The American Electric Power Company (AEP) has been in various news lately with critical actions affecting its operations and financial status. The firm recently announced a public offering of common stock with a forward component, aiming to raise approximately $2 billion. This development was inordinate due to involvement from multinational law firm Hunton and renowned investors such as KKR-PSP consortium buying a minority stake in two of AEP's transmission companies for $2.8 billion.
Furthermore, the company has named Puesh Kumar as Vice President of National Security and Resilience and Trevor Mihalik as Executive Vice President & Chief Financial Officer. AEP has also committed a significant investment of $1.7 billion towards power grid upgrades to meet rising demand. The company also got recognition among America's best employers and JUST Companies due to repeated solid performances.
However, AEP came under the radar for an entanglement with the Ohio HB6 scandal, resulting in a settlement fee of $19 million with the SEC. Despite this speed bump, analysts have projected bullish sentiments for the company's stock with an increased target set at $111.
American Electric Power Company AEP News Analytics from Thu, 01 Aug 2024 07:00:00 GMT to Thu, 27 Mar 2025 21:05:03 GMT - Rating 7 - Innovation 8 - Information 7 - Rumor 2
