Insider Buying: The Southern Company Director Purchases 2,000 Shares of Stock (SO)
The Southern Company (NYSE:SO) Director E Jenner Wood III bought 2,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, May 23rd. The stock was purchased at an average price of $43.13 per share, for a total transaction of $86,260.00. Following the completion of the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $215,650. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on SO shares. Analysts at Deutsche Bank reiterated a “hold” rating on shares of The Southern Company in a research note on Wednesday, April 23rd. They now have a $46.00 price target on the stock. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of The Southern Company in a research note on Monday, April 21st. They now have a $47.00 price target on the stock. Finally, analysts at RBC Capital downgraded shares of The Southern Company from an “outperform” rating to a “sector perform” rating in a research note on Thursday, April 17th. They now have a $46.00 price target on the stock, up previously from $44.00. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $44.72.
The Southern Company (NYSE:SO) traded up 0.27% during mid-day trading on Tuesday, hitting $43.195. 2,696,350 shares of the company’s stock traded hands. The Southern Company has a one year low of $40.03 and a one year high of $46.81. The stock’s 50-day moving average is $44.42 and its 200-day moving average is $42.35. The company has a market cap of $38.479 billion and a P/E ratio of 19.90.
The Southern Company (NYSE:SO) last released its earnings data on Wednesday, April 30th. The company reported $0.66 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.52 by $0.14. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter last year, the company posted $0.49 earnings per share. The Southern Company’s revenue was up 19.2% compared to the same quarter last year. On average, analysts predict that The Southern Company will post $2.78 earnings per share for the current fiscal year.
The Southern Company (NYSE:SO)is a holding company, which owns all of the common stock of the traditional operating companies, including Alabama Power Company (Alabama Power), Georgia Power Company (Georgia Power), Gulf Power Company (Gulf Power), and Mississippi Power Company (Mississippi Power) ,and Southern Power Company (Southern Power), and other direct and indirect subsidiaries (together, the Southern Company system).
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