SOUTHERN CO
boothcheck covers SOUTHERN CO (SO) but does not put one priced-in number on it: here the defensible answer is the evidence rather than a point estimate. boothcheck publishes no house fair value, target price, or buy/sell rating. Narrative composed July 11, 2026.
• Southern is the rare utility with a genuine order book: over 11 gigawatts of contracted large-load capacity across 28 projects, first-quarter data center power usage up 42 percent year over year, and 10 gigawatts of generation under construction with an RFP filed for 2 to 6 more by 2033 [Source: Q1 2026 results and Utility Dive, May 2026]. • The risk is that regulators, not markets, set the margin: the 10-K concedes commissions may not approve ⟦"full recovery of the costs of providing utility
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2,304 institutional managers reported holding SO in 13F filings for the quarter ended 2026-03-31. Together they hold about 66% of the company; the top 10 hold 40%. 188 opened new positions that quarter. Held by Vanguard Group, BlackRock, State Street, among others. On the short side, 30.5M shares were sold short as of the 2026-06-15 count, about 3% of shares outstanding (4.8 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
SO's share count grew 5.9% over the past five years. It pays a dividend, and has paid one every year in our records (18 and counting); the current rate is $2.94 a share annually. Cash returned over the past three years: $8.27B in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at SO over the trailing three years. Absence is a fact about the company, not a signal. 29 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
SO's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2022-04-29 | -0.1% | -0.3% |
| 2022-07-29 | +5.0% | -11.5% |
| 2022-10-28 | +1.2% | +7.6% |
| 2023-02-17 | -0.2% | +10.5% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
SO's latest 8-K filings: 2026-08-06 (items 2.03, 3.02, 9.01); 2026-08-04 (items 8.01, 9.01); 2026-08-03 (items 8.01, 9.01); 2026-07-30 (items 2.02); 2026-06-08 (items 8.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 11, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.