Recent information on the Southern Company (SO) paints a highly detailed picture of the company's performance and immediate future expectations. Beating its earnings expectations, the company posted its Q1 2024 Earnings Call Transcript, announcing an increase in dividend for the 23rd consecutive year. The share value has also been positively reassessed to $77.00 by Wells Fargo & Company. Its Q1 2024 result and the start of the year is deemed strong and investors are advised to include the Southern Company in their portfolios. Its history of overcoming estimated earnings makes it a top long-term momentum stock.
However, Q1 2024 witnessed a fall in retail sales but despite this, earnings were in line and exceeded projections. Other noteworthy achievements include initial criticality at its nuclear plant and its Vogtle Unit 4's start with flush testing. Unfortunately, the company's stock saw a dip despite market gains, and it's noted that insiders have sold $7.7m in stock. But despite these mixed signals, emphasis is placed on its strategic growth and its popularity among institutional investors. The market anticipates its Q1 2024 earnings will be $4.03 per share. Correspondingly, institutional shareholders own a majority of the company's stocks. Looking forward, the Southern Company is interested in returning to the solar market.
The Southern Company SO News Analytics from Mon, 17 Jul 2023 17:00:15 GMT to Tue, 07 May 2024 08:59:38 GMT - Rating 9 - Innovation 8 - Rumor 2
