Management Meeting: Increased Confidence Southern Can Complete Vogtle Within New Budget
We are reaffirming our narrow moat and stable moat trend ratings and $51 fair value estimate for Southern after meeting with the company's management at the Edison Electric Institute Financial Conference in Orlando, Florida. We thought one of the most interesting comments from management addressed the selection of Bechtel as the new construction manager for the Vogtle nuclear plant project.CFO Art Beattie said a key reason for Bechtel’s selection was its success in completing the Watts Bar Uni...
Southern is a holding company. Through its subsidiaries, Alabama Power Company, Georgia Power Company, and Mississippi Power Company, the company is engaged in the generation, transmission, distribution, and purchase of electricity and the sale of electric service in Alabama, Georgia, and Mississippi. The company's Southern Power Company subsidiary develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects, and sells electricity at market-based rates in the wholesale market. The company's Southern Company Gas subsidiary is an energy services holding company whose primary business is the distribution of natural gas in Illinois, Georgia, Virginia, and Tennessee.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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