Southern Co
SO: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$13.00 | Knwgfx | Ywxgnfvyq |
Southern Company Earnings: More Capital Investment and Demand Growth Feeds Earnings Outlook
We are reaffirming our $69 fair value estimate for Southern after the company reported $3.65 per share of operating earnings in 2023, up from $3.60 in 2022 and slightly higher than our estimate. On a weather-adjusted basis, earnings were up 6%, in line with our outlook and management's 5%-7% annual growth target. We are reaffirming our narrow moat rating.