Welcome to our dedicated page for Americn Electric news (Ticker: AEP), a resource for investors and traders seeking the latest updates and insights on Americn Electric stock.
American Electric Power (AEP) provides essential energy services to 5 million+ customers across 11 states through one of America's largest transmission networks. This dedicated news hub offers investors and stakeholders direct access to AEP's official communications, including earnings releases, regulatory updates, and infrastructure developments.
Our curated collection features quarterly financial results, grid modernization initiatives, and clean energy transition plans, all sourced directly from company filings and press materials. Users gain timely insights into operational milestones, rate case resolutions, and strategic investments shaping the future of this electric utility leader.
Bookmark this page for verified updates on AEP's generation portfolio diversification, transmission system expansions, and compliance with evolving energy regulations. Stay informed through primary-source documents that matter for understanding this critical infrastructure provider's market position.
American Electric Power (AEP) plans to fully transition its 2,300 cars and light-duty trucks to electric vehicles (EVs) by 2030, part of a larger strategy to electrify 40% of its vehicle fleet. This shift aims to reduce carbon emissions, with a target of over 80% reduction by 2050. By avoiding over 10 million gallons of fuel, AEP projects savings of $40 million in fuel costs. The company also promotes EV adoption through initiatives like deploying 375 charging stations and offering incentives for charging infrastructure.
American Electric Power (NYSE: AEP) has promoted Daniel L. Snider to vice president of Enterprise NERC Compliance, effective September 28, 2020. Snider, previously managing director of the same department since 2010, will lead AEP's corporate compliance efforts across its 11 utility subsidiaries. His promotion acknowledges the increasing complexity of compliance requirements in the energy sector. With over 33 years at AEP, Snider brings extensive experience in regulatory and transmission policy. AEP serves nearly 5.5 million customers and operates the largest electricity transmission system in the U.S.
American Electric Power Company (NYSE: AEP) will transfer its 6.125% Corporate Units listing from the NYSE to Nasdaq, effective October 1, 2020. The last trading day on NYSE is September 30. Following the transfer, the Corporate Units will trade under new ticker symbols AEPPL and AEPPZ. AEP operates the largest electricity transmission system in the U.S., delivering power to approximately 5.5 million customers across 11 states. The company emphasizes innovative energy solutions and boasts over 30,000 megawatts of generating capacity, including renewable energy sources.
American Electric Power (AEP) will transfer its stock listing from the NYSE to the Nasdaq Global Select Market, effective October 1, 2020. The last trading day on the NYSE is September 30, 2020. AEP, which provides electricity to nearly 5.5 million customers across 11 states, aims to align with Nasdaq's innovation-focused environment. Chairman Nicholas K. Akins stated this move supports AEP's transition to a cleaner energy future while enhancing shareholder value. AEP operates the largest electricity transmission system in the U.S. with significant renewable energy capabilities.
AEP Renewables, a subsidiary of American Electric Power (NYSE: AEP), has acquired Invenergy's 20.1% stake in the Desert Sky and Trent Mesa wind facilities in Texas. This acquisition increases AEP Renewables' ownership of the 170 MW Desert Sky and 156 MW Trent Mesa facilities, enhancing its renewable energy capabilities to meet rising demand. The company is also developing the 128 MW Flat Ridge 3 wind project in Kansas, which will further expand its clean energy portfolio to a total of 1,495 MW. The terms of the acquisition have not been disclosed.
American Electric Power (NYSE: AEP) has announced a pricing of 15 million equity units, totaling $750 million. The offering, set to close on Aug. 14, 2020, features each unit priced at $50, with a 6.125% annual return. AEP intends to use projected net proceeds of approximately $732 million for capital expenditures, debt repayment, and corporate purposes. Underwriters have a 13-day option to purchase an additional 2 million units.
American Electric Power (AEP) announced plans to sell 15 million equity units, totaling approximately $750 million. Each unit priced at $50 includes a contract to purchase AEP common stock in 2023 and a 1/20 interest in a junior subordinated debenture due 2025. AEP anticipates net proceeds of about $732 million, to fund capital expenditures, repay debt, and for general corporate purposes. J.P. Morgan and Mizuho Securities will manage the offering, conducted under an effective shelf registration statement with the SEC.
American Electric Power (AEP) reported 2Q 2020 earnings with GAAP of $521 million or $1.05 per share, up from $461 million or $0.93 per share in 2Q 2019. Operating earnings were $534 million or $1.08 per share, compared to $494 million or $1.00 per share a year ago. Revenue declined to $3.5 billion from $3.6 billion year-over-year. AEP is reaffirming its 2020 operating earnings guidance of $4.25 to $4.45 per share despite challenges from COVID-19 and reports ongoing progress on renewable projects, including $2 billion in North Central wind developments.
AEP Energy Partners (AEPEP), a subsidiary of American Electric Power (NYSE: AEP), is inviting proposals for renewable energy purchase agreements from new solar and repowered wind facilities in the PJM region. The company aims to secure contracts ranging from 10 to 15 years for facilities operational between 2020 and 2023. This initiative supports AEPEP's retail and wholesale demands, including agreements with Google LLC and the Columbus Regional Airport Authority. Bids are due by Aug. 28, 2020, and further details can be found on their website.
