Market Analysts see The Southern Company [SO] gaining to $77. Time to buy?



The Southern Company [NYSE: SO] loss -0.34% or -0.25 points to close at $73.26 with a heavy trading volume of 6341517 shares. The company report on July 21, 2022 that Georgia Power’s transformational plan for state’s energy future approved, helps ensure company will continue to meet needs of customers and state.

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2022 Integrated Resource Plan focused on transformation of generation fleet and electric grid; transition from coal generation to cleaner, more economical renewable and solar energy resources; investments in reliability and resilience; and diverse, flexible customer programs.

The Georgia Public Service Commission (PSC) today approved Georgia Power’s 2022 Integrated Resource Plan (IRP), which sets forth a proactive, innovative and transformational roadmap for how Georgia Power will continue to meet the energy needs of customers, local communities and the State of Georgia for future generations.

It opened the trading session at $73.15, the shares rose to $73.45 and dropped to $72.565, the range by which the price of stock traded the whole day. The daily chart for SO points out that the company has recorded 8.94% gains over the past six months. However, it is still -20.12% lower than its most recent low trading price.

If we look at the average trading volume of 4.94M shares, SO reached to a volume of 6341517 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 $74.12 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 2.80. 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.

Credit Suisse have made an estimate for The Southern Company shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on April 26, 2022. The new note on the price target was released on April 07, 2022, representing the official price target for The Southern Company stock. Previously, the target price had yet another drop from $73 to $72, while Wells Fargo kept a Equal Weight rating on SO stock. On February 07, 2022, analysts decreased their price target for SO shares from 75 to 71.

The Average True Range (ATR) for The Southern Company is set at 1.23, with the Price to Sales ratio for SO stock in the period of the last 12 months amounting to 3.21. 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 1.59.

Trading performance analysis for SO stock

The Southern Company [SO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.27. With this latest performance, SO shares gained by 4.11% in over the last four-week period, additionally plugging by 8.94% over the last 6 months – not to mention a rise of 13.51% 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 58.75, with the RSI for the last a single of trading hit 63.71, and the three-weeks RSI is set at 55.62 for The Southern Company [SO]. The present Moving Average for the last 50 days of trading for this stock 72.07, while it was recorded at 72.45 for the last single week of trading, and 68.75 for the last 200 days.

The Southern Company [SO]: A deeper dive into fundamental analysis

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 0.70 and a Current Ratio set at 0.90.

The Southern Company [SO]: An earnings per share (EPS) analysis

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 6.12%.

An analysis of insider ownership at The Southern Company [SO]

There are presently around $48,022 million, or 63.00% of SO stock, in the hands of institutional investors. The top three institutional holders of SO stocks are: VANGUARD GROUP INC with ownership of 91,645,885, which is approximately 0.971% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 69,533,043 shares of the stock with an approximate value of $5.09 billion in SO stocks shares; and STATE STREET CORP, currently with $4.59 billion in SO stock with ownership of nearly 19.41% of the company’s market capitalization.

Positions in The Southern Company stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 784 institutional holders increased their position in The Southern Company [NYSE:SO] by around 48,815,715 shares. Additionally, 691 investors decreased positions by around 37,751,126 shares, while 301 investors held positions by with 568,937,792 shares. The mentioned changes placed institutional holdings at 655,504,633 shares, according to the latest SEC report filing. SO stock had 132 new institutional investments in for a total of 4,601,972 shares, while 90 institutional investors sold positions of 4,335,366 shares during the same period.