Counsel Hunton Andrews Kurth advised on the At-the-Market Program for Southern Company (SO) for the sale of up to 50 million shares. The company was reported to have increased its dividend for the 23rd consecutive year whereas International Assets Investment Management reduced its stock position. Reports also talk about another acquisition where Boston Partners acquired 811,806 SO shares. The company also beat earnings expectations and Q1 2024 earnings call indicated positive results.
On the other hand, share disposal has led to potential bearish signals. The CEO is reported to have sold shares worth somewhat around US $684,815.04 and insiders disposed of US $765k worth. A delay in Unit 3 of Vogtle plant was announced due to Coronavirus. On the brighter side, initiatives towards electric vehicle plans with WeaveGrid have been launched to simplify home charging solutions.
The consistently increased dividends, positive earnings and strong institutional ownership are key factors for the Southern Company's stock. However, shares disposal by insiders and delays due to Covid-19 were potential setbacks.
The Southern Company SO News Analytics from Thu, 03 Aug 2023 07:00:00 GMT to Thu, 16 May 2024 18:36:30 GMT - Rating 3 - Innovation 0 - Information 6 - Rumor -5
