Southern Co. will sell nearly all the assets it owns in Florida to NextEra Energy Inc. for $5.1 billion as the utility owner pushes to cut debt and pursue a long-delayed nuclear project.
The sale, which includes Gulf Power and Florida City Gas, comes as Atlanta-based Southern has been forging ahead with plans for the first new U.S. nuclear power plant in decades, a project that’s faced construction delays and costs that have soared to more than $25 billion.
Earlier this month Chief Executive Officer Tom Fanning told investors that Southern, which is down 10 percent this year, needed to raise cash to cut debt, boost utility returns and pay for the new reactors. NextEra, meanwhile, is buying into a region it knows well.
“NextEra’s been in the market for a big acquisition for a long time,” Andrew Bischof, an analyst at Morningstar Inc., said in a interview. “For all the transactions that NextEra has gone after, this one makes the most sense.”
Top Energy Stocks To Invest In Right Now: Vanguard Value ETF (VTV)
- [By Logan Wallace]
Dynamic Advisor Solutions LLC bought a new stake in Vanguard Value ETF (NYSEARCA:VTV) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,421 shares of the company’s stock, valued at approximately $353,000.
Top Energy Stocks To Invest In Right Now: Aurinia Pharmaceuticals Inc(AUPH)
- [By Logan Wallace]
Isotechnika Pharma Inc. (NASDAQ:AUPH) (TSE:AUP) shares rose 6.7% during trading on Friday . The stock traded as high as $5.68 and last traded at $5.59. Approximately 54,590 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 429,596 shares. The stock had previously closed at $5.24.
- [By Cory Renauer]
Shares of Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH),a clinical-stage biotech, are on the rise following the company’s first-quarter earnings report. Plans to expand voclosporin, the company’s lupus candidate, to a much larger indication inspired investors to push the shares 10.2% higher as of 1:03 p.m. Monday.
- [By Keith Speights]
That statement comes to mind when I think about Aurinia Pharmaceuticals (NASDAQ:AUPH). The potential for the clinical-stage biotech appears to be so great that getting greedy with the stock is tempting.
Top Energy Stocks To Invest In Right Now: Medidata Solutions, Inc.(MDSO)
- [By Ethan Ryder]
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