Company Update: The Southern Company (NYSE:SO) – Southern Company, AGL Resources receive merger approval from California regulators

[PR Newswire] – ATLANTA, March 22, 2016 /PRNewswire/ — Southern Company (SO) and AGL Resources (GAS) have received unanimous regulatory approval of the companies’ proposed merger from the California Public Utilities Commission. AGL Resources is the parent company of Central Valley Gas Storage, a natural gas storage facility located in the Sacramento River valley. Read more on this. Southern Company (SO) , valued at $45.89B, started trading this morning at $50.46. Today, shares have traded between $50.21 and $50.77 per share with the price of the stock fluctuating between $41.40 to $51.01 over the last 52 weeks. SO shares are currently priced at 17.77x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 16.94x forward p/e ratio. And for income investors, the company pays shareholders $2.17 per share annually in dividends, yielding 4.28%. According to a consensus of 8 analysts, the earnings estimate of $0.54 per share would be $0.02 worse than the year-ago quarter and a $0.05 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $2.84 is a $0.05 worse when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $4.28 Billion. If reported, that would be a 2.39% increase over the year-ago quarter. More 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 $47.89, which is 5.09% below where the stock opened. See more in (NYSE:SO) Similar Articles: Market Update: The Southern Company (NYSE:SO) – Southern Company, AGL Resources receive merger approval from Virginia regulators 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