southern company issues

Some better-ranked players in the same industry include NRG Energy, Inc. (NRG - Free Report) and TerraForm Power, Inc., each sporting a Zacks Rank #1 (Strong Buy). You'll want to pay close attention to it. These returns cover a period from January 1, 1988 through October 5, 2020. However, because of some headwinds from COVID-19 and other issues, the utility only expects to generate $3.10 to $3.22 per share of adjusted earnings. 03-593-299999-001-4 IBAN: PK06SBPP0035932999990014 See Zacks' 3 Best Stocks to Play This Trend >>, Navigating the Market as the U.S. Economy Recovers. Southern Company today released a report on its progress and plans toward the company’s goal of net zero greenhouse gas emissions by 2050. The project’s cost is soaring to $25 million, thereby increasing its credit risk. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. The monthly returns are then compounded to arrive at the annual return. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms and Conditions of Service. By 2020, it's predicted to blast through the roof to $47 billion. Southern Company Gas; POWR Historic Stock Pricing; Stock Information Financial Information . Further, it will also purchase Florida City Gas, which supplies natural gas to approximately 111,000 residential and commercial consumers in four counties along the state’s East Coast.Apart from these holdings, NextEra will buy Southern Company’s entire stake in Oleander Plant — a 791-MW gas-fired simple-cycle combustion turbine power plant — which the latter purchased from Constellation Energy Group in 2005. “They have several other utilities, and they’re based not only in the Southeast. the complete list of today’s Zacks #1 Rank stocks here. To learn more, click here. The Southern Company system has made tremendous progress toward this goal, having decreased carbon emissions by 44 percent through 2019. Moreover, NextEra will also assume the $1.4 billion debt burden of Gulf Power, raising the total consideration to $6.5 billion.NextEra will be acquiring the Florida-based utility, Gulf Power, which serves around 450,000 customers in eight counties in Northwest Florida. It is also seeking $1 billion in third-party tax equity financing for its wind projects.Thus, apart from bolstering its financial strength, the deal will streamline Southern Company’s portfolio and enable the company to forge ahead with its Vogtle Project more effectively. How Marcellus Shale drillers are faring in challenging times. Why Is Sovereign Immunity On The Georgia Ballot? How To Help Scientists Find The Big, Colorful Spiders Invading North Georgia, Elections Could Change Makeup Of Cobb, Gwinnett School Boards. © 2020 Southern Company. After Nearly 14 Months, Shipwreck Near St. Simons Could Start Getting Sliced Up Soon. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. Southern Company brands are known for excellent customer service, high reliability and affordable prices below the national average. Atlanta-based Southern Company has two high-profile, multibillion-dollar projects that are running into issues. “While environmental, social and governance (ESG) issues have received increasing attention by investors over the past few years, at Southern Company these issues have always received the heightened attention they deserve. Southern might need to make similar moves so that it has the financial flexibility to transition from fossil fuels to emissions-free sources over the next few decades. Meanwhile, its high payout ratio and deteriorating credit quality could eventually force it to reverse course on the dividend so that it has the flexibility needed to finance its net-zero pledge. Subscribe to Conrad’s Utility Investor here…. Like us on Facebook. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. Utilities like Southern Company (NYSE:SO) don't offer the high-powered growth potential of other stocks. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>, NextEra Energy, Inc. (NEE) - free report >>, Southern Company The (SO) - free report >>. The Most (and Least) Energy-Expensive States. “I continue to be confident that we are prepared and well-positioned to meet the needs of our customers, employees, communities and investors well into the future and will succeed in this transition,” said Tom Fanning, chairman, president and chief executive officer of Southern Company. ZacksTrade and are separate companies. Visit performance for information about the performance numbers displayed above. The report – called the Implementation and Action Toward Net Zero — provides details on the company’s plan to decarbonize. Both Oleander and Stanton Plants have dual fuel power, with distillate as the backup fuel.Subject to approvals from Federal Energy Regulatory Commission (FERC) and Federal Trade Commission, the acquisition of Gulf Power and Stanton/Oleander facilities is set for closure in the first half of 2019. In fact, the company is planning to offload its interests in its solar projects as well as raise another $1 billion. The Southern Company issued an update on its progress toward its goal of net zero greenhouse gas emissions by 2050. Utility consumers and the Smart Energy Consumer Collaborative, DTE takes prominent role in public-private effort to protect grid from cyber attacks on EVs, Ameren gets set to transform into a clean energy machine, U.S. utility-scale battery storage costs dropped thousands of dollars per kWh between 2015-2018, Hawaiian Electric to shut down oil-fired plants as it transitions to renewables, CenterPoint Energy seeks to minimize methane emissions in Minnesota through new vacuum pump procedure, Florida Power and Light touts $5B spent on grid reliability efforts over last 15 years, NYS Public Service Commission to identify transmission projects to meet clean energy goals, Florida Power & Light to build 14 new solar energy centers, Eversource creates online hub for energy efficient services with City of Boston, Legislation seeks to develop carbon removal technology, Jersey Central Power & Light gets go ahead for rate increase, Pepco proposes multi-year grid modernization initiative in Maryland, Dayton Power & Light to invest $249M in grid upgrade, Too soon to predict FERC Order 2222’s effect on reaching net-zero, panelists say, Southern Company issues update on progress toward net zero emissions.

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