Southern Co Issues $1.3 Billion Subordinated Notes

The latest announcement is out from Southern Co ( (SO) ).

On March 16, 2026, The Southern Company entered into an underwriting agreement with a syndicate of major investment banks to issue and sell $1.3 billion of its Series 2026A 6.00% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due April 1, 2058. The notes, registered under the Securities Act via an existing shelf registration, enhance the company’s long‑term capital structure with deeply subordinated debt that may support financing flexibility and balance sheet management over the coming decades.

The most recent analyst rating on (SO) stock is a Hold with a $103.00 price target. To see the full list of analyst forecasts on Southern Co stock, see the SO Stock Forecast page.

Spark’s Take on SO Stock

According to Spark, TipRanks’ AI Analyst, SO is a Neutral.

The score is driven primarily by mixed financial quality: stable utility earnings but high leverage and weak/volatile free cash flow. Offsetting this, technical trends are strong and the latest earnings call outlined above-average multi-year EPS and sales growth supported by a large contracted load pipeline, while valuation is balanced by a solid dividend yield but a relatively high P/E.

To see Spark’s full report on SO stock, click here.

More about Southern Co

The Southern Company is a U.S.-based energy utility holding company that primarily generates, transmits and distributes electricity and related energy services. It operates through regulated utilities and affiliates serving retail and wholesale power customers, positioning it as a major player in the North American power and utilities sector.

Average Trading Volume: 5,883,441

Technical Sentiment Signal: Strong Buy

Current Market Cap: $108.1B

Find detailed analytics on SO stock on TipRanks’ Stock Analysis page.