The Southern Company (SO) has continually shown positive financial performance over the years with notable occurrences involving the acquisition of 1924 shares by Clearbridge Investments LLC, and an increase in the annualized dividend rate to $2.88 per share, marking the 23rd consecutive year of a dividend rise. Furthermore, the company reported its Q1 2024 Earnings, exceeding analysts' projections. Instituational ownership of the company stands strong, with 65% held by such entities. The Southern Company also undertook an offering of $1.1 billion in Convertible Senior Notes. A potential for a 10% return is suggested for being one of the best Utilities. Despite the positive results, the company's stock price experienced a dip, which analysts at times attributed to market gains not being met. In other developments, the company began commercial operations of its newest reactor and saw a surge in sales to data centres. The Southern Company ranks first among utilities in Fortune Magazine's World's Most Admired Companies for 2024, reflecting strong recognition in the market. However, insider selling by Stephen Kuczynski, CEO of Southern Nuclear, may suggest some instability.
The Southern Company SO News Analytics from Thu, 03 Aug 2023 07:00:00 GMT to Sun, 26 May 2024 11:01:32 GMT -
Rating 7
- Innovation -2
- Information 8
- Rumor -6