The Southern Company (NYSE:SO) is included among the 12 Best Utility Stocks to Buy for Dividends.
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The Southern Company (NYSE:SO) is one of the largest producers of electricity in the United States and the largest wholesale provider in the Southeast. Together with its subsidiaries, the company delivers clean, safe, reliable, and affordable energy to its 9 million customers.
The Southern Company (NYSE:SO) received a lift on October 22 after Morgan Stanley raised the stock’s price target from $92 to $99, while keeping an ‘Equal Weight’ rating on the shares. The revision is a part of the analyst updating its price targets for Regulated & Diversified Utilities / IPPs in North America under its coverage. The analyst firm noted that the utilities sector outperformed the S&P in September. As we head into the third quarter reports, it is expected that a key focus for the sector will be on the evolution of data center pipelines, with the analyst keeping an eye out for commentary around interconnection times.
The Southern Company (NYSE:SO) maintains an impeccable record of cash distributions, and every quarter for the last 78 years, the company has announced a dividend for its shareholders that is equal to or greater than the previous quarter. On October 20, SO announced a quarterly dividend of $0.74 per share.
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