Southern Reaffirms Earnings Guidance; Waiting on February Vogtle Decision
We are reaffirming our $51 per share fair value estimate for The Southern Company after it reported weaker 2017 third-quarter earnings but reaffirmed full-year guidance. Although management spent a significant portion of the 90-minute conference call on the status of the half-finished Vogtle Nuclear Plant, they didn’t reveal any material new information, in our opinion.Georgia Public Service Commission, or PSC, hearings on the project commence Nov. 6, and we expect a regulatory decision on the ...
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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