191.50% in 3 Years: Peconic Hedge Fund’s Top 10 Stock Picks

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7. The Southern Company (NYSE:SO)

Number of Hedge Fund Holders: 29

The Southern Company (NYSE:SO) ranks 7th in Peconic Hedge Fund’s top 10 stock picks. Regulatory filings show that at the end of the first quarter of 2024, Peconic Partners held 76,819 shares of The Southern Company (NYSE:SO), valued at $5,510,995, which made up 0.24% of their portfolio. The Southern Company (NYSE:SO) is the largest electricity producer in the US. It serves 9 million customers across 7 states and offers a diverse mix of power generation assets, including nuclear, wind, and solar. The Southern Company (NYSE:SO) aims for zero carbon emissions by 2050, having recently completed nuclear power plants and planning to retire coal plants by 2028.

According to Dane Bowler, an analyst at 2nd Market Capital Advisory Corp., The Southern Company (NYSE:SO)’s conservative load estimates, strong reputation, and high allowed ROEs suggest it could grow beyond the projected 5%-7%. This makes it a well-priced investment with expected total returns in the low double digits.

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