Southern (SO) PT Lowered to $44.00 at Morgan Stanley

Southern (NYSE:SO) had its price objective decreased by equities research analysts at Morgan Stanley from $48.00 to $44.00 in a report issued on Tuesday. The firm presently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price target points to a potential downside of 1.52% from the stock’s previous close.

SO has been the subject of a number of other reports. Zacks Investment Research lowered Southern from a “hold” rating to a “sell” rating in a report on Monday, January 15th. SunTrust Banks reaffirmed a “hold” rating and issued a $50.00 target price on shares of Southern in a report on Tuesday, December 26th. Goldman Sachs Group reaffirmed a “sell” rating on shares of Southern in a report on Wednesday, January 10th. Mizuho reaffirmed a “buy” rating and issued a $52.00 target price on shares of Southern in a report on Tuesday, December 26th. Finally, JPMorgan Chase & Co. began coverage on Southern in a report on Friday, January 12th. They issued an “underweight” rating and a $46.00 target price for the company. Six investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $50.03.

Shares of Southern (NYSE:SO) opened at $44.68 on Tuesday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.57 and a current ratio of 0.73. The company has a market capitalization of $44,490.83, a P/E ratio of 79.79, a price-to-earnings-growth ratio of 3.29 and a beta of 0.03. Southern has a twelve month low of $42.63 and a twelve month high of $53.51.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Iberiabank Corp grew its holdings in Southern by 6.5% during the third quarter. Iberiabank Corp now owns 151,315 shares of the utilities provider’s stock valued at $7,437,000 after purchasing an additional 9,232 shares during the period. Atlantic Trust Group LLC grew its holdings in Southern by 13.4% during the third quarter. Atlantic Trust Group LLC now owns 23,732 shares of the utilities provider’s stock valued at $1,166,000 after purchasing an additional 2,804 shares during the period. Confluence Investment Management LLC grew its holdings in Southern by 2.8% during the fourth quarter. Confluence Investment Management LLC now owns 2,050,249 shares of the utilities provider’s stock valued at $98,596,000 after purchasing an additional 55,264 shares during the period. National Pension Service grew its holdings in Southern by 3.7% during the fourth quarter. National Pension Service now owns 842,651 shares of the utilities provider’s stock valued at $40,523,000 after purchasing an additional 30,381 shares during the period. Finally, Synovus Financial Corp grew its holdings in Southern by 7.2% during the third quarter. Synovus Financial Corp now owns 931,263 shares of the utilities provider’s stock valued at $45,761,000 after purchasing an additional 62,321 shares during the period. 53.72% of the stock is owned by institutional investors and hedge funds.

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About Southern

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 (NYSE:SO)

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