Top 10 Utility Stocks to Buy Now

8. The Southern Company (NYSE:SO)

Stock Upside Potential: 7.69%

Number of Hedge Fund Holders: 54

Southern Co. (NYSE:SO) is one of the top utility stocks to buy now. On April 9, Barclays reiterated an Equal weight on Southern Co. (NYSE:SO) and raised the price target to $99 from $88. The price target hike aligns with the investment bank’s earnings growth expectations.

Barclays expects the company to reaffirm its fiscal 2026 earnings-per-share guidance of $4.50 to $4.60. The firm expects the company to deliver earnings of $1.20 in the first quarter, slightly below the $1.23 delivered in the same quarter last year and consensus estimates of $1.28 a share.

The investment bank has also touted the company’s push to grow earnings by 8% to 9% through 2028 and by 7% to 8% thereafter. The company is also expected to provide earnings-per-share guidance of $5.25 to $5.45 for fiscal 2028.

Sentiments around earnings growth are supported by the $81 billion that Southern Co intends to spend to consolidate rate base growth of about 9%. The company has also outlined $11 billion in equity financing through 2030.

The Southern Company (NYSE:SO) is a major U.S. energy holding company that provides electricity and natural gas to over 9 million customers, primarily in the Southeast. They operate regulated electric utilities, natural gas distribution companies, and a wholesale energy generation company. Additionally, they provide fiber-optic and telecommunications services and develop, build, and operate energy technologies.