American Electric Power Company, Inc. (AEP)

In July 2025, AEP reported strong second-quarter earnings, surpassing expectations, leading to a stock price increase and affirmed its full-year earnings guidance and secured agreements for 24 GW of new load by 2030, and AEP Ohio's data center tariff was approved. In August 2025, the West Virginia commission issued an interim order indicating approval of Appalachian Power Company's securitization proposal. In October 2025, AEP's third-quarter results were mixed, but the company announced an upgraded five-year capital spending plan of $72 billion to meet increasing power demands, reported reaching service agreements for 28 GW of load additions by 2030, and introduced a new long-term operating earnings growth rate of 7-9% over the next five years; TD Cowen upgraded AEP shares to "strong-buy", while BMO Capital downgraded its rating to "Market Perform", and Citigroup maintained a "Neutral" rating and increased its price target. In November 2025, Virginia approved Appalachian Power Company's securitization filing, and Jefferies upgraded AEP's rating from 'Hold' to 'Buy'. In December 2025, Director Benjamin G. S. Fowke III sold 5,000 shares of company stock, JP Morgan maintained a 'Neutral' rating and raised its price target, while UBS maintained a 'Sell' rating and lowered its price target, and news highlighted AEP's investments and renewables as drivers for long-term growth. In January 2026, B of A Securities downgraded AEP's rating from 'Buy' to 'Neutral', the New York State Teachers Retirement System increased its stake in AEP by 12.3%, and AEP's share price was $116.91, marking a 23.66% increase from January 13, 2025.

As an electric utility, AEP's demand for products and services typically exhibits seasonality. Demand tends to peak during periods of extreme weather, such as hot summers due to air conditioning usage and cold winters for heating. AEP is currently experiencing significant load growth, which is among the highest in the utility sector, largely driven by increasing demand from data centers and industrial customers. Forecasted data center demand is expected to be the largest component of retail load growth, suggesting a growing base demand that may somewhat temper traditional weather-driven seasonality, though weather will continue to play a role.

American Electric Power Co., Inc. (AEP) is a major electric utility holding company in the United States, providing electricity generation, transmission, and distribution services. AEP operates as a largely regulated utility, generating and delivering electricity to millions of customers. The company is categorized within the Electric Utilities sector and the "Utility - Electric Power" industry. AEP's diverse portfolio includes regulated utility operations and competitive energy businesses. Its generation capacity is a mix of coal, natural gas, renewable energy and hydro, and nuclear. AEP is committed to modernizing its infrastructure and investing in cleaner energy sources such as wind, solar, and natural gas. Through its subsidiary, AEP Energy, the company also provides competitive retail energy supply.

AEP serves approximately 5.5 to 5.6 million customers across 11 states, covering a service territory of 197,500 to over 200,000 square miles. The states in its service area include Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia, and West Virginia. AEP's utility units operate under names such as AEP Ohio, AEP Texas, Appalachian Power (serving Virginia, West Virginia, and Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (serving Arkansas, Louisiana, and east Texas).

AEP has maintained a strong brand reputation, evidenced by its consistent recognition in various industry rankings. In February 2025, AEP was named to the JUST 100 list for the fifth consecutive year, ranking second in the utilities industry and placing in the top 20 overall. AEP has also been included in Fortune magazine's World's Most Admired Companies list in the electric and gas utilities sector for eight consecutive years. The company actively promotes its mission to provide reliable, affordable, and sustainable energy, alongside its investments in modernizing infrastructure and clean energy. No significant negative events impacting AEP's brand reputation were identified within the past year.

American Electric Power is predominantly owned by institutional investors, who hold approximately 84% to 86.53% of the company's shares. Key institutional shareholders include Vanguard Group Inc., BlackRock, Inc., State Street Corp, GQG Partners LLC, and Wellington Management Group Llp. Insider ownership is minimal, typically ranging from 0.03% to 0.09%. The general public, including retail investors, holds the remaining shares, estimated to be between 16% and 50.84%.