Southern Company (SO) has been generating significant news flow with a mix of performance updates, investment adjustments, and long-term potential. The firm has consistently sustained its earnings streak, with its Q1 2024 results exceeding expectations, adding to its allure. SO's dividend yield remains attractive, with the firm raising it to $2.88 per share, marking their 23rd consecutive year of increases. A large proportion of SO's shareholders are institutional, owning up to 65% of the business, indicating considerable confidence in the firm's potential. Despite lukewarm growth and premium valuation, calculations suggest SO could be 31% above intrinsic value. Investments are on the rise with TrinityPoint Wealth LLC, Clearbridge Investments LLC, Assetmark Inc., Lumbard & Kellner LLC, and multiple others adjusting their positions. SO also appears to be capitalizing on the AI trend with some considering it the best utilities stock for 2024. Among moves, the most notable is its divestment of Pivotal Home Solutions for $365M and issuing $1.1B in convertible senior notes. Market analysts remain divided on SO's potential, considering the balance between current performance and future possibilities.
The Southern Company SO News Analytics from Thu, 03 Aug 2023 07:00:00 GMT to Wed, 29 May 2024 11:48:05 GMT -
Rating 5
- Innovation 1
- Information 7
- Rumor -3
