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Christopher C. Womack, the Chairman, President, and CEO of Southern Co . (NYSE:SO), a $100.5 billion utility giant, recently sold 24,407 shares of the company’s common stock. The shares were sold at a weighted average price of $90.13, resulting in a total transaction value of approximately $2.2 million. According to InvestingPro data, the stock is currently trading near its 52-week high of $94.45. Following this sale, Womack holds 87,720.7006 shares directly. Additionally, he owns 2,499.5374 shares indirectly through a 401(k) plan. The transaction was executed under a pre-arranged 10b5-1 trading plan. Southern Co. maintains strong fundamentals with a "GOOD" Financial Health score and has consistently paid dividends for 55 consecutive years, with 23 years of consecutive increases. InvestingPro analysis reveals 6 additional key insights about Southern Co.’s financial outlook.
In other recent news, Southern Company reported its fourth-quarter 2024 earnings, which missed analyst expectations for earnings per share (EPS) but slightly exceeded revenue estimates. The utility company posted an adjusted EPS of $0.50, falling short of the anticipated $0.53, while revenue reached $6.34 billion, surpassing the forecast of $6.31 billion. For the full year, Southern Company’s operating revenues increased to $26.7 billion, up 5.8% from the previous year. In a separate development, Southern Company issued $1.8 billion in junior subordinated notes, with proceeds likely earmarked for general corporate purposes such as infrastructure investment and debt repayment.
Additionally, Southern Company announced the election of James O. Etheredge as an independent director to its Board of Directors, effective April 1, 2025. Etheredge brings extensive experience from his previous roles at Accenture plc (NYSE:ACN). In analyst-related news, Mizuho (NYSE:MFG) Securities raised its price target for Southern Company shares to $90 from $85, maintaining a Neutral rating. This adjustment follows the company’s announcement of a new capital expenditure plan for 2025 to 2029, totaling $62.8 billion, which represents a significant increase from the prior plan. The company anticipates this investment will drive rate base growth and enhance earnings per share growth.
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