What’s The Southern Company (SO) Downside After Forming Bearish Double Bottom?

April 17, 2018 - By Robert Sims

The Southern Company (NYSE:SO) Logo

Investors sentiment increased to 1.1 in 2017 Q4. Its up 0.10, from 1 in 2017Q3. It improved, as 56 investors sold The Southern Company shares while 329 reduced holdings. 75 funds opened positions while 350 raised stakes. 548.17 million shares or 4.36% more from 525.28 million shares in 2017Q3 were reported.
Woodstock Corporation holds 0.21% of its portfolio in The Southern Company (NYSE:SO) for 23,626 shares. Peregrine Asset Advisers Incorporated has 0.13% invested in The Southern Company (NYSE:SO). Fisher Asset Limited Liability Com has 0% invested in The Southern Company (NYSE:SO). Dimensional Fund Advsrs Lp has 1.74M shares. Gabelli Funds Ltd Liability Corp reported 457,000 shares stake. Oregon Public Employees Retirement Fund has 103,361 shares for 0.08% of their portfolio. Tcw Group reported 20,922 shares. Cullen Frost Bankers accumulated 35,686 shares. Shoker Investment Counsel invested in 12,838 shares or 0.45% of the stock. Suntrust Banks reported 0.13% in The Southern Company (NYSE:SO). Acg Wealth accumulated 0.13% or 18,047 shares. M&R, New York-based fund reported 4,204 shares. Morgan Dempsey Capital Management Limited Liability, a Wisconsin-based fund reported 108,413 shares. Employees Retirement System Of Texas holds 0.03% or 49,000 shares in its portfolio. Philadelphia Trust accumulated 23,148 shares or 0.09% of the stock.

Since October 20, 2017, it had 0 buys, and 3 selling transactions for $4.03 million activity. $261,400 worth of The Southern Company (NYSE:SO) shares were sold by Daiss Ann P. The insider BEATTIE ART P sold 46,941 shares worth $2.46 million.

The chart of The Southern Company (SO) shows a double bottom with $41.71 target or 9.00 % below today’s $45.84 share price. The 9 months chart pattern indicates high risk for the $46.41B company. It was reported on Apr, 17 by Finviz.com. If the $41.71 price target is reached, the company will be worth $4.18 billion less. Double bottoms are rare but powerful chart patterns.

The stock increased 1.70% or $0.765 during the last trading session, reaching $45.835. About 3.57 million shares traded. The Southern Company (NYSE:SO) has declined 11.47% since April 17, 2017 and is downtrending. It has underperformed by 23.02% the S&P500.

Analysts await The Southern Company (NYSE:SO) to report earnings on May, 2. They expect $0.81 EPS, up 22.73 % or $0.15 from last year’s $0.66 per share. SO’s profit will be $820.16 million for 14.15 P/E if the $0.81 EPS becomes a reality. After $0.51 actual EPS reported by The Southern Company for the previous quarter, Wall Street now forecasts 58.82 % EPS growth.

The Southern Company (NYSE:SO) Ratings Coverage

Among 12 analysts covering Southern Co (NYSE:SO), 3 have Buy rating, 5 Sell and 4 Hold. Therefore 25% are positive. Southern Co has $55.0 highest and $44 lowest target. $47.55’s average target is 3.74% above currents $45.835 stock price. Southern Co had 32 analyst reports since October 18, 2017 according to SRatingsIntel. SunTrust maintained The Southern Company (NYSE:SO) rating on Monday, April 2. SunTrust has “Hold” rating and $4600 target. On Friday, February 23 the stock rating was maintained by SunTrust with “Hold”. The stock of The Southern Company (NYSE:SO) earned “Sell” rating by Goldman Sachs on Thursday, January 11. The stock of The Southern Company (NYSE:SO) has “Buy” rating given on Tuesday, January 2 by Guggenheim. Deutsche Bank maintained The Southern Company (NYSE:SO) rating on Thursday, February 22. Deutsche Bank has “Buy” rating and $49 target. The firm earned “Hold” rating on Monday, April 16 by SunTrust. SunTrust maintained the stock with “Hold” rating in Monday, January 22 report. As per Tuesday, October 24, the company rating was maintained by Bank of America. On Wednesday, December 6 the stock rating was maintained by SunTrust with “Hold”. The rating was maintained by SunTrust with “Hold” on Tuesday, December 26.

The Southern Company (NYSE:SO) Institutional Positions Chart

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