Americn Electric Stock Price, News & Analysis

American Electric Power (Nasdaq: AEP) has appointed Ann P. Kelly as the new executive vice president and chief financial officer (CFO), effective November 30, 2022. Kelly, who previously served as CFO at AmeriGas Propane, will oversee AEP's accounting, treasury, risk, corporate planning, budgeting, and investor relations. She will report to Nicholas K. Akins, AEP's CEO, until January 1, when Julie Sloat transitions to CEO. AEP operates the largest electricity transmission system in the U.S. and aims for significant renewable energy growth by 2030.

American Electric Power (AEP) reported third-quarter 2022 GAAP earnings of $1.33 per share, a decline from $1.59 in Q3 2021. Operating earnings increased to $1.62 from $1.43. Revenue rose to $5.5 billion, up $0.9 billion year-over-year, while operating earnings year-to-date reached $2.065 billion. AEP reaffirmed its 2022 operating earnings guidance, now narrowed to $4.97 to $5.07 per share. The firm plans significant investments, including $40 billion in capital expenditures over the next five years, focusing on renewable energy and grid improvements.

American Electric Power Co. (Nasdaq: AEP) announced on October 25, 2022, a quarterly cash dividend of 83 cents per share, marking a 5 cents increase. This dividend is payable on Dec. 9, 2022, to shareholders of record as of Nov. 10, 2022. This increase aligns with the company's projected operating earnings growth of 6% to 7%. AEP maintains a strong dividend tradition, having paid dividends every quarter since 1910, granting 450 consecutive dividends.

American Electric Power (AEP) will host a quarterly earnings conference call on Oct. 27, 2022, at 9 a.m. ET. The call will be streamed live on AEP's website, featuring audio and visuals from management. AEP operates the largest electricity transmission system in the U.S., serving 5.5 million customers across 11 states, with over 31,000 megawatts of generating capacity, including 7,100 megawatts from renewable sources. The company aims to increase its renewable generation to 50% of total capacity by 2030 and achieve net zero emissions by 2045.

American Electric Power (AEP) has issued a Request for Proposal (RFP) for firm physical natural gas storage service. The RFP is for a two-year term, starting April 1, 2023, and ending March 31, 2025. Interested parties must submit proposals by December 14, 2022. A technical conference will be held on October 25, 2022, at 1:30 p.m. CT. AEP aims for growth in its renewable energy capacity to approximately 50% by 2030, with a target of an 80% reduction in carbon emissions by 2030 and achieving net zero emissions by 2045.

American Electric Power (Nasdaq: AEP) has updated its operating earnings guidance for 2022, now projected between $4.97 and $5.07 per share, with a 2023 forecast of $5.19 to $5.39 per share. The company is prioritizing investments totaling $40 billion from 2023-2027, focusing on transmission, distribution, and renewable energy. AEP has also accelerated its carbon reduction goals, aiming for an 80% reduction in emissions by 2030 and achieving net-zero by 2045. Strategic divestitures are set to streamline the business, enhancing shareholder value.

American Electric Power (Nasdaq: AEP) appointed Juliet Majtenyi as vice president of Project Solutions, Generation, effective Oct. 22, 2022. She replaces Frank Pifer, who retires after over 35 years. Majtenyi will oversee project management and capital excellence activities, reporting to Paul Chodak, executive vice president. Her extensive experience in project controls since joining AEP in 2006 positions her to support AEP's shift toward a cleaner energy future, with plans to increase renewable generation capacity to 50% by 2030.