$AEP (American Electric Power Co., Inc.)

$AEP {{ '2016-07-28T19:57:15+0000' | timeago}} • Webcast

$AEP said its total debt to capital ratio grew by 0.3% during 2Q16 and remained healthy at 54%. The company's credit metrics, FFO interest coverage, and FFO to debt are solidly in the BBB and Baa1 range at 5.6 times and 20.2%, respectively. $AEP's qualified pension funding remained unchanged for 2Q16 at 94%.

$AEP {{ '2017-09-27T16:27:53+0000' | timeago}} • Announcement

AEP Generation Resources Inc. (AEPGR), a competitive generation subsidiary of $AEP, issued a request for proposal (RFP) for the supply of limestone to Cardinal and Conesville power plants. AEPGR seeks a three-year term, starting in 2018 and continuing through 2020, with unilateral options to renew.

$AEP {{ '2017-08-24T11:14:24+0000' | timeago}} • Announcement

Robert Powers, recently retired VP of $AEP, has joined $ALE BoD. He was elected by the board  on Aug 23, 2017. Powers joins a best-practice governance board at ALLETE.

$PWR {{ '2017-07-31T12:57:28+0000' | timeago}} • Announcement

$PWR said it was selected by $AEP to provide engineering, procurement and construction (EPC) solutions for the Wind Catcher Generation Tie Line. $PWR will provide turnkey EPC services for the entire project and estimates that up to 1,000 people could be working on the project in Oklahoma, supported by technical and engineering operations in Texas.

$AEP {{ '2017-07-25T17:05:36+0000' | timeago}} • Announcement

$AEP's BoD declared regular quarterly cash dividend of 59 cents a share on its common stock. The dividend is payable on Sept. 8, 2017, to shareholders of record as of Aug. 10, 2017.

$AEP {{ '2017-05-16T19:56:10+0000' | timeago}} • Announcement

$AEP said it is seeking offers for the supply of Powder River Basin (PRB) coal to one or more of its generating stations. $AEP is seeking spot delivery proposals for up to 2.25MM tons of PRB coal, FOB rail (joint-line served), beginning in July 2017 and ending in December 2017.

$AEP {{ '2017-05-09T21:11:10+0000' | timeago}} • Announcement

$AEP completed the sale of its 330MW share of the Zimmer Plant to Dynegy and the purchase of Dynegy’s 312MW share of Conesville Plant. The transaction has no material impact on AEP earnings. AEP now owns 92% of Conesville Plant. Stuart Plant is expected to be retired by June 1, 2018.

$AEP {{ '2017-04-27T11:52:59+0000' | timeago}} • Announcement

Electric utility company $AEP said its earnings from Vertically Integrated Utilities segment shrunk 58% to $219.5MM in 1Q17. Meanwhile, in other segments, revenue grew 11.6% in Transmission & Distribution Utilities; it grew 28% in AEP Transmission Holdco segment and 115% in Generation & Marketing segment.

$AEP {{ '2017-04-27T11:47:40+0000' | timeago}} • Announcement

$AEP reaffirmed its FY17 operating earnings guidance in the range of $3.55 to $3.75 per share. Reflecting special items recorded through 1Q17, the estimated earnings per share on a GAAP basis is $3.79 to $3.99.

$AEP {{ '2017-04-27T11:43:12+0000' | timeago}} • Announcement

In spite of a 1% drop in 1Q17 revenue to $3.9Bil, $AEP reported 91% spike in net earnings. Net earnings were $592.2MM or $1.20 per share, compared with $501MM or $1.02 per share in 1Q16. Excluding special items, earnings stood at $0.96 per share.

$AEP {{ '2017-04-25T17:37:21+0000' | timeago}} • Announcement

The BoD of $AEP declared a regular quarterly cash dividend of 59 cents a share on its common stock. The dividend is payable June 9, 2017, to shareholders as on May 10, 2017.

$AEP {{ '2017-03-08T17:31:25+0000' | timeago}} • Announcement

$AEP unveiled a new corporate logo and tagline as part of its focus on providing innovative energy solutions for customers and communities. In addition to the $AEP corporate logo, $AEP's subsidiary logos have been updated with the new look.

$AEP {{ '2017-02-24T15:53:47+0000' | timeago}} • Announcement

$AEP agreed to sell its 330-megawatt (MW) share of the Zimmer Plant to $DYN and to purchase $DYN's 312-MW share of Conesville Plant. $AEP and $DYN co-own both plants. The transactions are expected to close in 2Q17 and will not have a material impact on $AEP earnings.

$AEP {{ '2017-02-22T12:38:37+0000' | timeago}} • Announcement

$AEP said Robert Powers, vice chairman, will retire from the company Aug. 4, 2017. Prior to his current position, Powers was EVP and COO at $AEP for six years. Powers currently serves on the BoD for the Wexner Center for the Arts and the James Cancer Center Foundation Board, both in Columbus, Ohio.

$AEP {{ '2017-01-30T18:01:30+0000' | timeago}} • Announcement

$AEP completed the sale of four competitive power plants to Lightstone Generation LLC, a JV of $BX and an affiliate of ArcLight Capital Partners for approx. $2.1Bil. $AEP will net approx. $1.2Bil in cash after taxes, repayment of debt associated with these assets and transaction fees. $AEP recorded an after-tax gain of about $130MM from the sale.

$AEP {{ '2017-01-26T12:52:38+0000' | timeago}} • Announcement

$AEP expects to complete the sale of its four competitive power plants soon and will reduce debt and reinvest net proceeds from that sale in its regulated businesses to support future earnings growth. The company also wrote down its remaining competitive generation assets in 3Q16 and will continue the strategic review process for those plants.

$AEP {{ '2017-01-26T12:50:46+0000' | timeago}} • Announcement

$AEP reaffirmed its 2017 operating EPS guidance of $3.55-3.75, reflecting dilution from the competitive generation asset sale announced in 3Q16. $AEP also said it expects EPS on a GAAP basis to be in the range of $3.83-4.03 for FY17.

$AEP {{ '2017-01-26T12:45:01+0000' | timeago}} • Announcement

Electric Utilities company $AEP posted a decline in 4Q16 earnings. Net income for the quarter declined 20.48% to $0.37Bil or $0.78 per diluted share from $0.47Bil or $0.96 per share a year ago. Revenue for the quarter rose 5.55% YoverY to $3.8Bil.

$AEP {{ '2017-01-25T12:48:35+0000' | timeago}} • Announcement

The BoD of $AEP declared a regular quarterly cash dividend of $0.59 per share. The dividend is payable on March 10, 2017, to shareholders of record as of Feb. 10, 2017.

$AEP {{ '2016-12-06T19:42:29+0000' | timeago}} • Announcement

$AEP appointed EVP and COO Robert Powers as vice chairman, reporting to CEO Nicholas Akins. Paul Chodak III currently president and COO of Indiana Michigan Power, has been named EVP, Utilities and will report to Powers. Charles Patton, now president and COO of Appalachian Power, has been promoted to EVP - External Affairs for $AEP.

$AEP {{ '2016-11-01T17:14:39+0000' | timeago}} • Announcement

$AEP plans to invest about $17.3Bil over period 2017 to 2019 in its core regulated operations and contracted renewables. $AEP increased capital investment plan includes reinvestment of $2.2Bil in levered proceeds after expected completion of sale of part of its competitive generation portfolio.

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