Southern Company (SO) is a leading company which is engaged in electricity distribution as well as natural gas distributor. The company also provides fiber optics network and the communication services to the customers. The company also owns power generation assets. The company believes in clean and carbon-free energy production.
The price of SO stock during the regular trading on December 23, 2021 was $66.54 with a little decline of 0.17%. At last check in the aftermarket, the stock price further declined by 7.6%.
SO: Events and Happenings
On December 24, 2021, a subsidiary of SO and Microsoft co-announced about their latest venture, a $0.2 million investment in Clark Atlanta University. Via this platform, the students will build an innovative solar powered generation platform. The generator will serve the purpose of back-up energy source for the university campus. On December 21, 2021, a subsidiary of SO informed about the grant given to United Negro College Fund to support HBCUs across the state. The grant was given in order to provide under-represented students the equal opportunity to college education.
On December 7, 2021, a subsidiary of SO and Mercedes Benz got a nod from the Alabama Public Service Commission regarding the anticipated 80-megawatt Solar Power Project. On November 30, 2021, a subsidiary of SO and Georgia Aquarium co-announced about adding a new element in southern sea otter display. The novel technology included two interesting games. One which exhibited the role of southern sea otter in minimizing carbon emission and the other one in making the utilization of natural gas carbon neutral.
On November 24, 2021, SO reported about the start of operational facilities of 118-megawatt Glass Sands Wind Facility in Oklahoma. On November 18, 2021, SO and the U.S. Department of Energy have joined hands for the world’s foremost critical fast-spectrum salt reactor. The partnership will be first of its kind of Molten Chloride Reactor Experiment.
On November 12, 2021, SO and Energy Impact Partners co-announced about the launch of company’s Flagship Fund. The Fund received $1 billion for the acceleration of the global decarbonization protocol. On November 8, 2021, a subsidiary of SO announced to release its Request for Proposals (RFP) for 1,030 MW of renewable energy sources for 2023 and 2024.
SO: Key Financials
On November 4, 2021, SO announced its third-quarter 2021 financials for three months ended September 30, 2021. Some of the key updates are as follows
Net Income
Net income reported by the company for Q3 2021 was $1.1 billion as compared to $1.25 billion for the same quarter of 2020. The basic earnings per share for Q3 2021 were $1.04 per share versus $1.18 per for same period prior year.
Conclusion
SO stock is 5% up from the past month but on a declining verge in the aftermarket. Although the current market conditions suit the company in terms of different pipeline collaborations but its stock dropped due to uncertain market conditions. The analysts are confident that the stock will regain its lost momentum rapidly.