COLUMBUS, Ohio, May 13, 2024 /PRNewswire/ -- American Electric Power (Nasdaq: AEP) announced today it will retain its retail energy business, AEP Energy. The company is reaffirming its 2024 operating earnings guidance of $5.53 to $5.73 per share, long-term growth rate of 6% to 7% and FFO/Debt target of 14% to 15%. AEP management will meet with investors tomorrow at the Citi 2024 Energy Conference. The company's updated cash flow forecast is available at https://www.aep.com/investors/ in the investor present ...

COLUMBUS, Ohio, May 13, 2024 /PRNewswire/ -- American Electric Power (Nasdaq: AEP) has entered into an agreement to sell its distributed resources business, AEP OnSite Partners ("OnSite"), to funds advised by Basalt Infrastructure Partners LLC. AEP expects to net approximately $315 million in cash after taxes and transaction fees, subject to customary closing adjustments. The sale is expected to close in the third quarter of 2024, pending regulatory approvals. "I'm grateful to the AEP OnSite Partners team a ...

GAHANNA, Ohio, May 13, 2024 /PRNewswire/ -- AEP Ohio, an American Electric Power (Nasdaq: AEP) company, today filed with the Public Utilities Commission of Ohio in docket 24-508-EL-ATA a proposal that would create a new rate category for data center customers and cryptocurrency mining/mobile data center operations. The proposed rate structure would require new data centers with loads greater than 25 megawatts (MW) and cryptocurrency mining operations/mobile data centers with loads greater than 1 MW to agree ...

The utility sector, which tends to outperform when the economy is in a downturn, staged a nice comeback, gaining 8.5% since the start of April. The solid returns have made it the top-performing S&P 500 sector of the second quarter and the third-best-performing sector year to date. The prospect of rate cuts this year, a slowing economy and solid industry fundamentals buoyed the rally.While many stocks have powered the sector, we have highlighted five that led the way higher in the past month and saw positive ...

Justin Paget/DigitalVision via Getty Images American Electric Power Company, Inc.(NASDAQ:AEP), an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It is one of the largest electric utility companies in the country, with more than five million customers in 11 states. We have started coverage of the company in June 2023 with a hold rating because the fair value range that we ha ...

chonessIntroduction Earlier this year, I sold the only utility stock in my dividend growth portfolio, Duke Energy (DUK). I didn't do it because I disliked the company but because of my view on interest rates and inflation. I'm in the camp that believes in prolonged elevated inflation and interest rates - at least compared to the favorable risk environment between the Great Financial Crisis and 2021. During this period, inflation was subdued, supported by secular tailwinds, including cheap energy prices, ...

American Electric Power Company, Inc. (NASDAQ:AEP) Q1 2024 Earnings Conference Call April 30, 2024 9:00 AM ET Company Participants Darcy Reese - VP, IR Ben Fowke - Interim President, Interim CEO & Director Peggy Simmons - EVP, Utilities Charles Zebula - EVP & CFO Conference Call Participants Jeremy Tonet - JPMorgan Chase & Co. Steven Fleishman - Wolfe Research Jamieson Ward - Guggenheim Securities Durgesh Chopra - Evercore ISI Andrew Weisel - Scotiabank Carly Davenport - Goldman Sachs Group Nicholas Campane ...

American Electric Power Company, Inc. (AEP) reported first-quarter 2024 adjusted earnings per share (EPS) of $1.27, which missed the Zacks Consensus Estimate of $1.30 by 2.3%. However, the bottom line improved 14.4% from $1.11 recorded in the year-ago quarter.The company reported GAAP earnings of $1.91 per share compared with the year-ago quarter’s figure of 77 cents.Total RevenuesAmerican Electric’s first-quarter operating revenues of $5.03 billion lagged the Zacks Consensus Estimate of $5.29 billion by 5. ...

American Electric Power (AEP) reported $5 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 6.4%. EPS of $1.27 for the same period compares to $1.11 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $5.28 billion, representing a surprise of -5.39%. The company delivered an EPS surprise of -2.31%, with the consensus EPS estimate being $1.30.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- ...

American Electric Power (AEP) came out with quarterly earnings of $1.27 per share, missing the Zacks Consensus Estimate of $1.30 per share. This compares to earnings of $1.11 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -2.31%. A quarter ago, it was expected that this utility would post earnings of $1.27 per share when it actually produced earnings of $1.23, delivering a surprise of -3.15%.Over the last four quarters, the c ...