American Electric Power Company, Inc.'s Stock Analysis

AEP Acquires Solid Oxide Fuel Cells for $2.65 Billion

American Electric Power Company (AEP) announced that on January 4, 2026, an unregulated subsidiary executed an unconditional purchase agreement to acquire a significant portion of its option for solid oxide fuel cells. This acquisition is part of the development and construction of a fuel cell generation facility estimated to cost approximately $2.65 billion.

Additionally, AEP has secured a 20-year offtake arrangement with a high investment grade third-party customer for the entire output of the fuel cell facility, which is expected to be located near Cheyenne, Wyoming. This arrangement is contingent on certain conditions that AEP anticipates will be met by the second quarter of 2026. If those conditions are not met, AEP will receive financial compensation for all incurred capital and costs.

Jan 08, 2026 07:30:45

American Electric Power Enters Agreement with Icahn Group

On December 22, 2025, American Electric Power Company entered into a Board Observer Agreement with the Icahn Group, allowing Andrew J. Teno to serve as a non-voting observer on the Board of Directors. This agreement includes standard standstill and mutual non-disparagement clauses, and can be terminated by either party with notice.

Additionally, on December 2, 2025, the Board approved a restructuring of its committees, reducing the number from seven to five, effective July 1, 2026. This includes the elimination of the Finance Committee and the merging of the Nominating and Governance Committee with the Human Resources Committee, which will be renamed. Amendments to the Company’s By-Laws will also take effect on the same date to reflect these changes.

Dec 29, 2025 08:01:30

AEP Grants Special Equity Award to CEO William J. Fehrman

On December 18, 2025, American Electric Power Company’s Board of Directors approved a special equity award for CEO William J. Fehrman. This award includes $10 million in performance shares, which will vest if Mr. Fehrman remains employed until December 31, 2030, and is tied to the company's relative total shareholder return over a five-year period.

Additionally, Mr. Fehrman will receive $5 million in restricted stock units that will also vest on December 31, 2030, contingent on his continued employment with the company. This compensation strategy aims to align Mr. Fehrman's interests with the performance of the company and its shareholders.

Dec 19, 2025 08:00:29

American Electric Power Issues $1 Billion in Junior Subordinated Debentures

On December 3, 2025, American Electric Power Company entered into an underwriting agreement for the sale of $400 million of 5.800% Fixed-to-Fixed Reset Rate Junior Subordinated Debentures, Series C, and $600 million of 6.050% Fixed-to-Fixed Reset Rate Junior Subordinated Debentures, Series D, both due in 2056. This offering will increase the total outstanding principal amount of Series C and Series D Debentures to $1.5 billion each.

The Series C Debentures are part of a series issued on September 25, 2025, and the Series D Debentures are similarly part of the same series. The completion of this offering signifies a significant financial move for the company, which could impact its capital structure and overall financial health.

Dec 05, 2025 15:03:58

American Electric Power Announces $3.5 Billion Stock Sale Agreement

American Electric Power Company has entered into a Distribution Agreement with several financial institutions, allowing the company to sell up to $3.5 billion of its common stock through designated sales agents. The sales may occur through 'at the market offerings' on the Nasdaq Global Select Market or through other negotiated transactions. The company previously had a distribution agreement for $1.7 billion, which has now been terminated.

Additionally, the company may engage in forward stock purchase transactions under separate agreements with the forward purchasers. The initial sale price under these agreements will be based on the volume-weighted average price of shares sold, subject to certain adjustments, including quarterly dividends. The company retains options for cash or net share settlement for these transactions, and the forward purchasers have rights to accelerate the agreements under specified conditions.

Nov 25, 2025 16:23:28

American Electric Power Reports Third-Quarter Earnings and Growth Plans

American Electric Power reported third-quarter 2025 GAAP earnings of $972 million, or $1.82 per share, slightly up from $960 million, or $1.80 per share, in the same period last year. Operating earnings for the quarter were $963 million, or $1.80 per share, compared to $985 million, or $1.85 per share, in the third quarter of 2024. The company reaffirmed its full-year 2025 operating earnings guidance in the upper half of the range of $5.75 to $5.95 per share, with an expectation of continued growth supported by a robust capital plan.

AEP announced a five-year capital plan totaling $72 billion, aimed at enhancing infrastructure to support significant load growth driven by large customers. The plan anticipates a 10% annual growth in the rate base, reaching $128 billion by 2030, and projects a long-term operating earnings growth rate of 7-9% through 2030. AEP is focusing on investments in transmission and generation resources to meet increasing power demands, with a peak system demand projected to rise to 65 GW by 2030 from the current 37 GW.

Oct 29, 2025 07:02:27

American Electric Power Issues $2 Billion in Debentures

On September 23, 2025, American Electric Power Company entered into an Underwriting Agreement to offer $1.1 billion of 5.800% Fixed-to-Fixed Reset Rate Junior Subordinated Debentures, Series C, due in 2056. Additionally, the company is offering $900 million of 6.050% Fixed-to-Fixed Reset Rate Junior Subordinated Debentures, Series D, also due in 2056.

The total offering amounts to $2 billion in debentures, which are intended to be sold through underwriters including BofA Securities, Goldman Sachs, Mizuho Securities, Morgan Stanley, and Truist Securities. These financial instruments may impact the company's capital structure and future financial obligations.

Sep 25, 2025 17:01:33

American Electric Power Reports Record Earnings and Growth Plans

American Electric Power Company reported second-quarter 2025 GAAP earnings of $2.29 per share, significantly higher than the $0.64 per share reported in the same quarter of 2024. The company also announced operating earnings of $1.43 per share, up from $1.25 per share year-over-year. AEP is guiding to the upper half of its 2025 operating earnings guidance range of $5.75 to $5.95 per share and reaffirmed its long-term growth rate of 6% to 8%. The company has secured customer agreements for 24 gigawatts of new load by the end of the decade, an increase from the previous 21 gigawatts, indicating strong demand for its services.

AEP is executing a $54 billion capital plan and expects to announce a new five-year capital plan of approximately $70 billion to meet growing energy needs. Recent legislative actions and regulatory approvals have supported significant infrastructure investments. AEP's financing strategy has strengthened its balance sheet, and the company has completed a transaction with KKR and PSP Investments for a $2.82 billion equity interest in its transmission companies. AEP's strategic focus on customer service and infrastructure investment positions it well for future growth, with a robust pipeline of projects aimed at expanding its transmission capabilities and meeting increasing demand across its service territory.

Jul 30, 2025 07:02:36

Leadership Changes at American Electric Power Company Announced

On July 22, 2025, Sara Martinez Tucker announced her resignation as Chair of the Board of American Electric Power Company, effective July 31, 2025. She clarified that her decision was for personal reasons and not due to any disagreements regarding the Company's operations or policies. Tucker will continue to serve on the Board as the independent Lead Director starting August 1, 2025.

The Board has elected William J. Fehrman as the new Chair, effective August 1, 2025. Fehrman has been a member of the Board since August 2024 and currently holds the positions of Chief Executive Officer and President of the Company.

Jul 23, 2025 09:09:05

AEP Partners with KKR and PSP Investments on Transmission Deal

American Electric Power (AEP) has completed a transaction with KKR and PSP Investments, where the two firms have jointly acquired a 19.9% equity interest in AEP’s Ohio and Indiana Michigan transmission companies for $2.82 billion. This investment will support AEP's five-year capital plan, which totals $54 billion, aimed at enhancing infrastructure and meeting the growing energy demand across its service areas.

The partnership is expected to facilitate further development of AEP's transmission systems to accommodate over 20 gigawatts of new power demand anticipated by the end of the decade. AEP will continue to operate and maintain the transmission facilities, while the investment will aid in the modernization of these systems to improve service reliability for customers in Indiana, Michigan, and Ohio.

Jun 09, 2025 16:24:12