JPMorgan Chase & Co. Boosts Southern (NYSE:SO) Price Target to $104.00

Southern (NYSE:SO) had its price target increased by JPMorgan Chase & Co. from $101.00 to $104.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 9.09% from the company’s current price.

Several other research firms have also issued reports on SO. Citigroup restated a “buy” rating on shares of Southern in a research note on Friday, April 10th. Raymond James Financial reiterated an “outperform” rating and set a $104.00 target price on shares of Southern in a research note on Friday, May 1st. Weiss Ratings raised Southern from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Seaport Research Partners cut Southern from a “buy” rating to a “neutral” rating in a research note on Monday, April 20th. Finally, Jefferies Financial Group set a $99.00 price target on Southern in a report on Monday, June 22nd. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Southern presently has an average rating of “Hold” and a consensus price target of $99.91.

Southern Stock Performance

Shares of SO opened at $95.33 on Thursday. The company has a market cap of $107.47 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 2.91 and a beta of 0.34. The firm has a 50-day moving average of $94.19 and a 200-day moving average of $93.40. Southern has a one year low of $83.80 and a one year high of $100.83. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.65 and a quick ratio of 0.45.

Southern (NYSE:SO) last issued its earnings results on Wednesday, April 29th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.11. Southern had a net margin of 14.46% and a return on equity of 12.64%. The company had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.07 billion. During the same period in the prior year, the firm earned $1.23 EPS. Southern’s quarterly revenue was up 8.0% compared to the same quarter last year. As a group, equities analysts forecast that Southern will post 4.57 earnings per share for the current year.

Hedge Funds Weigh In On Southern

A number of hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC lifted its position in Southern by 17.5% during the first quarter. Empowered Funds LLC now owns 34,003 shares of the utilities provider’s stock worth $3,127,000 after purchasing an additional 5,067 shares during the period. Schnieders Capital Management LLC. increased its holdings in Southern by 0.7% in the 2nd quarter. Schnieders Capital Management LLC. now owns 59,217 shares of the utilities provider’s stock valued at $5,438,000 after buying an additional 393 shares during the period. WINTON GROUP Ltd acquired a new position in shares of Southern in the 2nd quarter valued at approximately $655,000. Sei Investments Co. raised its position in shares of Southern by 11.5% in the 2nd quarter. Sei Investments Co. now owns 449,960 shares of the utilities provider’s stock valued at $41,320,000 after buying an additional 46,504 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Southern by 2.7% during the 2nd quarter. Treasurer of the State of North Carolina now owns 514,736 shares of the utilities provider’s stock worth $47,268,000 after acquiring an additional 13,392 shares during the period. Institutional investors own 64.10% of the company’s stock.

Southern Company Profile

Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.