Market Update (NYSE:SO): Southern Company, AGL Resources file merger request in Georgia

[PR Newswire] – ATLANTA, Dec. 17, 2015 /PRNewswire/ — In a joint filing today with the Georgia Public Service Commission, Southern Company (SO) and AGL Resources (GAS) requested that the Commission find that their proposed merger complies with applicable Georgia law. A natural extension of the company’s commitment to finding real solutions for America’s energy future, Southern Company’s pending acquisition of AGL Resources will help address one of the key challenges facing the energy industry – developing the infrastructure necessary to send low-priced natural gas to areas where it is increasingly needed. Read more on this. Southern Company (SO) , currently valued at $42.27B, opened this morning at $46.34. During the trading session, SO traded between $46.04 to $46.79 and has traded between $41.40 and $53.16 over the past year. Priced at 16.20x this year’s forecasted earnings, SO shares are relatively expensive compared to the industry’s 12.93x forward p/e ratio. The company pays shareholders $2.17 per share annually in dividends, yielding 4.83%. Consensus earnings for the current quarter by the 12 sell-side analysts covering the stock is an estimate of $0.43 per share, which would be $0.05 better than the year-ago quarter and a $0.00 sequential decrease. The full-year EPS estimate is $2.86, which would be a $0.06 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $4.46 Billion. If realized, that would be a 10.12% increase over the year-ago quarter. Recently, Mizuho Initiated SO at Buy (Apr 24, 2015). Previously, Guggenheim Initiated SO at to Neutral. The average price target for SO shares by the analysts covering it is $45.60, which is 1.60% below where the stock opened. See more in (NYSE:SO) Similar Articles: Stock Update: The Southern Company (NYSE:SO) – Southern Company, AGL Resources file request with Maryland regulators for approval of merger Company Update: The Southern Company (NYSE:SO) – Southern Company, AGL Resources file request with New Jersey regulators for approval of merger Stock Update: The Southern Company (NYSE:SO) – Southern Company Buys AGL Resources—Secures Gas Infrastructure