Price Action Alert: What’s Ahead for Southern Co After Today’s Huge Increase?

Price Action Alert: What's Ahead for Southern Co After Today's Huge Increase?

The stock of Southern Co (NYSE:SO) is a huge mover today! The stock increased 1.72% or $0.87 during the last trading session, hitting $51.57. About 6.50 million shares traded hands or 32.11% up from the average. Southern Co (NYSE:SO) has declined 0.98% since March 29, 2016 and is downtrending. It has underperformed by 4.45% the S&P500.
The move comes after 6 months positive chart setup for the $50.41B company. It was reported on Oct, 31 by Barchart.com. We have $67.04 PT which if reached, will make NYSE:SO worth $15.12 billion more.

Southern Co (NYSE:SO) Ratings Coverage

Out of 9 analysts covering The Southern Company (NYSE:SO), 1 rate it a “Buy”, 0 “Sell”, while 8 “Hold”. This means 11% are positive. The Southern Company has been the topic of 19 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Scotia Capital initiated Southern Co (NYSE:SO) on Friday, May 13 with “Sector Perform” rating. The stock has “Sector Perform” rating given by Howard Weil on Friday, May 13. The rating was upgraded by Zacks on Sunday, August 16 to “Hold”. The firm has “Neutral” rating by Goldman Sachs given on Thursday, July 14. The stock of Southern Co (NYSE:SO) has “Neutral” rating given on Monday, October 19 by SunTrust. On Monday, September 26 the stock rating was maintained by SunTrust with “Neutral”. Barclays Capital upgraded Southern Co (NYSE:SO) rating on Thursday, July 14. Barclays Capital has “Overweight” rating and $62 price target.

According to Zacks Investment Research, “Southern Energy acquires, develops, builds, owns and operates power production and delivery facilities and provides a broad range of energy-related services to utilities and industrial companies in selected countries around the world. Southern Energy businesses include independent power projects, integrated utilities, a distribution company, and energy trading and marketing businesses outside the southeastern United States.”

Insitutional Activity: The institutional sentiment decreased to 1.33 in Q2 2016. Its down 0.11, from 1.44 in 2016Q1. The ratio dropped, as 51 funds sold all Southern Co shares owned while 319 reduced positions. 75 funds bought stakes while 416 increased positions. They now own 460.78 million shares or 0.44% more from 458.75 million shares in 2016Q1.
Robeco Institutional Asset Mgmt Bv holds 961,544 shares or 0.39% of its portfolio. Commerzbank Aktiengesellschaft Fi has invested 0.09% of its portfolio in Southern Co (NYSE:SO). Davy Asset Management Limited last reported 0.17% of its portfolio in the stock. Fdx Advisors Inc reported 64,434 shares or 0.16% of all its holdings. The Florida-based Voloridge Management Lc has invested 0.05% in Southern Co (NYSE:SO). Schaper Benz Wise Investment Counsel Wi holds 0.55% or 57,070 shares in its portfolio. Allianz Asset Management Ag has 0% invested in the company for 59,787 shares. Twin Cap, a Pennsylvania-based fund reported 23,580 shares. Roffman Miller Associates Pa has invested 0.13% of its portfolio in Southern Co (NYSE:SO). Raymond James Advsrs has 0.22% invested in the company for 420,615 shares. Murphy Capital Management has 29,550 shares for 0.25% of their US portfolio. Visionary Asset Mgmt Inc owns 50,780 shares or 0.96% of their US portfolio. Inv Mngmt Of Virginia Ltd accumulated 0.1% or 7,425 shares. Moreover, Nichols Asset Mgmt Ltd Limited Liability Company has 0.67% invested in Southern Co (NYSE:SO) for 6,170 shares. Paloma Prtn Communication holds 0.02% of its portfolio in Southern Co (NYSE:SO) for 38,225 shares.

Insider Transactions: Since May 2, 2016, the stock had 0 insider buys, and 8 insider sales for $32.10 million net activity. Another trade for 35,884 shares valued at $1.94M was sold by Lantrip Mark. Kuczynski Stephen E sold 62,729 shares worth $3.23M. BEATTIE ART P also sold $6.67M worth of Southern Co (NYSE:SO) on Tuesday, July 5. Shares for $8.92M were sold by Crosswhite Mark A. on Thursday, July 28. 46,008 shares with value of $2.46M were sold by WOMACK CHRISTOPHER C on Tuesday, August 2. Daiss Ann P sold 7,000 shares worth $372,960. $7.66M worth of Southern Co (NYSE:SO) was sold by Greene Kimberly S -.

More notable recent Southern Co (NYSE:SO) news were published by: Wsj.com which released: “Southern Co. Revenue and Profit Rise” on October 31, 2016, also Reuters.com with their article: “BRIEF-Southern Co Q3 earnings per share $1.18” published on October 31, 2016, Reuters.com published: “BRIEF-Southern Co unit acquires Wake Wind Energy Center” on October 28, 2016. More interesting news about Southern Co (NYSE:SO) were released by: Prnewswire.com and their article: “Southern Company subsidiary closes on natural gas-fired power facility in …” published on October 27, 2016 as well as Etftrends.com‘s news article titled: “Utilities ETFs Climb Southern Co., Dominion Resources Earnings” with publication date: October 31, 2016.

SO Company Profile

The Southern Company (Southern Company), incorporated on November 9, 1945, is a holding company. The Firm owns all of the stock of the traditional operating companies and Southern Power Company (Southern Power), and owns other direct and indirect subsidiaries. Southern Company’s divisions include the sale of electricity by four traditional operating companies, Southern Power and All Other. The traditional operating companies, including Alabama Power Company (Alabama Power), Georgia Power Company (Georgia Power), Gulf Power Company (Gulf Power) and Mississippi Power Company (Mississippi Power), are vertically integrated utilities providing electric service in over four Southeastern states. Southern Company owns all of the membership interests of Southern Communications Services, Inc. (SouthernLINC Wireless), Southern Nuclear Operating Company, Inc. (Southern Nuclear), Southern Company Services, Inc. (SCS), Southern Company Holdings, Inc. (Southern Holdings), and other direct and indirect subsidiaries. The Company’s subsidiary also includes PowerSecure International, Inc.

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