The Southern Company [SO] stock Upgrade by Wolfe Research analyst, price target now $76

The Southern Company [NYSE: SO] plunged by -$2.13 during the normal trading session on Thursday and reaching a high of $72.23 during the day while it closed the day at $70.38. The company report on January 5, 2023 that Alabama Power Names Jeff Peoples CEO.

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The Alabama Power Company board of directors has named Jeff Peoples as the 12th president and CEO of the company, effective immediately. Peoples also joins the board of directors as chairman.

Peoples succeeds Mark Crosswhite, who retired after eight years as the company’s leader.

The Southern Company stock has also loss -1.77% of its value over the past 7 days. However, SO stock has inclined by 2.40% in the 3 months of the year. Over the past six months meanwhile, it has lost -1.28% and lost -1.44% year-on date.

The market cap for SO stock reached $77.46 billion, with 1.09 billion shares outstanding and 1.09 billion shares in the current float. Compared to the average trading volume of 4.67M shares, SO reached a trading volume of 4098663 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $72.00 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.

Wolfe Research have made an estimate for The Southern Company shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 12, 2022. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $63 to $59. The new note on the price target was released on October 24, 2022, representing the official price target for The Southern Company stock. Previously, the target price had yet another raise to $70, while KeyBanc Capital Markets analysts kept a Overweight rating on SO stock. On August 04, 2022, analysts increased their price target for SO shares from 76 to 87.

The Average True Range (ATR) for The Southern Company is set at 1.38, with the Price to Sales ratio for SO stock in the period of the last 12 months amounting to 2.77. The Price to Book ratio for the last quarter was 2.44, with the Price to Cash per share for the same quarter was set at 1.83.

SO stock trade performance evaluation

The Southern Company [SO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.77. With this latest performance, SO shares gained by 4.30% in over the last four-week period, additionally sinking by -1.28% over the last 6 months – not to mention a rise of 3.24% 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 52.15, with the RSI for the last a single of trading hit 47.39, and the three-weeks RSI is set at 53.29 for The Southern Company [SO]. The present Moving Average for the last 50 days of trading for this stock 67.69, while it was recorded at 71.68 for the last single week of trading, and 71.97 for the last 200 days.

The Southern Company [SO]: An insightful look at the core fundamentals

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.

Earnings per share (EPS) analysis for The Southern Company [SO] stock

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 6.68%.

The Southern Company [SO]: Insider Ownership positions

There are presently around $47,786 million, or 63.50% of SO stock, in the hands of institutional investors. The top three institutional holders of SO stocks are: VANGUARD GROUP INC with ownership of 94,652,372, which is approximately 1.492% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 76,360,768 shares of the stock with an approximate value of $5.37 billion in SO stocks shares; and STATE STREET CORP, currently with $4.58 billion in SO stock with ownership of nearly 1.386% of the company’s market capitalization.

796 institutional holders increased their position in The Southern Company [NYSE:SO] by around 28,802,396 shares. Additionally, 685 investors decreased positions by around 36,130,043 shares, while 279 investors held positions by with 614,038,776 shares. The mentioned changes placed institutional holdings at 678,971,215 shares, according to the latest SEC report filing. SO stock had 101 new institutional investments in for a total of 6,090,650 shares, while 102 institutional investors sold positions of 4,950,734 shares during the same period.


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