RBC Capital Maintains a Buy Rating on Southern Co (SO)

By Ryan Adsit

In a report issued on January 15, Shelby Tucker from RBC Capital maintained a Buy rating on Southern Co (SOResearch Report), with a price target of $67.00. The company’s shares closed last Monday at $67.26, close to its 52-week high of $67.34.

According to TipRanks.com, Tucker is a 5-star analyst with an average return of 9.2% and a 74.0% success rate. Tucker covers the Utilities sector, focusing on stocks such as Public Service Enterprise, American Electric Power, and Nextera Energy Partners.

Currently, the analyst consensus on Southern Co is a Hold with an average price target of $65.83, implying a -0.8% downside from current levels. In a report issued on January 17, KeyBanc also upgraded the stock to Buy with a $71.00 price target.

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Based on Southern Co’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $6 billion and net profit of $1.32 billion. In comparison, last year the company earned revenue of $5.38 billion and had a net profit of $282 million.

Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SO in relation to earlier this year. Earlier this month, Wilson Anthony L, the Pres & CEO, Mississippi Power of SO sold 61,018 shares for a total of $3,966,170.

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The Southern Co. is a holding company, which engages in the sale of electricity. It operates through the following segments: Traditional Electric Operating Companies, Southern Power and Southern Company Gas.