The price of The Southern Company (NYSE:SO) shares last traded on Wall Street rose 1.31% to $69.50.
Based on available information, 19 analysts follow The Southern Company (NYSE:SO). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $81.00 and a low of $65.00, we find $73.50. Given the previous closing price of $68.60, this indicates a potential upside of 7.14 percent. SO stock price is now -0.03% away from the 50-day moving average and 0.01% away from the 200-day moving average. The market capitalization of the company currently stands at $74.88B.
Among analysts, 9 rate the stock a hold while 9 rate it a buy. Brokers who have rated the stock have averaged $73.38 as their price target over the next twelve months.
In other news, Kuczynski Stephen E, CEO, Southern Nuclear sold 5,000 shares of the company’s stock on Sep 11. The stock was sold for $339,150 at an average price of $67.83. Upon completion of the transaction, the CEO, Southern Nuclear now directly owns 121,284 shares in the company, valued at $8.43 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 05, EVP and CIO DAVIS MARTIN BERNARD sold 1,490 shares of the business’s stock. A total of $99,904 was realized by selling the stock at an average price of $67.05. This leaves the insider owning 72,756 shares of the company worth $5.06 million. Insiders disposed of 628,179 shares of company stock worth roughly $43.66 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SO stock. A new stake in The Southern Company shares was purchased by CAPITAL INTERNATIONAL INVESTORS during the first quarter worth $387,999,000. POINT72 ASSET MANAGEMENT, L.P. invested $157,112,000 in shares of SO during the first quarter. In the first quarter, CITADEL ADVISORS LLC acquired a new stake in The Southern Company valued at approximately $51,859,000. MEREWETHER INVESTMENT MANAGEMENT, LP acquired a new stake in SO for approximately $43,849,000. EXODUSPOINT CAPITAL MANAGEMENT, LP purchased a new stake in SO valued at around $43,412,000 in the second quarter. In total, there are 2,063 active investors with 63.50% ownership of the company’s stock.
A candlestick chart of The Southern Company (NYSE: SO) showed a price of $68.99 on Wednesday morning. During the past 12 months, The Southern Company has had a low of $58.85 and a high of $79.78. As of last week, the company has a debt-to-equity ratio of 1.98, a current ratio of 0.80, and a quick ratio of 0.60. According to the stock market information, the enterprise value for the company is $136.06B, which is based on a 24.59 price-to-earnings ratio, a 3.37 price-to-earnings-growth ratio, and a beta of 0.52. The fifty day moving average price for SO is $69.50 and a two-hundred day moving average price translates $69.51 for the stock.
The latest earnings results from The Southern Company (NYSE: SO) was released for Jun, 2023. The net profit margin was 11.20% and return on equity was 10.00% for SO. The company reported revenue of $5.75 billion for the quarter, compared to $7.21 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -20.23 percent.
Moreover, the firm recently paid out its quarterly dividend on 09/06/2023. Investors who held shares on 08/21/2023 were paid a $0.70 dividend. On an annualized basis, this represents a $2.80 dividend and a 4.03% percent yield. There was an ex-dividend date of 08/18/2023 for this dividend. In terms of dividend payout ratio, SO is presently at 96.50%.
The Southern Company(SO) Company Profile
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through three segments: Gas Distribution Operations, Gas Pipeline Investments, and Gas Marketing Services. 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. In addition, it constructs, operates, and maintains 77,591 miles of natural gas pipelines and 14 storage facilities with total capacity of 157 Bcf to provide natural gas to residential, commercial, and industrial customers. It serves approximately 8.8 million electric and gas utility customers. Further, the company offers digital wireless communications and fiber optics services. The Southern Company was incorporated in 1945 and is headquartered in Atlanta, Georgia.
