Southern Co (SO) was Upgraded by Barclays to ” Overweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 62 from a previous price target of $59 . Earlier the firm had a rating of “Equal Weight ” on the company shares. Barclays advised their investors in a research report released on Jul 14, 2016.
Many Wall Street Analysts have commented on Southern Co. Goldman Resumed Southern Co on Jul 14, 2016 to “Neutral”, Price Target of the shares are set at $54.Company shares were Reiterated by Mizuho on Jul 12, 2016 to “Neutral”, Firm has raised the Price Target to $ 52 from a previous price target of $50 .Scotia Howard Weil Initiated Southern Co on May 13, 2016 to “Sector Perform”, Price Target of the shares are set at $52.
On the company’s financial health, Southern Co reported $0.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.53. The company had revenue of $3965.00 million for the quarter, compared to analysts expectations of $4256.32 million. The company’s revenue was down -5.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.56 EPS.
Southern Co opened for trading at $53.1 and hit $53.185 on the upside on Wednesday, eventually ending the session at $53.13, with a gain of 0.55% or 0.29 points. The heightened volatility saw the trading volume jump to 48,83,305 shares. Company has a market cap of $48,787 M.
In a different news, on Jul 6, 2016, Kimberly S, Greene (EVP & COO, Southern Co.) sold 141,818 shares at $54.00 per share price. According to the SEC, on Jul 6, 2016, Mark Lantrip (President & CEO, SCS) sold 35,884 shares at $54.00 per share price. On Jul 6, 2016, Art P Beattie (Executive Vice President & CFO) sold 123,207 shares at $54.12 per share price, according to the Form-4 filing with the securities and exchange commission.
Southern Company is an operating public utility company. The primary business of the Southern Company is electricity sales by the traditional operating companies and Southern Power. Southern Company’s business segments are the sale of electricity by the four traditional operating companies and Southern Power. The four traditional operating companies including Alabama Power Georgia Power Gulf Power and Mississippi Power are vertically integrated utilities providing electric service in four Southeastern states. Southern Company owns all of the common stock of Southern Power Company which is also an operating public utility company. Southern Power constructs acquires owns and manages generation assets including renewable energy projects and sells electricity at market-based rates in the wholesale market. The Company also operates the All Other segment.