The Southern Company’s SO largest subsidiary, Georgia Power, stated that it has successfully restored power for more than 95% of its customers following the destruction by Hurricane Helene. The company mentioned that it continues to make significant restoration efforts in areas where customers have been affected the most.

Notably, the company has been diligently working to reconnect 80% of the impacted customers in Augusta, one of the hardest-hit regions. However, despite significant progress, approximately 50,000 customers remain without power. Georgia Power is working actively to restore power for all its customers.

Hurricane Helene has wreaked havoc across the state of Georgia. SO stated that no part of the state was spared from destruction. It has reportedly deployed around 20,000 personnel for effective restoration of the power system.

SO’s Zacks Rank and Key Picks

Currently, SO carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the utility sector are Atmos Energy ATO, Xcel Energy XEL and NiSource NI, each presently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Atmos Energy is engaged in regulated natural gas distribution and storage. It boasts nearly 73,000 miles of distribution and transmission mains and a large customer base of 3 million. With the growing demand for clean energy and a large customer base, the company’s outlook seems bright.

Xcel Energy is a utility company in the United States that provides a comprehensive portfolio of energy-related products and services to millions of customers through its regulated operating companies. It expects to deliver enhanced shareholder return by combining earnings growth and dividend yield. XEL aims to deliver long-term annual EPS growth of 5-7% as well as annual dividend hikes of 5-7%, which underscore the company’s confidence in its future earnings potential and operational efficiency.

NiSource is one of the largest natural gas utility companies in the United States. It has a 100% regulated utility business model. The company’s growth strategy revolves around the modernization and replacement of its utility infrastructure alongside complementary system expansions. NiSource expects an annual rate base growth of 8-10% during 2023-2028, driven by its capital expenditures.

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Southern Company (The) (SO) : Free Stock Analysis Report