UBS Group Increases Southern (NYSE:SO) Price Target to $91.00

Southern (NYSE:SO) had its price objective hoisted by research analysts at UBS Group from $90.00 to $91.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the utilities provider’s stock. UBS Group’s target price indicates a potential upside of 1.45% from the stock’s previous close.

Other analysts also recently issued reports about the company. Barclays lifted their target price on Southern from $66.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 9th. Jefferies Financial Group began coverage on shares of Southern in a research report on Friday. They issued a “hold” rating and a $94.00 price objective for the company. The Goldman Sachs Group lifted their price target on shares of Southern from $83.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Wolfe Research cut Southern from an “outperform” rating to a “peer perform” rating in a research note on Friday, August 2nd. Finally, Morgan Stanley lifted their target price on Southern from $72.00 to $78.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Southern currently has an average rating of “Hold” and an average target price of $86.33.

Southern Stock Performance

Southern stock opened at $89.70 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.91 and a debt-to-equity ratio of 1.66. Southern has a twelve month low of $61.56 and a twelve month high of $90.34. The company’s 50-day moving average price is $86.20 and its 200-day moving average price is $78.88. The company has a market cap of $98.08 billion, a PE ratio of 23.18, a price-to-earnings-growth ratio of 3.22 and a beta of 0.52.

Southern (NYSE:SO) last released its earnings results on Thursday, August 1st. The utilities provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.19. The firm had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.10 billion. Southern had a return on equity of 12.88% and a net margin of 17.67%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS. On average, equities research analysts forecast that Southern will post 4.01 EPS for the current fiscal year.

Insider Buying and Selling at Southern

In related news, EVP Sterling A. Jr. Spainhour sold 2,380 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $88.99, for a total value of $211,796.20. Following the transaction, the executive vice president now owns 12,500 shares in the company, valued at approximately $1,112,375. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Anthony L. Wilson sold 6,900 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $77.61, for a total value of $535,509.00. Following the sale, the chief executive officer now owns 85,309 shares in the company, valued at $6,620,831.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sterling A. Jr. Spainhour sold 2,380 shares of Southern stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $88.99, for a total value of $211,796.20. Following the transaction, the executive vice president now owns 12,500 shares of the company’s stock, valued at $1,112,375. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,845 shares of company stock worth $2,266,455. 0.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Southern

Hedge funds have recently modified their holdings of the company. Voisard Asset Management Group Inc. purchased a new position in shares of Southern during the 4th quarter valued at approximately $31,000. Scarborough Advisors LLC acquired a new stake in shares of Southern in the fourth quarter valued at about $31,000. Versant Capital Management Inc increased its stake in shares of Southern by 62.0% during the first quarter. Versant Capital Management Inc now owns 444 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 170 shares in the last quarter. TruNorth Capital Management LLC acquired a new position in shares of Southern during the 2nd quarter worth about $39,000. Finally, Financial Synergies Wealth Advisors Inc. lifted its stake in Southern by 3,628.6% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 522 shares of the utilities provider’s stock valued at $37,000 after buying an additional 508 shares in the last quarter. 64.10% of the stock is owned by hedge funds and other institutional investors.

About Southern

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.