Investors need to pay close attention to American Electric (AEP) stock based on the movements in the options market lately.
Utility firm American Electric Power said on Wednesday it has named Bill Fehrman as chief executive officer, effective Aug. 1.
American Electric (AEP) is expected to benefit from its systematic investment plan and renewable portfolio expansion amid the impacts of an increased interest rate environment.
AEP is an electric utilities company with the nation's largest electric transmission system, serving nearly 6M customers in 11 states. AEP reported positive Q1 earnings with revenue growth of 6.4% year over year, aiming for 6-7% EPS growth and a 3% annual base rate increase. Despite interest rate vulnerability, AEP remains undervalued with a fair value estimate of $101 per share based on my dividend discount model.
Now that the year is almost halfway over, it's clear that artificial intelligence (AI) stocks, particularly of the generative variety, are the story of the year.