American Electric Power Company (AEP) has had a mixed bag of events recorded in recent times. In the past year, earnings grew at a pace faster than the 25% return delivered to shareholders. The company also saw a high volume of call options trading and a raised target price to $108. Notably, AEP topped the utilities industry on Forbes America's Best Employers for Women List and was recognized as one of America's Best Employers for Diversity. Yet, AEP was downgraded by BofA Securities due to limited catalysts and an unchanged company strategy. The Q2 earnings and revenues exceeded estimates even though the second quarter of 2024 earnings missed expectations. AEP's shares saw an upward gap to $101.79 and achieved a new 1-Year high after strong earnings. On a different note, AEP cut 6% of its workforce through buyouts and aimed at selling its retail, distributed energy and solar operations by mid-2024. The appointment of a new CEO from Phoenix energy and the transition of another CEO were also significant events. Lastly, AEP’s bid to resolve a federal investigation into House Bill 6 role as it seeks a new CEO was a major development.
American Electric Power Company AEP News Analytics from Mon, 06 Nov 2023 08:00:00 GMT to Sat, 10 Aug 2024 11:00:14 GMT -
Rating 1
- Innovation 2
- Information 6
- Rumor -1
