Southern Company Gas elects new board member

ATLANTA - Southern Company Gas announced today that Venessa Harrison, the former president of AT&T’s Southeast Coastal States, has joined its board of directors. Harrison brings a wealth of experience in telecommunications infrastructure and public policy to the natural gas utility company.

During her tenure at AT&T, Harrison led significant projects in Georgia, North Carolina, and South Carolina, overseeing nearly $2 billion in network investments annually. These efforts expanded AT&T Georgia’s fiber network and nearly covered the state’s entire geographic footprint with wireless service. Her leadership in developing the North Carolina Next Generation Network (NCNGN) has been recognized as a model for broadband expansion.

Harrison’s election to the board is part of Southern Company Gas’s strategy to meet increasing energy demands across its service territories. Jim Kerr II, Southern Company Gas Chairman, President, and CEO, highlighted her track record of expanding critical infrastructure and her commitment to community engagement as key reasons for her addition to the board.

In addition to her new role, Harrison serves on several executive boards, including the Metro Atlanta Chamber of Commerce and the Georgia Chamber of Commerce. She is also involved with the Atlanta Committee for Progress, the Georgia Historical Society, and the Georgia Research Alliance. Her past service includes the role of trustee chair of North Carolina A&T, the largest historically Black university in the country.

Harrison’s academic credentials include a magna cum laude degree in business administration from the University of Phoenix. With this appointment, she brings a combination of leadership, expertise in infrastructure development, and a strong community presence to Southern Company Gas.

Southern Company Gas, a subsidiary of Southern Company (NYSE:SO), provides natural gas to approximately 4.4 million customers through its regulated distribution companies and serves over 600,000 retail customers through its gas marketing companies. The company also has interests in interstate pipelines and operates natural gas storage facilities. The parent company has demonstrated remarkable financial stability, maintaining dividend payments for 55 consecutive years and achieving revenue growth of nearly 6% in the last twelve months. InvestingPro analysis reveals several more key insights about Southern Company’s performance and outlook, available in their comprehensive Pro Research Report covering 1,400+ top US stocks.

This board appointment is based on a press release statement issued by Southern Company Gas. With the stock trading near its 52-week high of $94.45 and maintaining a solid dividend yield of 3.25%, investors seeking detailed analysis can access comprehensive metrics and expert insights through InvestingPro’s extensive coverage of Southern Company.

In other recent news, Southern Company has announced an increase in its annual dividend to $2.96 per share, marking the 77th consecutive year of maintaining or increasing its common stock dividend. The company also declared a regular quarterly dividend of 74 cents per share, reflecting a 2-cent increase from the previous quarter. Additionally, Southern Company has entered into an agreement to issue $1.8 billion in junior subordinated notes, with a fixed-to-fixed reset rate of 6.375%, due in 2055. This financial move is expected to support general corporate purposes, including potential infrastructure investments and debt repayment.

In the realm of analyst ratings, JPMorgan upgraded Southern Company’s stock from Underweight to Neutral, raising the price target to $94, citing the company’s defensive characteristics amidst increased recession risks. BofA Securities also raised its price target for Southern Company to $96 while maintaining a neutral rating, noting the company’s strong operational track record and favorable regulatory oversight. In leadership news, Southern Company Gas appointed Walt Farrell as the new CEO for Atlanta Gas Light and Chattanooga Gas, overseeing operations in Georgia and Tennessee.

These developments reflect Southern Company’s strategic efforts in financial management, leadership, and maintaining investor confidence. The company’s consistent performance and strategic initiatives continue to be of interest to investors and analysts alike.

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