|Bid||68.34 x 800|
|Ask||69.39 x 1000|
|Day's Range||68.96 - 70.37|
|52 Week Range||49.01 - 71.10|
|Beta (5Y Monthly)||0.25|
|PE Ratio (TTM)||15.33|
|Forward Dividend & Yield||2.48 (3.55%)|
|Ex-Dividend Date||Feb 13, 2020|
|1y Target Est||N/A|
Investing.com - Southern reported on Thursday fourth quarter earnings that matched analysts' forecasts and revenue that fell short of expectations.
Southern Company (SO) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Southern Company (SO) adds 30,000 residential electric and 21,000 residential gas customers in the first nine months of 2019, a trend that most likely continued in the fourth quarter.
Southern Co. (SO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
The deal makes Dominion the majority partner in the Atlantic Coast Pipeline with a 53% stake. Duke Energy Corp. is now the minority partner, with its share remaining at 47%.
Georgia Power customers will see a credit on their February bills as the utility company passes along the third round of savings in federal corporate taxes. The Georgia Public Service Commission on Dec. 17 approved higher rates for Georgia Power through Dec. 31, 2022 that total $1.68 billion over three years. Georgia Power, the largest electric subsidiary of the Southern Co. (NYSE: SO), said the Tax Cuts and Jobs Act of 2017 reduced its corporate tax rate from 35% to 21%.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Mackinaw Power, LLC and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
(Bloomberg) -- Thomas Fanning, the leader of one of the nation’s biggest utilities, once railed against “the war on coal.” Now he’s on a very different bandwagon, part of the low-to-no-carbon crew.It’s a shift that bows to a new reality as natural gas and solar prices fall and climate change fears rise. “One of the riskiest things a company can do in this kind of environment is not to change,“ said Fanning, the chief executive officer of Southern Co., the Atlanta-based utility that generates enough electricity to power a country the size of Australia.The economic winds are so strong that even many of those who stridently resisted the transition to cleaner energy are converts. Coal fueled more than half of Southern’s power in 2011, when Fanning argued in Washington that limiting its use would “negatively impact the nation’s economic well being.” Today just 22% of Southern’s power comes from coal and the company is a top solar supplier.That doesn’t put Southern at the top of charts, though. Its use of coal didn’t drop below the industry average until last year, and the 12% of its power that came from renewables in 2019 was below the 17% industry average.Fanning, 62, said in an interview that Southern is seeking to find the right balance of options to move forward. He remains opposed to regulating coal and doesn’t approve of clean energy mandates. But he described himself as always having been “one of the leading spokesmen in the industry for ‘all of the above,’ resilience -- the need for innovation, and for thinking about how to create a future,” adding he’d never characterize himself or Southern as being “coal-centric.”Southern’s 2016 acquisition of PowerSecure made it the nation’s largest developer of microgrids in a move into distributed generation. But the company is also heavily involved in researching carbon-capture technologies for natural gas, he said, as well as hydrogen for fuel cells.“We’re the first company I think that came out and said ‘low-to-no’ carbon by 2050,” he said.Critics say Southern still needs to pick up the pace. Karl Rabago of the Pace Energy and Climate Center says Southern has taken advantage of its monopoly powers and friendly regulatory environment to continue squeezing profits from coal and delaying a final transition into renewables. Meanwhile, its Alabama franchise is accused by environmental groups of overcharging customers with rooftop solar panels, deliberately discouraging new installations and avoiding competition.“Resisting market forces can be profitable if you enjoy a monopoly,” Rabago said. “The fundamental question for Southern is how long can its operating companies forestall what’s some think is inevitable or how successfully can they absorb those inevitabilities and transmogrify them into a Southern’s version.”‘Clean Coal’At the same time, Southern’s bets have at times produced pain for shareholders and ratepayers.Over the past decade, the company spent billions in a first-of-its-kind “clean coal” power plant in Mississippi that was abandoned after construction delays and cost overruns. The carbon-capturing technology behind the so-called Kemper project -- which was flagged by Trump as a way to help save mining jobs -- worked just fine but became uneconomic as natural gas prices plunged, Fanning said.The company is also spending over $8 billion on a last-remaining U.S. nuclear project critics say will saddle customers in Georgia with expensive energy bills. The so-called Vogtle units 3 and 4, the first new reactors ordered in the U.S. in decades, have doubled in price and are currently running more than five years behind schedule. The spending spree forced Southern to sell assets including its Florida utility.Sill, over the past year, Southern’s shares have jumped 45%, outpacing the 22% gain for the industry benchmark, as fears that the company wouldn’t be able to complete the Vogtle project faded amid progress reports.Sophie Karp of KeyBanc Capital Markets Inc. in January raised its recommendation on the stock, saying it’s still cheap relative to main rivals. Once America’s largest utility company, Southern has now a market value equivalent to less than 60% of that for renewables powerhouse NextEra Energy Inc.”We’re not only reacting to a future, we’re trying to invent the future,” Fanning said.\--With assistance from Natalia Kniazhevich.To contact the reporter on this story: Gerson Freitas Jr. in New York at email@example.comTo contact the editors responsible for this story: Joe Ryan at firstname.lastname@example.org, Reg GaleFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Utility stocks have posted impressive returns over the last two years; it is precisely that strength, however, that has some investors concerned that perhaps the game is over for the group, cautions Chuck Carlson, dividend reinvestment expert and editor of DRIP Investor.
PennEast Pipeline Co LLC said Friday it asked federal energy regulators for permission to build the Pennsylvania part of its proposed natural gas pipeline first due to difficulty in gaining approvals in New Jersey. The company said in a filing with the U.S. Federal Energy Regulatory Commission (FERC) that it expects to be able to complete the Pennsylvania section of the pipe by November 2021. As for New Jersey, the company said it was targeting completion of the second phase of the project from Pennsylvania into New Jersey in 2023.
The U.S. Federal Energy Regulatory Commission on Thursday supported the view of companies developing the $1 billion PennEast natural gas pipeline that they can use federal eminent domain to gain access to properties owned by New Jersey. PennEast sought the FERC decision after the U.S. Court of Appeals for the Third Circuit ruled in September that the company could not use federal eminent domain to condemn land controlled by the state. FERC in January 2018 approved PennEast's request to build the pipeline from Pennsylvania to New Jersey, and the company promptly sued in federal court under the U.S. Natural Gas Act to use the federal government's eminent domain power to gain access to properties along the route.
The Zacks Analyst Blog Highlights: Fomento Economico Mexicano, Southern Company, DISH Network, NextEra Energy and Charles Schwab
The utilities sector is made up of companies that provide electricity, natural gas, water, sewage and other services to homes and businesses. Many of these companies are heavily regulated, and they include Dominion Energy Inc.
Attorney General Mark Herring filed an amicus brief in the appeal from the Fourth Circuit Court of Appeals that the Supreme Court is slated to hear next month on the $7.8 billion Atlantic Coast Pipeline.
The rating on the principal only class, Cl. A-PO, was affirmed due to the sufficiency of the class's credit support and the pool's share of defeasance. The rating on the IO class, Cl. IO, was downgraded due to the decline in the credit quality of its reference classes resulting from principal paydowns of higher quality reference classes. The ratings of Credit Tenant Lease (CTL) deals are primarily based on the senior unsecured debt rating (or the corporate family rating) of the tenants leasing the real estate collateral supporting the bonds.
Duke Energy Carolinas remains the clear leader in promoting energy efficiency among utilities in the Southeast, states a new report from the Southern Alliance for Clean Energy.