Seaport Res Ptn Brokers raises earnings estimates for The Southern Company (NYSE:SO)

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The Southern Company (NYSE:SO – Get Rating) – Equity research analysts Seaport Res Ptn raised their fiscal 2022 earnings estimates for Southern shares in a report released Thursday, June 30. Seaport Res Ptn analyst A. Storozynski now expects the utility provider to post earnings per share of $3.60 for the year, up from its previous estimate of $3.57. Seaport Res Ptn currently has a “Buy” rating on the title. The consensus estimate for Southern’s current annual earnings is $3.57 per share. Seaport Res Ptn also released Southern’s fiscal 2024 earnings estimates at $4.15 EPS.

Southern (NYSE:SO – Get Rating) last released its results on Thursday, April 28. The utility provider reported earnings per share (EPS) of $0.97 for the quarter, beating analyst consensus estimates of $0.91 by $0.06. The company posted revenue of $6.60 billion for the quarter, versus analyst estimates of $5.93 billion. Southern had a net margin of 10.09% and a return on equity of 11.35%. The company’s quarterly revenue increased 11.7% year over year. During the same period of the previous year, the company achieved EPS of $0.98.

A number of other equity research analysts have also published reports on the SO. Mizuho raised its price target on Southern shares from $67.00 to $76.00 and gave the stock a “neutral” rating in a Thursday, April 21 report. Wells Fargo & Company raised its price target on Southern shares from $68.00 to $80.00 and gave the company an “equal weight” rating in a Tuesday, April 19 report. UBS Group cut its price target on Southern shares from $83.00 to $76.00 and set a “neutral” rating on the stock in a report on Thursday. Credit Suisse Group issued a hedge on Southern shares in a Monday, April 25 report. They issued an “underperforming” rating and a $77.00 price target on the stock. Finally, BMO Capital Markets cut its price target on Southern shares from $81.00 to $70.00 and set a “market performance” rating on the stock in a Wednesday, June 22 research note. . Two investment analysts gave the stock a sell rating, seven gave the company a hold rating and three gave the company a buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $73.22.

Southern stock opened at $73.14 on Monday. The company has a market capitalization of $77.71 billion, a PE ratio of 33.86, a growth price-earnings ratio of 5.13 and a beta of 0.49. Southern has a 52-week low of $60.76 and a 52-week high of $77.24. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt ratio of 1.55. The company’s 50-day moving average is $72.68 and its two-hundred-day moving average is $70.30.

Hedge funds have recently increased or reduced their holdings in the stock. Comprehensive Financial Consultants Institutional Inc. acquired a new position in Southern during the fourth quarter worth approximately $161,000. Liberty One Investment Management LLC increased its position in Southern by 4.4% during the fourth quarter. Liberty One Investment Management LLC now owns 357,557 shares of the utility provider worth $24,521,000 after acquiring an additional 15,206 shares in the last quarter. Koshinski Asset Management Inc. increased its position in Southern by 20.0% during the fourth quarter. Koshinski Asset Management Inc. now owns 19,490 shares of the utility provider worth $1,337,000 after acquiring 3,253 additional shares in the last quarter. Cypress Capital Group increased its position in Southern by 11.5% during the fourth quarter. Cypress Capital Group now owns 10,764 shares of the utility provider worth $738,000 after acquiring 1,114 additional shares in the last quarter. Finally, Western Pacific Wealth Management LP acquired a new position in Southern during the fourth quarter worth approximately $45,000. 60.58% of the shares are currently held by hedge funds and other institutional investors.

In other news, CEO Kimberly S. Greene sold 40,419 shares of Southern in a trade dated Wednesday, April 6. The shares were sold at an average price of $75.30, for a total value of $3,043,550.70. As a result of the sale, the CEO now owns 123,120 shares of the company, valued at $9,270,936. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. Additionally, CEO Stephen E. Kuczynski sold 14,500 shares of Southern in a trade dated Friday, April 8. The shares were sold at an average price of $75.97, for a total transaction of $1,101,565.00. Following the completion of the sale, the CEO now directly owns 115,284 shares of the company, valued at approximately $8,758,125.48. The disclosure of this sale can be found here. Insiders sold a total of 110,836 shares of the company worth $8,316,301 over the past three months. 0.37% of the shares are currently held by insiders.

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 6. Shareholders of record on Monday, May 16 received a dividend of $0.68 per share. This is an increase from Southern’s previous quarterly dividend of $0.66. This represents an annualized dividend of $2.72 and a yield of 3.72%. The ex-dividend date was Friday, May 13. Southern’s dividend payout ratio (DPR) is currently 125.93%.

Southern Company Profile (Get an evaluation)

The Southern Company, through its subsidiaries, is engaged in the generation, transmission and distribution of electricity. It operates through the Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services and Gas Marketing Services segments. The company also develops, builds, acquires, owns and manages power generation assets, including renewable energy projects and sells power on the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia and Tennessee, as well as gas marketing services, wholesale gas services and gas pipeline investment operations.

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Earnings history and estimates for Southern (NYSE:SO)



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