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Southern Company’s (NYSE:SO) Chairman, President, and CEO Kimberly S. Greene has sold a significant portion of her company stock, according to a recent SEC filing. The utility giant, currently valued at $101 billion, has maintained a strong financial health score of "GOOD" according to InvestingPro analysis. On March 10, Greene disposed of 32,190 shares of Southern Company common stock. The shares were sold at a weighted average price of approximately $93.12, resulting in a total transaction value of around $2.99 million. Following this sale, Greene retains ownership of 106,819 shares in the company. The transactions were conducted under a pre-arranged trading plan. The stock is currently trading near its 52-week high, with a P/E ratio of 22.9x, and offers a 3.1% dividend yield, having maintained dividend payments for 55 consecutive years. InvestingPro’s Fair Value analysis suggests the stock is currently overvalued. For deeper insights and additional ProTips about Southern Company, including exclusive financial metrics and comprehensive analysis, check out the full research report on InvestingPro.
In other recent news, Southern Company reported its fourth-quarter 2024 earnings, which fell short of analyst expectations. The company’s adjusted earnings per share (EPS) were $0.50, missing the estimated $0.53, while revenue slightly exceeded forecasts, reaching $6.34 billion compared to the expected $6.31 billion. For the full year, Southern Company posted earnings of $4.4 billion, or $4.02 per share, up from $4.0 billion, or $3.64 per share, in 2023. In another development, 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. The proceeds from this issuance are expected to support general corporate purposes. Additionally, Mizuho (NYSE:MFG) Securities raised its price target for Southern Company to $90 from $85, maintaining a Neutral rating, following the company’s announcement of a capital investment plan of $62.8 billion for 2025 to 2029. The plan is anticipated to boost the company’s rate base growth and sales. Lastly, Southern Company announced the election of James O. Etheredge as an independent director to its Board of Directors, effective April 1, 2025, bringing his extensive experience from Accenture (NYSE:ACN) to the board.
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