Southern (NYSE:SO) Downgraded to “Sell” at Citigroup

Southern (NYSE:SO) was downgraded by analysts at Citigroup from a “neutral” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, August 8th, Marketbeat reports. They presently have a $45.00 price objective on the utilities provider’s stock. Citigroup’s price target suggests a potential downside of 5.26% from the stock’s current price.

SO has been the topic of a number of other research reports. SunTrust Banks reaffirmed a “hold” rating and set a $50.00 price objective on shares of Southern in a research report on Monday, August 6th. Scotiabank reaffirmed a “sector perform” rating on shares of Southern in a research report on Tuesday, July 24th. Howard Weil started coverage on Southern in a research report on Tuesday, July 24th. They set a “sector perform” rating and a $45.00 price objective on the stock. Morgan Stanley raised their price objective on Southern from $42.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, July 16th. Finally, Barclays started coverage on Southern in a research report on Tuesday, July 10th. They set an “overweight” rating and a $51.00 price objective on the stock. Eight analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $47.97.

Shares of Southern stock traded up $0.35 during trading on Wednesday, hitting $47.50. 5,981,029 shares of the stock traded hands, compared to its average volume of 6,023,521. The firm has a market cap of $46.78 billion, a P/E ratio of 15.59, a P/E/G ratio of 3.46 and a beta of 0.04. The company has a current ratio of 0.81, a quick ratio of 0.68 and a debt-to-equity ratio of 1.59. Southern has a 52-week low of $42.38 and a 52-week high of $53.51.

Southern (NYSE:SO) last announced its quarterly earnings results on Wednesday, August 8th. The utilities provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.69 by $0.11. The firm had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.28 billion. Southern had a return on equity of 13.06% and a net margin of 9.96%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.73 earnings per share. analysts forecast that Southern will post 2.97 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sciencast Management LP raised its stake in shares of Southern by 34.0% in the first quarter. Sciencast Management LP now owns 13,412 shares of the utilities provider’s stock worth $615,000 after purchasing an additional 3,400 shares during the last quarter. Summit Trail Advisors LLC raised its stake in shares of Southern by 2,614.7% in the first quarter. Summit Trail Advisors LLC now owns 226,789 shares of the utilities provider’s stock worth $227,000 after purchasing an additional 218,435 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Southern by 5.4% in the second quarter. Nisa Investment Advisors LLC now owns 186,418 shares of the utilities provider’s stock worth $8,634,000 after purchasing an additional 9,525 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Southern by 12.3% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 20,092 shares of the utilities provider’s stock worth $930,000 after purchasing an additional 2,196 shares during the last quarter. Finally, Willis Investment Counsel raised its stake in shares of Southern by 0.6% in the first quarter. Willis Investment Counsel now owns 199,640 shares of the utilities provider’s stock worth $8,916,000 after purchasing an additional 1,200 shares during the last quarter. 57.07% of the stock is owned by institutional investors and hedge funds.

About Southern

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, New Jersey, Florida, Tennessee, and Maryland, as well as provides gas marketing services, wholesale gas services, and gas midstream operations.

Further Reading: Leveraged Buyout (LBO) Explained

Analyst Recommendations for Southern (NYSE:SO)

Receive News & Ratings for Southern Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Southern and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.