Southern (NYSE:SO) had its price objective upped by JPMorgan Chase from $43.00 to $45.00 in a research report sent to investors on Tuesday. JPMorgan Chase currently has an underweight rating on the utilities provider’s stock.
A number of other research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Southern from a hold rating to a sell rating in a research note on Monday, January 15th. Goldman Sachs restated a sell rating on shares of Southern in a research note on Wednesday, January 10th. Mizuho restated a buy rating and set a $52.00 price target on shares of Southern in a research note on Tuesday, December 26th. SunTrust Banks restated a hold rating and set a $45.00 price target on shares of Southern in a research note on Tuesday, March 6th. Finally, Credit Suisse Group restated an underperform rating and set a $45.00 price target (down previously from $46.00) on shares of Southern in a research note on Tuesday, February 27th. Seven research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $49.10.
NYSE SO opened at $43.94 on Tuesday. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.74 and a quick ratio of 0.59. Southern has a twelve month low of $42.38 and a twelve month high of $53.51. The stock has a market capitalization of $44,832.83, a P/E ratio of 14.55, a P/E/G ratio of 3.41 and a beta of 0.02.
Southern (NYSE:SO) last released its earnings results on Wednesday, February 21st. The utilities provider reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.05. The business had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $5.17 billion. Southern had a net margin of 3.82% and a return on equity of 11.96%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $0.24 earnings per share. sell-side analysts anticipate that Southern will post 2.9 earnings per share for the current year.
Large investors have recently bought and sold shares of the company. Iberiabank Corp raised its stake in shares of Southern by 6.5% in the third quarter. Iberiabank Corp now owns 151,315 shares of the utilities provider’s stock valued at $7,437,000 after acquiring an additional 9,232 shares during the last quarter. Confluence Investment Management LLC increased its holdings in shares of Southern by 2.8% in the fourth quarter. Confluence Investment Management LLC now owns 2,050,249 shares of the utilities provider’s stock valued at $98,596,000 after purchasing an additional 55,264 shares in the last quarter. Atlantic Trust Group LLC increased its holdings in shares of Southern by 13.4% in the third quarter. Atlantic Trust Group LLC now owns 23,732 shares of the utilities provider’s stock valued at $1,166,000 after purchasing an additional 2,804 shares in the last quarter. National Pension Service increased its holdings in shares of Southern by 3.7% in the fourth quarter. National Pension Service now owns 842,651 shares of the utilities provider’s stock valued at $40,523,000 after purchasing an additional 30,381 shares in the last quarter. Finally, Synovus Financial Corp increased its holdings in shares of Southern by 7.2% in the third quarter. Synovus Financial Corp now owns 931,263 shares of the utilities provider’s stock valued at $45,761,000 after purchasing an additional 62,321 shares in the last quarter. Institutional investors own 56.40% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This piece of content was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece of content can be accessed at https://ledgergazette.com/2018/04/14/southern-so-given-new-45-00-price-target-at-jpmorgan-chase.html.
Southern Company Profile
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, New Jersey, Florida, Tennessee, and Maryland, as well as provides gas marketing services, wholesale gas services, and gas midstream operations.
Receive News & Ratings for Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern and related companies with MarketBeat.com's FREE daily email newsletter.