American Electric Power Company (AEP) has seen a flurry of activities impacting its financial performance and market position. The company's use of debt has raised concerns about its risk profile. The enterprise recently paid a
$19M fine to settle with SEC over its
HB6 scandal. Despite this, the company's shares continue to attract substantial investment, with numerous financial entities buying shares, contributing to the 30% return earned by shareholders over the last year. The company has maintained its 113-year dividend streak, with a
$0.93 quarterly payment. Guggenheim has upgraded AEP's stock to 'buy', foreseeing outperformance in utilities by 2025. As it compels its workers to return to office full-time, AEP has also secured a
minority equity interest investment and sold a stake in its transmission businesses to a KKR-PSP consortium for $2.8B. The company has recently announced changes in leadership, with Trevor Mihalik appointed as EVP & CFO. AEP is actively seeking federal grants for advanced nuclear site exploration and is considering further asset sales to boost its capex plan. The company's Q3 2024 earnings missed the target, but the growth rate and capital plan show promise.
AEP sold a 19.9% stake in two transmission assets for $2.82B.
American Electric Power Company AEP News Analytics from Mon, 13 May 2024 07:00:00 GMT to Sat, 25 Jan 2025 14:42:30 GMT -
Rating 7
- Innovation 5
- Information 8
- Rumor -2
