Southern (NYSE:SO) Given New $71.00 Price Target at KeyCorp

Southern (NYSE:SO) had its target price hoisted by investment analysts at KeyCorp from $69.00 to $71.00 in a report issued on Thursday, Analyst Ratings Network reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s price target indicates a potential upside of 3.41% from the stock’s previous close. KeyCorp also issued estimates for Southern’s Q4 2021 earnings at $0.35 EPS, FY2022 earnings at $3.55 EPS and FY2023 earnings at $3.80 EPS.

A number of other research firms have also commented on SO. Scotiabank lowered shares of Southern from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, December 15th. UBS Group lowered shares of Southern from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 5th. Mizuho raised shares of Southern from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $55.00 to $60.00 in a research report on Monday, December 6th. Finally, Morgan Stanley increased their price target on shares of Southern from $61.00 to $65.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 21st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $69.20.

Shares of SO opened at $68.66 on Thursday. The firm has a 50-day moving average price of $65.24 and a 200 day moving average price of $64.32. The firm has a market capitalization of $72.77 billion, a PE ratio of 24.26, a P/E/G ratio of 3.87 and a beta of 0.51. The company has a quick ratio of 0.69, a current ratio of 0.86 and a debt-to-equity ratio of 1.47. Southern has a 52-week low of $56.69 and a 52-week high of $69.23.

Southern (NYSE:SO) last announced its earnings results on Thursday, November 4th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.01. The firm had revenue of $6.24 billion during the quarter, compared to analyst estimates of $6.15 billion. Southern had a net margin of 13.40% and a return on equity of 11.38%. Southern’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.22 EPS. On average, equities analysts expect that Southern will post 3.38 EPS for the current year.

In other Southern news, CEO Stephen E. Kuczynski sold 2,500 shares of the stock in a transaction that occurred on Monday, January 10th. The stock was sold at an average price of $68.59, for a total transaction of $171,475.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Christopher Cummiskey sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 1st. The shares were sold at an average price of $61.45, for a total value of $122,900.00. The disclosure for this sale can be found here. Insiders sold 78,960 shares of company stock worth $5,296,450 in the last 90 days. 0.43% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in SO. Penserra Capital Management LLC acquired a new position in Southern during the second quarter valued at approximately $27,000. Lion Street Advisors LLC acquired a new position in Southern during the second quarter valued at approximately $32,000. Canton Hathaway LLC grew its holdings in Southern by 41.0% during the third quarter. Canton Hathaway LLC now owns 705 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 205 shares during the last quarter. Total Clarity Wealth Management Inc. acquired a new stake in shares of Southern in the third quarter worth $45,000. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in shares of Southern in the third quarter worth $45,000. Institutional investors own 59.05% of the company’s stock.

About Southern

The Southern Co is a holding company. The firm engages in the sale of electricity. It operates through the following segments: Traditional Electric Operating Companies, Southern Power and Southern Company Gas. The Traditional Electric Operating Companies segment refers to vertically integrated utilities that own generation, transmission and distribution facilities, and supplies electric services in the states of Alabama, Georgia, Florida, and Mississippi.

Further Reading: Determine Your Level of Risk Tolerance

Analyst Recommendations for Southern (NYSE:SO)

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.