Dallas, Texas 01/08/2014 (FINANCIALSTRENDS) – The Southern Company (NYSE:SO) is a S&P 500 index firm got a vote of confidence from rating agency Barclays on January 6. The rating agency reiterated its previous rating of equal weight on the stock and has dropped its price target to $42 from previously set $46 which had been assigned in October 13.
Thanks to the reiteration, the markets reacted positively yesterday. The stock posted a 0.89 percent increase during trading on January 7. When trading was ended for the day, the share price had settled at $40.76 per share, just 1.82 percent above its prior 52 week low price point. This positive turn of events has managed to break the shackles of negative sentiments which had been pervading the stock over the past one year. In the past one month, The Southern Company (NYSE:SO) had posted a 0.59 percent dip in value last week during trading, and these losses extend to 6.5 percent when we consider past half year time frame. Over the trailing 12 months, the stockholders of this firm have seen their valuation dip by 2.9 percent in market value.
The Southern Company (NYSE:SO) trials at the market are masked by a relatively healthy operational results churned out by the firm in the past year. In the past year, the firm managed to post sales of $16.86 billion and recovered net profits of $1.61 billion in the same time period. Its sales figures have remained flat for the just concluded quarter for which results were announced in October 2013 and earnings per share has recorded a 12.6 percent decrease for the same time period. It has been a regular dividend payer and has paid out a cumulative $2.03 per share, over the past year to its share holders. This translates into a dividend yield of 4.98 percent annually.