|Bid||47.33 x 800|
|Ask||47.34 x 3000|
|Day's Range||46.93 - 47.40|
|52 Week Range||42.38 - 53.51|
|PE Ratio (TTM)||42.71|
|Earnings Date||Oct 30, 2018 - Nov 5, 2018|
|Forward Dividend & Yield||2.40 (5.12%)|
|1y Target Est||46.15|
What happens in China will have a huge impact on Southern Company, which may not make sense until you dig into the story a little.
Stocks shifted to a defensive posture Wednesday. Among IBD's 197 industry groups, utilities, food and tobacco advanced. Oil and steel retreated.
MARKET PULSE The utilities sector is among the few bright spots in Wednesday's broad-market selloff, as the sector's defensive nature and high dividend yield is providing a haven for investors.
The four large-cap utility stocks have performed well in the second quarter and have the potential to maintain their performance in the coming quarters.
Cheap natural gas, sluggish power demand, growing renewable energy, and emissions regulations will all continue to crowd out coal as U.S. utilities use more natural gas and renewables for electricity generation through 2025. This year, we have seen more U.S. utilities incorporate renewables and natural gas-fired generation into their long-term resource planning as coal fleets dwindle. The economics of offshore wind energy continue to improve, and two major projects, one off the coast of Massachusetts and another off Rhode Island, were recently selected by state officials to move forward.
Moody's Investors Service has affirmed the ratings on the revenue bonds issued by Municipal Electric Authority of Georgia (MEAG Power) for Project M at A2, Project P at Baa2, and Project J at A2, following the recently announced increase in construction and contingency costs relating to the construction of Vogtle Nuclear Units 3 and 4 (Vogtle 3&4). The rating outlook has been revised to negative from stable on Project M and Project P bonds and the negative rating outlook remains on Project J bonds.
Moody's Investors Service has affirmed the A2 rating on the City of Dalton, Georgia Combined Utilities Revenue Bonds, Series 2017. The issuer rating of A2 has also been affirmed. Dalton has a 1.6% ownership obligation in the financing of the construction of Vogtle Nuclear Units 3 and 4.
Have you been keeping an eye on The Southern Company’s (NYSE:SO) upcoming dividend of US$0.60 per share payable on the 06 September 2018? Then you only have 2 days leftRead More...
Moody's Investors Service, (Moody's) upgraded the short-term industrial revenue bond rating of Georgia Power Company (Georgia Power) to VMIG 2 from VMIG 3 (on review for downgrade). There are no changes to Georgia Power's long-term ratings, including its Baa1 Issuer Rating, Baa1 senior unsecured rating, and Baa2 junior subordinated rating, which are on review for downgrade. Due to a mapping error in that earlier rating action, the short-term rating was mistakenly downgraded to VMIG 3 in conjunction with a downgrade of Georgia Power's long-term rating to Baa1.
Moody's Investors Service today revised the rating outlook for PowerSouth Energy Cooperative (PowerSouth) to negative from stable. Moody's concurrently affirmed the A3 underlying rating for PowerSouth's Gulf Opportunity Zone Refunding Bonds, Series 2010A, which were issued by The Industrial Development Board of the Town of Chatom on behalf of PowerSouth and are senior secured obligations of PowerSouth under the cooperative's mortgage indenture. Additionally, Moody's affirmed PowerSouth's senior unsecured issuer rating at Baa1.
Southern Company (SO) stock corrected ~6% last week. Southern Company has a mean target price of $46.1—compared to its current market price of $46.1, which indicates flattish movement for the next year. Brokerages lowered Southern Company’s target price after its second-quarter earnings. Barclays cut Southern Company’s target price from $51 to $48 and lowered its rating from “overweight” to “equal weight.” J.P. Morgan lowered Southern Company’s target price from $46 to $45 on August 9. ...
NextEra Energy (NEE), the biggest component of the Utilities Select Sector SPDR ETF (XLU), is one of the top-rallied stocks among its peers. So far, the stock has risen 10% in 2018 and notably beat broader utilities. Currently, NextEra Energy is trading at an EV-to-EBITDA multiple of ~16x—higher than its five-year average valuation. NextEra Energy is trading at a PE multiple of 14x.
Moody's Investors Service changed the rating outlook for Oglethorpe Power Corporation (OPC) to negative from stable and concurrently affirmed OPC's ratings, including its senior secured first mortgage bonds and senior secured tax-exempt revenue bonds at Baa1, issuer rating at Baa2 and short-term rating for commercial paper at P-2.
Utilities are one of the most vulnerable sectors to rising interest rates. Utilities have been on a notable uptrend in the last few weeks. In fact, utilities (IDU) gained momentum after the Fed delivered a rate hike in June. Currently, the Utilities Select Sector SPDR ETF (XLU) is trading 3% above its 50-day and 200-day moving average levels. The premium against both of these support levels indicates strength in XLU. The moving average level around $51.5 will likely act as a support for XLU in the short term. XLU closed at $53.0 on August 10.
The Utilities Select Sector SPDR ETF (XLU), a representative of the S&P 500 utilities, fell 0.6% last week and underperformed broader markets. So far in 2018, utilities have largely traded soft and have only risen marginally. Broader markets have risen 6% year-to-date.
Southern Company's subsidiary announced yet another increase in the estimated cost to complete the Vogtle 3 and 4 nuclear units, raising a couple of crucial questions about this megaproject
The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. The current level displays a positive indicator.
ATLANTA, Aug. 10, 2018 /PRNewswire/ -- With Aug. 11 almost here, Georgia Natural Gas hopes this date on the calendar, 8/11, will serve as a natural reminder for residents to call 811 before any digging project to have underground utility lines marked. When calling 811, homeowners and contractors are connected to Georgia 811, the local one call center, which notifies the appropriate utility companies of their intent to dig. Professional locators are then sent to the requested digging site to mark the approximate locations of underground lines with flags, spray paint or both.
The ratings on Cl. A-PO and Cl. D were affirmed due to the sufficiency of the credit support level and the transaction's key metric, the weighted average rating factor (WARF), being within an acceptable range. The rating on the Cl. E was upgraded because of increased credit support resulting from loan paydowns and amortization. The rating on the IO class, Cl. IO, was affirmed based on the credit quality of the referenced classes.
ATLANTA, Aug. 9, 2018 /PRNewswire/ -- Georgia Power and Georgia 811 have teamed up to present a new public service announcement (PSA) for National 811 Day on August 11 ("8-11"). The PSA highlights the importance of contacting 811 to have underground power lines and other buried utilities marked before digging projects. The video features the Georgia 811 mascot – Digger Dog – and demonstrates how quick and easy it is to have underground lines identified.
Southern Company (SO) stock tumbled 4.5% after the utility reported its second-quarter earnings on August 8. The utility reported EPS of -$0.15 for the second quarter compared to EPS of -$1.38 in the comparable quarter last year. After the earnings report, Southern Company stock lost all of its gains this year with a steep one-day fall.
Less than a year ago, Southern Co. officials forged a political and financial deal to continue building a nuclear-power plant beset by cost overruns and delays. The company pledged that a new construction contractor would fix problems that had plagued the project. On Wednesday, Southern said its costs to build the Alvin W. Vogtle Electric Generating Plant had risen again by more than $1 billion and said it would take a charge to its second-quarter earnings to cover the new cost overruns.