American Electric Power Company, Inc. (AEP) has been the subject of major institutional and individual transactions, with major groups such as the Bessemer Group Inc, Canada Life Assurance Co, Forsta AP Fonden and O Shaughnessy Asset Management invested significant sums. The company also recorded a 52-week high but experienced underperformance compared to competitors on certain days. It announced a quarterly dividend of $0.88 and seems primed for new load driven by data centers from giants like Amazon and Google. Chris Brathwaite has been appointed as the new Chief Communications Officer, resulting in leadership adjustments. AEP is divesting from certain assets, such as the sale of New Mexico Solar Assets, and plans to sell retail, distributed energy and solar operations by mid-2024. A strategic shift is hinted at with a focus on regulated operations. This is supported by the $315 million deal to sell their distributed resource business to Basalt Infrastructure funds. However, there have been regulatory challenges, as evidenced by resolutions sought in an ongoing federal investigation.
American Electric Power Company AEP News Analytics from Mon, 02 Oct 2023 07:00:00 GMT to Sun, 28 Jul 2024 13:49:07 GMT -
Rating 5
- Innovation -2
- Information 6
- Rumor -4
