|Bid||0.00 x 800|
|Ask||0.00 x 1800|
|Day's Range||43.62 - 44.06|
|52 Week Range||42.38 - 53.51|
|PE Ratio (TTM)||52.37|
|Earnings Date||Jul 31, 2018 - Aug 6, 2018|
|Forward Dividend & Yield||2.40 (5.21%)|
|1y Target Est||46.52|
In a somewhat surprising move, Southern company decided to sell off assets worth billions of dollars in a bid to pay down a ballooning debt
ATLANTA, May 23, 2018 /PRNewswire/ -- Georgia Power is experiencing an increase in customer reports of scams by criminals posing as Georgia Power employees. Criminals target both residential and business Georgia Power customers and are known to attempt a variety of scams in person, over the phone and online, including social media. Georgia Power does not demand payment in person at your home or business. If an account becomes past due and is subject to disconnection, Georgia Power will contact the customer via a prerecorded message to the primary account telephone or by letter requesting that the customer call Georgia Power to discuss the account.
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 neutral indicator.
Dominion Energy tells federal regulators that just 21 miles of the proposed $6.5 billion Atlantic Coast Pipeline are affected by a recent court order striking an environmental approval.
Southern Power, a U.S. wholesale energy provider and unit of utility Southern Co. , has reached agreement to sell a 33% stake in its solar portfolio to Global Atlantic Financial Group Ltd. for about $1.2 ...
LONDON, UK / ACCESSWIRE / May 23, 2018 / If you want access to our free research report on NextEra Energy, Inc. (NYSE: NEE) ("NextEra"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=NEE as the Company's latest news hit the wire. On May 21, 2018, the Company announced that it has signed an agreement with Southern Company (NYSE: SO) to acquire several of its assets. The acquisitions include Gulf Power Co., Florida City Gas, as well as Southern Company's stake in natural-gas plants - Plant Oleander and Plant Stanton.
ATLANTA, May 23, 2018 /PRNewswire/ -- Southern Power, a leading U.S. wholesale energy provider and subsidiary of Southern Company, today announced that it has entered into an agreement to sell a 33 percent minority interest in its solar portfolio to Global Atlantic Financial Group Limited for a purchase price of $1.175 billion. "We are excited about our new partnership with Global Atlantic," said Southern Power President and CEO Mark Lantrip.
Understanding how The Southern Company (NYSE:SO) is performing as a company requires looking at more than just a years’ earnings. Today I will run you through a basic sense checkRead More...
NextEra Energy (NEE) will further expand its footprints in Florida through acquisition of some assets from Southern Company for $6.475 billion.
With a mean target price of $170.40 and a current price of $160.20, renewables titan NextEra Energy’s (NEE) stock has a potential upside of ~6.3% for the next 12 months. RBC raised NextEra Energy’s target price from $166 to $170 last week. Of the 14 analysts covering NextEra Energy, four recommend “strong buy,” eight recommend “buy,” two recommend “hold,” and none recommend “sell.”
Southern Company’s (SO) debt has significantly increased in the last few years, particularly after its AGL Resources acquisition. On March 31, it had net debt of around $50.0 billion, compared with $27.0 billion in 2015. Southern Company’s planned asset sale might improve its debt profile to some extent in future quarters.
Top utility stocks NextEra Energy (NEE) and Southern Company (SO) soared 2.4% and 1.7%, respectively, on May 21 after the latter agreed to sell its Florida-based assets to NextEra Energy. The deal has been valued at $6.5 billion including debt and involves the sale of Southern Company’s Gulf Power and Florida City Gas along with its Stanton and Oleander power plants. The Florida City Gas transaction is expected to close by Q3 2018, while the Gulf Power deal is expected to close by the first half of next year.
Southern Company's (SO) divestment deal is likely to enable it streamline its portfolio, boost utility returns, along with raise cash to repay debts and pay for the new reactors.
NextEra Energy Inc. is buying a utility and other Florida assets from Southern Co. for $5.1 billion in cash, in a deal that paves the way for America’s most valuable power company to grow further. While NextEra is laying the groundwork for expansion where it is already the dominant player, Southern is selling assets to strengthen a balance sheet battered by cost overruns at a partially built nuclear power plant in Georgia that is billions over budget and years behind schedule. As part of the deal announced Monday, NextEra said it would issue new debt to purchase Gulf Power, Florida City Gas and partial ownership in two gas-fired power plants from Southern, which is based in Atlanta.
Duke Energy (DUK) is the second-largest utility by market capitalization. Duke Energy stock is trading at a PE ratio of 22.0x. Duke Energy’s five-year historical average valuation is ~21x. The stock appears to be trading at a premium to its historical valuation. Duke Energy’s EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) multiple is 10.5x—compared to its five-year historical average of 11.0x. Duke Energy stock seems to be trading at a discount to its historical average given its EV-to-EBITDA valuation.
US utility stocks have been trading very weak this year. The Utilities Select Sector SPDR ETF (XLU) entered the “oversold” zone last week with its RSI (relative strength index) at 25.
The strength in Treasury yields continued to push US utility stocks lower last week. The Utilities Select Sector SPDR ETF (XLU), which tracks the S&P 500 Utilities Index, fell 2.8% and broader markets fell 0.6% last week.
ATLANTA, May 21, 2018 /PRNewswire/ -- Georgia Power Company today announced the pricing of the previously announced cash tender offers (each, an "Offer" and, collectively, the "Offers") to purchase a portion of its outstanding Series 2007A 5.65% Senior Notes due 2037 (the "Series 2007A Notes"), its Series 2009A 5.95% Senior Notes due 2039 (the "Series 2009A Notes"), its Series 2010B 5.40% Senior Notes due 2040 (the "Series 2010B Notes"), its Series 2010C 4.75% Senior Notes due 2040 (the "Series 2010C Notes") and its Series N 5.750% Senior Notes due 2023 (the "Series N Notes" and, together with the Series 2007A Notes, the Series 2009A Notes, the Series 2010B Notes and the Series 2010C Notes, the "Notes"). Except as described in Georgia Power's prior press release dated the date hereof announcing the early tender results of the Offers and increasing the "Aggregate Maximum Purchase Price" to an amount (excluding accrued and unpaid interest and excluding fees and expenses) sufficient to allow the purchase of $749,913,000 in aggregate principal amount (representing all of the Notes tendered in Acceptance Priority Levels 1, 2 and 3 on or before the Early Tender Deadline (as defined below)), the terms and conditions of the Offers set forth in Georgia Power's Offer to Purchase, dated May 7, 2018 (the "Offer to Purchase") remain unchanged.
NextEra Energy Inc said on Monday it is expanding in Florida by buying some utilities from Southern Co for $5.08 billion, the latest move in a sector consolidating as heavy debt drags on the industry. Consumers, companies and governments across the United States are looking for ways to be more energy efficient, limiting growth and revenue for many power companies. NextEra, the parent of Florida Power and Light Co, said it would buy almost all of Southern's assets, including Gulf Power Co and Florida City Gas.
(Reuters) - U.S. power company NextEra Energy Inc (NEE.N) said on Monday it would buy some assets including Gulf Power Co and Florida City Gas from rival Southern Co (SO.N) for $5.08 billion (3.8 billion ...
Southern Co., which has spent billions of dollars to expand its U.S. utility empire, is now retrenching. The company said Monday it was selling nearly all the assets it owns in Florida to NextEra Energy Inc. for $5.1 billion as it pushes to cut debt from its acquisitions and complete a long-delayed nuclear project. The sale, which includes Gulf Power and Florida City Gas, will allow Southern to trim $3 billion from amount it needs to raise over the next five years.
NextEra Energy Inc. announced a deal Monday to buy Gulf Power, Florida City Gas and two Florida-based natural gas plants from Southern Co. in a deal valued at $6.48 billion, including debt. NextEra expects ...
- Compelling all-cash transactions of attractive electric and natural-gas franchises complement NextEra Energy's existing operations within Florida - NextEra Energy's proven track record of delivering ...