The Southern Company (NYSE:SO) traded at a new 12-month high today of $71.45. Approximately 1.1 million shares have changed hands today, as compared to an average 30-day volume of 6.3 million shares.
The Southern Company is currently priced 0.5% above its average consensus analyst price target of $71.01.
The Southern Company is one of the largest utilities in the U.S. The company distributes electricity and natural gas to approximately 9 million customers in nine states. It owns 50 gigawatts of rate-regulated generating capacity, primarily for serving customers in Georgia, Alabama, and Mississippi. Subsidiary Southern Power Co. owns 12 gigawatts of mostly non-rate-regulated renewable energy capacity and sells the electricity primarily under long-term power sales agreements. The solar and wind farms are located in Southern’s regulated jurisdictions but also in Texas, California, and other states.
In the past 12 months, shares of The Southern Company have traded between a low of $60.12 and a high of $71.45 and are now at $71.37, which is 19% above that low price.
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