Southern Company (The) (SO) Given Sell Rating at Citigroup Inc.

Citigroup Inc. restated their sell rating on shares of Southern Company (The) (NYSE:SO) in a research note issued to investors on Tuesday. They currently have a $44.00 target price on the utilities provider’s stock, up from their previous target price of $43.00.

SO has been the topic of a number of other reports. Zacks Investment Research lowered shares of Southern Company (The) from a hold rating to a sell rating in a research report on Friday, June 16th. Jefferies Group LLC reissued a buy rating and set a $56.00 price target (up from $55.00) on shares of Southern Company (The) in a research note on Tuesday, September 12th. Morgan Stanley lowered their price target on shares of Southern Company (The) from $53.00 to $51.00 and set an underweight rating for the company in a report on Friday, June 23rd. BidaskClub lowered shares of Southern Company (The) from a sell rating to a strong sell rating in a report on Saturday, June 24th. Finally, Credit Suisse Group upgraded shares of Southern Company (The) from an underperform rating to a neutral rating in a research report on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. Southern Company (The) has an average rating of Hold and a consensus price target of $49.37.

Southern Company (NYSE:SO) traded up 0.23% during midday trading on Tuesday, reaching $48.90. The company’s stock had a trading volume of 539,882 shares. The stock has a market capitalization of $48.87 billion, a price-to-earnings ratio of 80.43 and a beta of 0.13. Southern Company has a 52-week low of $46.20 and a 52-week high of $52.23. The firm has a 50-day moving average price of $49.00 and a 200 day moving average price of $49.37.

Southern Company (The) (NYSE:SO) last issued its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.23 billion. Southern Company (The) had a net margin of 2.93% and a return on equity of 11.30%. The company’s revenue was up 21.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 EPS. Equities research analysts predict that Southern Company will post $2.95 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Monday, August 21st were given a $0.58 dividend. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $2.32 annualized dividend and a dividend yield of 4.76%. Southern Company (The)’s dividend payout ratio is currently 346.27%.

In related news, EVP Christopher C. Womack sold 75,144 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $49.29, for a total value of $3,703,847.76. Following the completion of the sale, the executive vice president now owns 85,298 shares in the company, valued at $4,204,338.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.74% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Chicago Partners Investment Group LLC acquired a new stake in Southern Company (The) in the second quarter worth $100,000. Symmetry Partners LLC bought a new position in shares of Southern Company (The) during the first quarter worth $103,000. Stuart Chaussee & Associates Inc. boosted its position in shares of Southern Company (The) by 358.8% during the first quarter. Stuart Chaussee & Associates Inc. now owns 2,225 shares of the utilities provider’s stock worth $111,000 after purchasing an additional 1,740 shares in the last quarter. IHT Wealth Management LLC boosted its position in shares of Southern Company (The) by 15.3% during the first quarter. IHT Wealth Management LLC now owns 2,281 shares of the utilities provider’s stock worth $115,000 after purchasing an additional 302 shares in the last quarter. Finally, Monroe Bank & Trust MI boosted its position in shares of Southern Company (The) by 17.9% during the second quarter. Monroe Bank & Trust MI now owns 2,300 shares of the utilities provider’s stock worth $110,000 after purchasing an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 53.28% of the company’s stock.

Southern Company (The) 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 Company (The) (NYSE:SO)

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