FY2024 EPS Estimates for Southern Boosted by Seaport Res Ptn

The Southern Company (NYSE:SO) – Seaport Res Ptn increased their FY2024 earnings per share estimates for Southern in a research report issued to clients and investors on Monday, January 6th. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will post earnings of $4.06 per share for the year, up from their previous estimate of $4.03. The consensus estimate for Southern’s current full-year earnings is $4.03 per share. Seaport Res Ptn also issued estimates for Southern’s FY2025 earnings at $4.36 EPS, FY2026 earnings at $4.64 EPS and FY2027 earnings at $4.96 EPS.

Several other equities research analysts have also recently weighed in on the company. Barclays upped their price target on Southern from $71.00 to $83.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Mizuho cut shares of Southern from an “outperform” rating to a “neutral” rating and set a $90.00 target price on the stock. in a research note on Monday, September 16th. BMO Capital Markets reduced their price target on shares of Southern from $99.00 to $97.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. UBS Group increased their price objective on Southern from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Finally, Scotiabank boosted their target price on Southern from $96.00 to $98.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $90.14.

Southern Stock Performance

Shares of SO stock opened at $82.97 on Wednesday. The firm’s 50 day moving average is $85.36 and its 200 day moving average is $86.00. The stock has a market capitalization of $90.91 billion, a P/E ratio of 19.30, a PEG ratio of 3.04 and a beta of 0.52. Southern has a 12 month low of $65.80 and a 12 month high of $94.45. The company has a current ratio of 0.91, a quick ratio of 0.66 and a debt-to-equity ratio of 1.66.

Southern (NYSE:SO) last issued its earnings results on Thursday, October 31st. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.10. The firm had revenue of $7.27 billion for the quarter, compared to analyst estimates of $7.14 billion. Southern had a return on equity of 12.78% and a net margin of 17.87%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.42 earnings per share.

Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend was Monday, November 18th. Southern’s payout ratio is currently 66.98%.

Insiders Place Their Bets

In related news, EVP Martin Bernard Davis sold 1,170 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $85.90, for a total value of $100,503.00. Following the completion of the transaction, the executive vice president now directly owns 88,393 shares in the company, valued at $7,592,958.70. This trade represents a 1.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Southern

Institutional investors have recently modified their holdings of the stock. Frazier Financial Advisors LLC raised its holdings in Southern by 168.1% in the 3rd quarter. Frazier Financial Advisors LLC now owns 311 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 195 shares during the last quarter. West Branch Capital LLC increased its holdings in shares of Southern by 34.7% in the 3rd quarter. West Branch Capital LLC now owns 501 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 129 shares in the last quarter. Safe Harbor Fiduciary LLC purchased a new position in shares of Southern in the third quarter worth $49,000. Quarry LP bought a new position in shares of Southern during the third quarter valued at $49,000. Finally, Activest Wealth Management purchased a new stake in shares of Southern during the third quarter valued at $54,000. 64.10% of the stock is owned by hedge funds and other institutional investors.

About Southern

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