Southern Co EVP sells shares worth $100,503 By Investing.com

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Southern Co EVP sells shares worth $100,503

Published Dec 06, 2024 16:04

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Southern Co EVP sells shares worth $100,503

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Martin Bernard Davis, Executive Vice President and Chief Information Officer at Southern Co (NYSE:SO), recently sold 1,170 shares of the company's common stock. The shares were sold on December 5th at a price of $85.90 each, amounting to a total transaction value of $100,503. Following this transaction, Davis holds 88,393 shares in the company. This transaction was conducted as part of a prearranged trading plan.Southern Co, currently valued at $92.8 billion, has demonstrated strong financial stability with a "GOOD" overall health score according to InvestingPro analysis. The company stands out for its impressive 23-year streak of consecutive dividend increases and typically exhibits low price volatility. For deeper insights into insider trading patterns and comprehensive analysis, InvestingPro offers detailed reports covering 1,400+ top US stocks, including Southern Co.

In other recent news, Southern Power, a U.S. wholesale energy provider, has announced the final expansion phase of its Millers Branch Solar Facility in Haskell County, Texas. The Phase III addition will increase the facility’s capacity by 132 megawatts, bringing the total generating capability to 512 MW. This expansion marks the facility as Southern Power's largest solar project to date and is anticipated to be fully operational by the fourth quarter of 2026.

In terms of earnings, Southern Company (NYSE:SO) demonstrated resilience in its Q3 2024 earnings call despite challenges posed by Hurricane Helene. The company reported a slight increase in adjusted earnings for the quarter, rising to $1.43 per share from $1.42 in Q3 2023. Southern Company is also anticipating full-year adjusted earnings of $4.05 per share, despite a 0.4% negative impact from the hurricane.

In addition, recent developments highlight a $3 billion increase in capital investments related to Southern Power projects. Southern Company maintains its long-term growth rate target of 5% to 7% and expects potential load additions in Georgia to exceed 36 gigawatts by the mid-2030s. These are all recent developments that investors should take note of.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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