Southern Company (SO) is the third-largest utility by market cap in the country. Currently, Southern Company stock is trading at a forward PE ratio of 15x based on the estimated EPS for the next year. Southern Company’s forward PE ratio is lower than its peers’ average forward PE ratio of 17x. Southern Company’s five-year historical average PE ratio is also higher than its forward PE ratio. Southern Company stock appears to be trading at a discount compared to its historical valuation and its peers.