American Electric Power Company, Inc., a favorite among institutional investors who hold around 78% of the shares, has been the subject of much attention recently. The company named a new CEO, Phoenix energy exec, after the previous CEO was removed because the company's strategy remained unchanged. The company also recently appointed two new directors, Chris Brathwaite as CCO and Bill Fehrman, of Centuri. In a bid to cut costs, the company has initiated a voluntary severance programme resulting in six percent of the employees leaving. The company has made bold strides such as selling of its New Mexico solar assets and managing to have its plan approved to double power demands around Columbus, propelled by the necessity of data center needs. Earnings have exceeded Q2 expectations due to ongoing AI demand. Despite recent job cuts and mixed results, its year over year return trends, with shareholders enjoying a 25% return in the last year, point at optimistic signs. Despite fluctuations throughout the year, investing in AEP is viewed as a reliable dividend play with limited upside. Yet, AEP’s strategy of focusing on regulated operations to benefit customers reaffirms its continued growth outlook, expected at a rate of 6% to 7%.
American Electric Power Company AEP News Analytics from Fri, 10 Nov 2023 08:00:00 GMT to Sun, 15 Sep 2024 11:40:45 GMT -
Rating 7
- Innovation 2
- Information 7
- Rumor -2
