Why Southern's Stock Is Trading Lower Today

Southern SO shares are trading lower on Thursday after Mizuho downgraded the stock from Neutral to Underperform and lowered its price target from $53 to $48 per share.

Southern 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 generating capacity, primarily for serving regulated customers in Georgia, Alabama, and Mississippi.

Wholly owned unregulated Southern Power Co. owns over 11 gigawatts of mostly 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.

Southern shares were trading down 2% at $51.71 on Thursday at time of publication. The stock has a 52-week high of $71.10 and a 52-week low of $41.96.