Microsoft shares jump after fourth-quarter earnings beat on AI-fueled cloud growth
Christopher Cummiskey, Executive Vice President and Chief Commercial Officer of Southern Co (NYSE:SO), a utility giant with a market capitalization of $92 billion and a GOOD financial health rating according to InvestingPro, recently sold a portion of his holdings in the company. According to a recent SEC filing, Cummiskey sold 837 shares of Southern Company common stock on February 4, 2025, at a price of $83.32 per share. The transaction totaled $69,738. The company, known for its impressive 23-year streak of dividend increases and currently offering a 3.46% yield, trades near its 52-week high of $94.45.
Following this sale, Cummiskey’s direct ownership in the company stands at approximately 22,502 shares. Additionally, he holds around 5,663 shares indirectly through a 401(k) plan. The transactions were disclosed in a regulatory filing with the SEC, signed by J. Patrick Becker, acting as Attorney-in-Fact for Cummiskey. Investors watching this development should note that Southern Company is scheduled to report earnings on February 20, 2025. For deeper insights into Southern Company’s valuation and financial health metrics, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Southern Co. has seen a few significant developments. Mizuho (NYSE:MFG) Securities analyst Anthony Crowdel has increased the energy company’s stock price target to $85 from $83, maintaining a neutral rating. This comes after Southern Co.’s subsidiary, GA Power, filed their 2025 Integrated Resource Plan, which includes substantial investments in their existing energy fleet and a proposal to add up to 4,000 megawatts of renewable resources by 2035.
Additionally, Southern Linc, another subsidiary of Southern Co., partnered with Gilat Satellite Networks Ltd (NASDAQ:GILT). and Hispasat to provide vital satellite network capacity for emergency communication in Georgia following Hurricane Helene. Southern Co. also finalized the sale of $565 million in junior subordinated notes, a strategic move to raise capital.
In leadership changes, Stanley W. Connally Jr. is set to become the new Executive Vice President and Chief Operating Officer of Southern Co., effective January 1, 2025. In other news, Santee Cooper, not a Southern Co. subsidiary, has initiated a process to seek proposals for the acquisition and completion of two partially constructed generating units at the V.C. Summer Nuclear Station in South Carolina. These recent developments reflect the ongoing efforts of Southern Co. to enhance its energy portfolio and infrastructure.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.