Southern Reports Strong Q3 and Initiates Bullish 2017 Earnings Guidance
We expect to maintain our $48 fair value estimate and stable, narrow moat rating for Southern after the company reported strong third-quarter earnings and initiated 2017 adjusted earnings guidance of $2.90-$3.02 per share at the company's analyst day presentation. The 2017 guidance is in line with our estimate of $2.97 per share and at the top end of the 4%-5% range for EPS growth rates that was established when Southern acquired AGL Resources.We expect capital expenditures to move lower in 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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