Market Update: The Southern Company (NYSE:SO) – Southern Company subsidiary completes issuance of €1.1 billion of Green Bonds

[PR Newswire] – ATLANTA, June 20, 2016 /PRNewswire/ — Southern Company subsidiary Southern Power has completed the issuance of €1.1 billion aggregate principal amount of Green Bonds, furthering the company’s commitment to supporting investment in sustainable generation. The Green Bond issuance underscores the company’s commitment to innovation as the Southern Company system further develops the full portfolio of energy resources. “Southern Power is an industry leader in growing renewable energy projects across the United States,” said Southern Power President and CEO Buzz Miller. Read more on this. Southern Company (SO) , valued at $47.81B, opened this morning at $51.00. Looking at the equity, the company’s one day range is $50.42 to $51.15 and has traded between $41.40 and $51.79 over the past year. SO shares are currently priced at 17.95x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 15.26x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $2.24 per share annually in dividends, yielding 4.66%. In a review of the consensus earnings estimate this quarter, 11 sell-side analysts are looking at $0.69 per share, which would be $0.02 worse than the year-ago quarter and a $0.03 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $2.85, which would be a $0.04 setback when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $4.54 Billion. If reported, that would be a 4.61% increase over the year-ago quarter. Recently, Scotia Howard Weil Initiated SO at Sector Perform (May 13, 2016). Previously, Mizuho Initiated SO at to Buy. The average price target for SO shares by the analysts covering it is $49.67, which is 2.61% below where the stock opened. See more in (NYSE:SO) Similar Articles: Market Update: The Southern Company (NYSE:SO) – Southern Company subsidiary acquires East Pecos Solar Facility in Texas Stock Update (NYSE:SO): Southern Company subsidiary and Turner Renewable Energy acquire Calipatria Solar Facility in California Stock Update (NYSE:SO): Southern Company subsidiary awarded grant to lead advanced nuclear technology development