Company Reports

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.

We are reaffirming our $90 per share fair value estimate after American Electric Power reported first-quarter operating earnings of $1.27 per share, compared with $1.11 in the prior-year period. AEP reaffirmed its 2024 per share earnings guidance range of $5.53 to $5.73, in line with our expectations. Our 6% annual earnings growth outlook remains unchanged, at the low end of management's 6% to 7% guidance through 2028.

We are reaffirming our fair value estimates and economic moat ratings for US utilities after executives at the Electric Reliability Council of Texas on Tuesday forecast an extraordinary jump in electricity demand in the state during the next five years.

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.

We are reaffirming our $90 fair value estimate after narrow-moat American Electric Power reported full-year operating earnings per share of $5.25, compared with $5.09 in the year-ago period.

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.

We are lowering our American Electric Power fair value estimate to $90 per share from $97 after management provided numerous financial updates at the Edison Electric Institute Financial Conference in Phoenix, Arizona. Our narrow moat rating remains unchanged.

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.

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.

We are reaffirming our fair value estimates and economic moat ratings for all U.S. utilities after the sector fell nearly 5% on Monday. We think the sector's 11% drop since last week offers a rare opportunity for investors to buy high-quality utilities at very attractive prices.

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.

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.

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.

We are reaffirming our $97 fair value estimate for American Electric Power after reviewing recent developments across several of the company's service territories.

We are reaffirming our $97 per share fair value estimate after American Electric Power, or AEP, reported first-quarter operating earnings of $1.11 per share, compared with $1.22 in the same year-ago period.

We are reaffirming our $97 per share fair value estimate after American Electric Power announced that it had mutually agreed to terminate the planned sale of its Kentucky Power operations to Liberty. Our narrow moat and stable moat trend remain unchanged.

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.

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.

American Electric Power operates numerous utilities, providing investors protection from any one adverse regulatory ruling.

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.