SOJE Southern Company (The) Series 2

KeyBanc has lowered its price target for Southern Company (SO) to $76 from $87, while maintaining an Underweight rating on the shares. The firm believes that Southern's growth opportunities are more limited than the market currently recognizes, largely due to a recent three-year 'stay-out' and a lack of new rate adjustments in its largest jurisdiction. This situation is expected to hinder Southern's ability to increase its EPS growth rate, leading KeyBanc to view the stock as an unattractive source of funds with a potential for its premium relative to peers to shrink.

Chevy Chase Trust Holdings LLC increased its stake in Southern Company by 1.0%, now holding 0.05% of the company's shares valued at $53.7 million. CEO Kimberly S. Greene reduced her ownership by 12.32%. The company reported a 7.9% revenue increase year-over-year, though earnings per share missed expectations.