The Southern Company (SO) saw a surge in its stake boosted by Boston Partners and Tidal Investments LLC selling its shares. SO topped Q2 expectation, with revenue growing 12.4% YoY. Its FY2024 and FY2027 forecasted earnings per share are $4.03 and $4.93, respectively and the analysts have upgraded its target price to $87 and then $94. The Company announced an increased quarterly dividend for the 23rd consecutive year, at an annualized rate of $2.88 per share. It outperformed the Utilities sector, with many investors finding intrinsic value in the company. SO was seen surpassing Wall Street profit forecasts and industry average ROE. Institutional owners hold 65% of the company, and along with other bullish investors expect in a continued strong performance despite the downgrade by Wolfe Research. The electric utility is generating a 3.7% yield and maintains a strong dividend outlook. Southern Co.'s CEO calls for a significant expansion in nuclear power to meet growing electricity demand.
The Southern Company SO News Analytics from Thu, 02 Nov 2023 07:00:00 GMT to Sun, 04 Aug 2024 21:04:28 GMT -
Rating 8
- Innovation 6
- Information 9
- Rumor -6
