO has been the subject of several other reports. The Goldman Sachs Group upped their price objective on Southern from $83.00 to $94.00 and gave the stock a buy rating in a research note on Friday, August 2nd. Bank of America upped their price target on Southern from $86.00 to $87.00 and gave the stock a neutral rating in a research report on Thursday, August 29th. UBS Group lifted their price objective on Southern from $90.00 to $91.00 and gave the company a neutral rating in a research report on Friday, September 20th. Jefferies Financial Group initiated coverage on shares of Southern in a report on Friday, September 20th. They issued a hold rating and a $94.00 target price for the company. Finally, Wells Fargo & Company lifted their price target on shares of Southern from $77.00 to $89.00 and gave the company an equal weight rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $88.27.

Check Out Our Latest Stock Report on Southern

Southern Stock Down 0.4 %

Southern stock opened at $90.30 on Wednesday. The stock has a market cap of $98.74 billion, a PE ratio of 23.33, a price-to-earnings-growth ratio of 3.23 and a beta of 0.52. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.66 and a current ratio of 0.91. The stock has a fifty day moving average of $87.94 and a 200 day moving average of $80.27. Southern has a one year low of $62.26 and a one year high of $91.86.

Southern (NYSE:SO – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.19. The firm had revenue of $6.46 billion for the quarter, compared to analysts’ expectations of $6.10 billion. Southern had a net margin of 17.67% and a return on equity of 12.88%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.79 EPS. As a group, sell-side analysts predict that Southern will post 4.02 EPS for the current year.

Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Monday, August 19th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Monday, August 19th. Southern’s payout ratio is currently 74.42%.

Insider Activity

In other Southern news, EVP Bryan D. Anderson sold 6,565 shares of Southern stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $89.54, for a total value of $587,830.10. Following the sale, the executive vice president now owns 44,467 shares of the company’s stock, valued at $3,981,575.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Bryan D. Anderson sold 6,565 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $89.54, for a total value of $587,830.10. Following the completion of the transaction, the executive vice president now directly owns 44,467 shares of the company’s stock, valued at approximately $3,981,575.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Sterling A. Jr. Spainhour sold 2,380 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $88.99, for a total transaction of $211,796.20. Following the sale, the executive vice president now directly owns 12,500 shares in the company, valued at approximately $1,112,375. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HBW Advisory Services LLC boosted its stake in Southern by 219.4% during the third quarter. HBW Advisory Services LLC now owns 8,971 shares of the utilities provider’s stock worth $809,000 after buying an additional 6,162 shares during the period. Duncan Williams Asset Management LLC purchased a new stake in shares of Southern in the third quarter valued at $259,000. Wiser Wealth Management Inc bought a new stake in shares of Southern in the 3rd quarter worth about $1,183,000. Farmers Trust Co. boosted its stake in shares of Southern by 236.3% during the 3rd quarter. Farmers Trust Co. now owns 36,778 shares of the utilities provider’s stock worth $3,317,000 after purchasing an additional 25,843 shares during the period. Finally, SG Americas Securities LLC grew its holdings in Southern by 33.5% during the 3rd quarter. SG Americas Securities LLC now owns 285,849 shares of the utilities provider’s stock valued at $25,778,000 after purchasing an additional 71,749 shares during the last quarter. Hedge funds and other institutional investors own 64.10% of the company’s stock.

About Southern

(Get Free Report)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy 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, gas distribution operations, and gas pipeline investments operations.

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