The Southern Company JR 2017B NT 77 (SOJC) Stock Analysis

Southern Company is a major regulated U.S. utility serving roughly 9 million electric and gas customers across six states. Its core earnings are supported by monopoly electric utilities, regulated gas distribution, and contracted clean-energy assets. SOJC represents Southern’s Series 2017B 5.25% Junior Subordinated Notes due 2077, trading below par with quarterly fixed income. The notes rank junior in the capital structure but benefit from Southern’s stable regulated cash flows, Vogtle nuclear completion, and strong Southeast demand growth.