Southern (NYSE:SO – Get Rating) updated its third quarter 2022 earnings guidance on Friday. The company provided earnings per share guidance of $1.32-$1.32 for the period, compared to the consensus earnings per share estimate of $1.31. The company issued revenue guidance of -.
Analysts Set New Price Targets
SO has been the subject of a number of analyst reports. Guggenheim lifted their price objective on shares of Southern from $76.00 to $80.00 in a research report on Thursday, July 21st. Morgan Stanley dropped their target price on shares of Southern from $67.00 to $66.00 and set an underweight rating for the company in a research report on Monday, May 23rd. Mizuho boosted their target price on shares of Southern from $67.00 to $76.00 and gave the company a neutral rating in a research report on Thursday, April 21st. Wells Fargo & Company upped their price objective on shares of Southern from $68.00 to $80.00 and gave the stock an equal weight rating in a research report on Tuesday, April 19th. Finally, Seaport Res Ptn reaffirmed a buy rating on shares of Southern in a research note on Thursday, June 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $75.70.
Southern Price Performance
Ad ProTrading Research
Up or Down – Doesn’t Matter…
These low-priced, “penny” stocks could be a great way to make money regardless of the direction the markets take… Up or down…. Doesn’t matter…
These four just might deliver in a huge way.
SO traded down $1.52 on Friday, reaching $76.45. The company had a trading volume of 61,098 shares, compared to its average volume of 4,279,259. The business has a 50 day simple moving average of $72.17 and a 200 day simple moving average of $71.15. The company has a market cap of $81.27 billion, a price-to-earnings ratio of 27.45, a P/E/G ratio of 5.37 and a beta of 0.50. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.67 and a current ratio of 0.85. Southern has a 52-week low of $60.99 and a 52-week high of $78.78.
Southern (NYSE:SO – Get Rating) last announced its earnings results on Thursday, July 28th. The utilities provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.23. The business had revenue of $7.21 billion for the quarter, compared to the consensus estimate of $5.31 billion. Southern had a net margin of 12.13% and a return on equity of 12.09%. Southern’s quarterly revenue was up 38.6% on a year-over-year basis. During the same period last year, the firm posted $0.84 earnings per share. As a group, sell-side analysts anticipate that Southern will post 3.6 EPS for the current year.
Southern Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 6th. Shareholders of record on Monday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 3.56%. The ex-dividend date is Friday, August 12th. Southern’s dividend payout ratio (DPR) is presently 95.77%.
Insider Buying and Selling
In related news, CEO Stephen E. Kuczynski sold 14,500 shares of Southern stock in a transaction on Friday, June 10th. The shares were sold at an average price of $72.08, for a total value of $1,045,160.00. Following the transaction, the chief executive officer now directly owns 115,284 shares of the company’s stock, valued at $8,309,670.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP James Y. Kerr II sold 25,000 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $76.00, for a total value of $1,900,000.00. Following the sale, the executive vice president now directly owns 136,987 shares of the company’s stock, valued at approximately $10,411,012. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen E. Kuczynski sold 14,500 shares of the company’s stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $72.08, for a total transaction of $1,045,160.00. Following the completion of the sale, the chief executive officer now directly owns 115,284 shares in the company, valued at $8,309,670.72. The disclosure for this sale can be found here. Insiders have sold a total of 68,500 shares of company stock valued at $5,083,910 over the last three months. 0.37% of the stock is owned by company insiders.
Institutional Trading of Southern
Hedge funds and other institutional investors have recently modified their holdings of the business. Achmea Investment Management B.V. purchased a new stake in Southern during the 1st quarter valued at about $68,000. Certified Advisory Corp bought a new stake in Southern during the 1st quarter worth approximately $73,000. Parkside Financial Bank & Trust raised its stake in Southern by 33.5% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,727 shares of the utilities provider’s stock worth $126,000 after acquiring an additional 433 shares during the period. Covestor Ltd raised its stake in Southern by 63.0% during the 1st quarter. Covestor Ltd now owns 1,902 shares of the utilities provider’s stock worth $138,000 after acquiring an additional 735 shares during the period. Finally, Bridgefront Capital LLC bought a new stake in Southern during the 1st quarter worth approximately $227,000. 60.58% of the stock is owned by hedge funds and other institutional investors.
Southern Company Profile
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services segments. 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, wholesale gas services, and gas pipeline investments operations.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Should you invest $1,000 in Southern right now?
Before you consider Southern, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Southern wasn’t on the list.
While Southern currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
from NYSE Updates – My Blog https://ift.tt/TqFuUaW
via IFTTT
No comments:
Post a Comment