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Stock Analyst Note

With the U.N. Climate Change Conference, otherwise known as COP28, starting this week, we are reasserting our view that the market underappreciates utilities' critical role in limiting global warming.
Company Report

American Electric Power operates numerous utilities, providing investors protection from any one adverse regulatory ruling. Nearly all of the company’s $43 billion capital investment plan from 2024-28 focuses on regulated investments.
Stock Analyst Note

We are reaffirming our $97 per share fair value estimate after American Electric Power reported third-quarter operating earnings of $1.77 per share, compared with $1.62 in the same year-ago period. The company narrowed its full-year guidance range to $5.24 to $5.34 from $5.19 to $5.39. Increasing our full-year estimate to within the narrowed range will not affect our fair value estimate.
Company Report

American Electric Power operates numerous utilities, providing investors protection from any one adverse regulatory ruling. Nearly all of the company’s $40 billion capital investment plan through 2027 focuses on regulated investments, supporting annual earnings growth within management's 6%-7% target.
Stock Analyst Note

We are reaffirming our $97 per share fair value estimate after American Electric Power, or AEP, reported second-quarter operating earnings of $1.13 per share, compared with $1.20 in the same year-ago period. The company reaffirmed its full-year $5.19 to $5.39 earnings per share guidance range, consistent with our expectations.
Company Report

American Electric Power operates numerous utilities, providing investors protection from any one adverse regulatory ruling. Nearly all of the company’s $40 billion capital investment plan through 2027 focuses on regulated investments, supporting annual earnings growth within management's 6%-7% target.
Company Report

American Electric Power operates numerous utilities, providing investors protection from any one adverse regulatory ruling. Nearly all of the company’s $40 billion capital investment plan through 2027 focuses on regulated investments, supporting annual earnings growth within management's 6%-7% target.
Stock Analyst Note

We are reaffirming our $94 fair value estimate for American Electric Power after the company reported full-year operating earnings per share of $5.09 compared with $4.74 in 2021. Management reaffirmed its 2023 operating EPS guidance of $5.19-$5.39.
Stock Analyst Note

We are reaffirming our $92 fair value estimate for American Electric Power after the company reported third-quarter operating earnings per share of $1.62, compared with $1.43 in the year-ago period. Management reaffirmed its recently narrowed 2022 operating EPS guidance range of $4.97-$5.07 and its 2023 operating EPS guidance of $5.19-$5.39. Both are consistent with our estimates. Our narrow moat and stable moat trend ratings are unchanged.

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