JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Southern (NYSE:SO) Stock

Southern (NYSE:SO) had its target price upped by JPMorgan Chase & Co. from $94.00 to $97.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 4.01% from the company’s current price.

Several other brokerages also recently issued reports on SO. UBS Group increased their price target on Southern from $94.00 to $97.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Wells Fargo & Company increased their price target on Southern from $95.00 to $99.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Barclays increased their price target on Southern from $83.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 22nd. Guggenheim restated a “neutral” rating and issued a $93.00 price target on shares of Southern in a report on Friday, May 2nd. Finally, Raymond James Financial assumed coverage on Southern in a report on Friday, June 13th. They issued an “outperform” rating and a $98.00 price target for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $93.20.

Southern Trading Up 0.9%

NYSE SO opened at $93.26 on Tuesday. The stock has a 50-day simple moving average of $89.90 and a 200 day simple moving average of $88.35. The company has a market capitalization of $102.50 billion, a PE ratio of 22.26, a P/E/G ratio of 3.20 and a beta of 0.38. The company has a current ratio of 0.86, a quick ratio of 0.65 and a debt-to-equity ratio of 1.69. Southern has a 12 month low of $80.46 and a 12 month high of $94.45.

Southern (NYSE:SO) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Southern had a return on equity of 12.70% and a net margin of 16.54%. The business had revenue of $7.78 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. The firm’s revenue was up 17.0% on a year-over-year basis. Research analysts forecast that Southern will post 4.29 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Investors Research Corp boosted its position in Southern by 400.0% during the first quarter. Investors Research Corp now owns 270 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 216 shares during the last quarter. Cheviot Value Management LLC acquired a new position in Southern during the first quarter valued at approximately $28,000. Financial Connections Group Inc. acquired a new position in Southern during the first quarter valued at approximately $33,000. Accredited Wealth Management LLC acquired a new position in Southern during the first quarter valued at approximately $36,000. Finally, Saudi Central Bank acquired a new position in Southern during the first quarter valued at approximately $40,000. 64.10% of the stock is owned by institutional investors and hedge funds.

Southern Company Profile

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.