Southern (SO) Stock Rating Reaffirmed by Goldman Sachs Group

Goldman Sachs Group reaffirmed their sell rating on shares of Southern (NYSE:SO) in a report published on Wednesday, MarketBeat.com reports.

Several other equities research analysts also recently weighed in on the company. Zacks Investment Research raised Southern from a sell rating to a hold rating in a research report on Friday, November 3rd. Jefferies Group restated a buy rating and set a $56.00 target price (up from $55.00) on shares of Southern in a research report on Tuesday, September 12th. Bank of America restated an underperform rating and set a $51.00 target price on shares of Southern in a research report on Tuesday, October 24th. SunTrust Banks restated a hold rating and set a $52.00 target price on shares of Southern in a research report on Friday, October 20th. Finally, Guggenheim upgraded Southern from a neutral rating to a buy rating and raised their target price for the company from $49.00 to $56.00 in a research report on Thursday, September 14th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. Southern presently has a consensus rating of Hold and a consensus target price of $49.25.

Shares of Southern (NYSE:SO) traded down $0.71 on Wednesday, reaching $45.25. The company’s stock had a trading volume of 6,856,800 shares, compared to its average volume of 6,578,226. The firm has a market cap of $45,410.00, a P/E ratio of 80.80, a P/E/G ratio of 3.45 and a beta of 0.14. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.73 and a quick ratio of 0.57. Southern has a 12 month low of $45.08 and a 12 month high of $53.51.

Southern (NYSE:SO) last announced its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.04. The company 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 firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the firm earned $1.27 EPS. analysts predict that Southern will post 2.96 earnings per share for the current fiscal year.

In related news, insider Art P. Beattie sold 46,941 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $52.50, for a total value of $2,464,402.50. Following the transaction, the insider now directly owns 59,494 shares of the company’s stock, valued at approximately $3,123,435. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP James Y. Kerr II sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $52.16, for a total transaction of $1,304,000.00. Following the completion of the transaction, the vice president now directly owns 26,000 shares in the company, valued at $1,356,160. The disclosure for this sale can be found here. Insiders sold a total of 128,662 shares of company stock worth $6,772,438 over the last ninety days. 0.74% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of SO. AlphaMark Advisors LLC lifted its stake in Southern by 0.6% in the 2nd quarter. AlphaMark Advisors LLC now owns 2,363 shares of the utilities provider’s stock worth $113,000 after purchasing an additional 14 shares in the last quarter. South Texas Money Management Ltd. lifted its stake in Southern by 0.3% in the 2nd quarter. South Texas Money Management Ltd. now owns 7,084 shares of the utilities provider’s stock worth $339,000 after purchasing an additional 19 shares in the last quarter. WMS Partners LLC lifted its stake in Southern by 0.6% in the 2nd quarter. WMS Partners LLC now owns 4,387 shares of the utilities provider’s stock worth $210,000 after purchasing an additional 25 shares in the last quarter. Sfmg LLC lifted its stake in Southern by 0.5% in the 2nd quarter. Sfmg LLC now owns 6,435 shares of the utilities provider’s stock worth $308,000 after purchasing an additional 29 shares in the last quarter. Finally, Jackson Grant Investment Advisers Inc. lifted its stake in Southern by 1.2% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 3,317 shares of the utilities provider’s stock worth $159,000 after purchasing an additional 38 shares in the last quarter. 53.66% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Southern (NYSE:SO)

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