American Electric Power Company (AEP) has made a series of strategic moves to enhance its business performance and future stability. The company filed a substantial proposal of acquiring diverse energy generation to meet future needs, and also aimed to acquire an Ohio Gas Plant, and a major stake in Oregon Clean Energy Center. AEP recorded an EPS increase of 31% in the 2024 earnings report, demonstrating effective financial management. AEP embarked upon multiple leadership changes, including naming Puesh Kumar the VP of National Security and Resilience, and appointing seasoned energy executive Trevor Mihalik the EVP & CFO. The company offered a public offering of common stock with a forward component, sold a minority stake in two of its transmission companies to KKR-PSP consortium for $2.8B, and even explored advanced nuclear site opportunities. AEP has also revealed plans to invest $1.7 billion in power grid upgrades, demonstrating its focus on meeting rising demand. However, AEP faced some controversy as they paid a multimillion-dollar fine for their role in the Ohio HB6 scandal, and were charged with a $19 million SEC settlement. Nevertheless, with a 78% institutional ownership, AEP remains favorable among big investors.
American Electric Power Company AEP News Analytics from Tue, 30 Jul 2024 07:00:00 GMT to Fri, 11 Apr 2025 19:58:07 GMT -
Rating 8
- Innovation 5
- Information 8
- Rumor -3
