Company Update: American Electric Power Co Inc (NYSE:AEP) – AEP Ohio Moving Forward On Power Purchase Agreement

[PR Newswire] – COLUMBUS, Ohio, March 31, 2016 /PRNewswire/ — American Electric Power’s (AEP) AEP Ohio utility unit received an order from the Public Utilities Commission of Ohio (PUCO) today supporting and modifying AEP Ohio’s expanded Power Purchase Agreement (PPA). “Although the Public Utilities Commission of Ohio modified the settlement agreement, they did recognize the significant benefits of this plan for Ohio consumers. This plan will ensure more stable electricity prices in Ohio and promote the development of new, renewable generation to support the state’s economy,” said Nicholas K. Akins, AEP chairman, president and chief executive officer. Read more on this. American Electric Power Co., Inc. (AEP) , valued at $32.61B, started trading this morning at $66.01. During the trading session, AEP traded between $65.77 to $66.49 with a one year range of $52.29 to $66.49. AEP shares are currently priced at 17.84x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 16.94x forward p/e ratio. And for income investors, the company pays shareholders $2.24 per share annually in dividends, yielding 3.44%. According to a consensus of 12 analysts, the earnings estimate of $1.16 per share would be $0.12 worse than the year-ago quarter and a $0.01 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $3.70, which would be a $0.01 improvement when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $4.56 Billion. If reported, that would be a 2.98% decrease over the year-ago quarter. More recently, Credit Suisse downgraded AEP from Outperform to Neutral (Oct 23, 2015). Previously, Citigroup Initiated AEP at to Neutral. The average price target for AEP shares is $65.53, which is 0.73% below where the stock opened this morning. See more in (NYSE:AEP) Similar Articles: Company Update: American Electric Power Co Inc (NYSE:AEP) – American Electric Power Declares Quarterly Dividend on Common Stock Stock Update (NYSE:AEP): AEP Ohio Files Settlement Agreement On Expanded PPA Company Update (NYSE:DUK): Duke Energy reaches $81 million agreement to end 2008 Ohio lawsuit