Market Analysts see The Southern Company [SO] falling to $72. Time to buy?


The Southern Company [NYSE: SO] price surged by 1.49 percent to reach at $1.06. The company report on March 29, 2022 that Battery-based energy storage projects at Southern Power’s Garland and Tranquillity solar facilities are now operational.

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Southern Power, a leading U.S. wholesale energy provider and subsidiary of Southern Company, today announced that battery-based energy storage projects at its Tranquillity and Garland solar facilities in California are now fully operational.

“These co-located solar and storage projects are a first of their kind for Southern Power,” said Southern Power President Bill Grantham. “We expect these new battery-based energy storage projects to enhance California’s grid reliability. The combination of our solar technology and these new energy storage resources will further position Southern Power to meet our customers’ needs as the energy industry continues to evolve.”.

A sum of 5422261 shares traded at recent session while its average daily volume was at 5.90M shares. The Southern Company shares reached a high of $72.07 and dropped to a low of $70.72 until finishing in the latest session at $72.06.

The one-year SO stock forecast points to a potential downside of -3.73. The average equity rating for SO stock is currently 2.60, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on The Southern Company [SO]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SO shares is $69.47 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SO stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for The Southern Company shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on February 07, 2022. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $75 to $71. The new note on the price target was released on February 07, 2022, representing the official price target for The Southern Company stock. Previously, the target price had yet another raise to $66, while Evercore ISI analysts kept a In-line rating on SO stock.

The Average True Range (ATR) for The Southern Company is set at 1.32, with the Price to Sales ratio for SO stock in the period of the last 12 months amounting to 3.23. The Price to Book ratio for the last quarter was 2.75, with the Price to Cash per share for the same quarter was set at 1.74.

SO Stock Performance Analysis:

The Southern Company [SO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.71. With this latest performance, SO shares gained by 11.26% in over the last four-week period, additionally plugging by 16.34% over the last 6 months – not to mention a rise of 17.09% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SO stock in for the last two-week period is set at 72.10, with the RSI for the last a single of trading hit 80.51, and the three-weeks RSI is set at 66.81 for The Southern Company [SO]. The present Moving Average for the last 50 days of trading for this stock 67.43, while it was recorded at 70.42 for the last single week of trading, and 64.99 for the last 200 days.

Insight into The Southern Company Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and The Southern Company [SO] shares currently have an operating margin of +22.69 and a Gross Margin at +28.24. The Southern Company’s Net Margin is presently recorded at +10.37.

Return on Equity for this stock inclined to 8.53, with Return on Assets sitting at 1.92.

The Southern Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.80.

SO Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for The Southern Company go to 6.47%.

The Southern Company [SO] Insider Position Details

There are presently around $45,971 million, or 61.60% of SO stock, in the hands of institutional investors. The top three institutional holders of SO stocks are: VANGUARD GROUP INC with ownership of 90,764,249, which is approximately 0.155% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 73,889,061 shares of the stock with an approximate value of $5.25 billion in SO stocks shares; and STATE STREET CORP, currently with $3.73 billion in SO stock with ownership of nearly 0.831% of the company’s market capitalization.

888 institutional holders increased their position in The Southern Company [NYSE:SO] by around 28,409,229 shares. Additionally, 587 investors decreased positions by around 19,266,797 shares, while 248 investors held positions by with 599,809,559 shares. The mentioned changes placed institutional holdings at 647,485,585 shares, according to the latest SEC report filing. SO stock had 231 new institutional investments in for a total of 5,130,714 shares, while 76 institutional investors sold positions of 1,980,835 shares during the same period.