American Electric Power
Generates and delivers electricity across 11 states over America's largest transmission network.
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Profile
Generates, transmits and distributes electricity through regulated utilities serving 11 central and southern states, plus transmission development and a smaller competitive energy business. Earnings are dominated by regulated utility and transmission assets, with customer rates and capital recovery set through state and federal proceedings.
Generates, transmits and distributes electricity through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing. Regulated operating companies serve retail customers across 11 central and southern states, while competitive operations market power and manage risk in regional electricity markets.
Owns and operates America's largest transmission network alongside regulated generation and extensive local distribution systems. Scale and long experience in extra-high-voltage transmission support large grid projects and rising industrial and data-center demand. Earnings are concentrated in regulated utilities and transmission assets. Customer rates, fuel recovery, and returns on capital investment depend on state commission and federal regulatory proceedings.
Company facts
Key statistics
Year to date +5.6% · Average volume (30d) 3.6M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 21, 2026 | Morgan Stanley | Reiterate | Overweight | $139 | $135 | |
| Aug 17, 2026 | Truist Financial | Target | $139 | |||
| Aug 3, 2026 | Barclays | Reiterate | Equal Weight | $138 | $129 | |
| Jul 22, 2026 | Morgan Stanley | Reiterate | Overweight | $129 | $139 | |
| Jul 16, 2026 | Goldman Sachs | Downgrade | Positive | Neutral | $81 | $147 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | $1.48 | $1.36 | −8.1% | $5.34B | $5.45B | +1.9% | −1.25% |
| May 5, 2026Q1 FY26 | $1.57 | $1.64 | +4.5% | $5.72B | $6.02B | +5.3% | −3.27% |
| Feb 12, 2026Q4 FY25 | $1.15 | $1.19 | +3.5% | $4.89B | $5.31B | +8.7% | +2.78% |
| Oct 29, 2025Q3 FY25 | $1.81 | $1.80 | −0.6% | $5.71B | $6.01B | +5.2% | −0.18% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $5.64B | $5.09B | $6.01B | $5.05B | $6.02B | $5.45B | |
| Gross profit | $1.88B | $1.76B | $2.83B | $459.0M | $3.90B | $3.84B | |
| Operating income | $1.46B | $1.40B | $1.52B | $920.9M | $1.36B | $2.58B | |
| Net income | $800.2M | $1.23B | $972.0M | $582.0M | $874.0M | $713.0M | |
| Diluted EPS | $1.50 | $2.29 | $1.81 | $1.07 | $1.60 | $1.30 | |
| Gross margin | 33.3% | 34.7% | 47.0% | 9.1% | 64.8% | 70.6% | |
| Operating margin | 25.8% | 27.5% | 25.3% | 18.3% | 22.6% | 47.5% |
Fiscal years (4-quarter sums)FY21 $16.62B · FY22 $19.31B · FY23 $19.38B · FY24 $19.92B · FY25 $21.78B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $603.0M · Total debt $53.50B · Total assets $121.57B · Shareholders' equity $32.14B
Dividends
Raised for 22 straight years — most recently to $0.95 from $0.93 in Nov 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 10, 2026 | Aug 10 | Sep 10 | $0.95 | |
| May 8, 2026 | May 8 | Jun 10 | $0.95 | |
| Feb 10, 2026 | Feb 10 | Mar 10 | $0.95 | |
| Nov 10, 2025 | Nov 10 | Dec 10 | $0.95 | raised from $0.93 |
| Aug 8, 2025 | Aug 8 | Sep 10 | $0.93 | |
| May 9, 2025 | May 9 | Jun 10 | $0.93 | |
| Feb 10, 2025 | Feb 10 | Mar 10 | $0.93 | |
| Nov 8, 2024 | Nov 8 | Dec 10 | $0.93 | raised from $0.88 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 544.40M · Float 542.64M · 99.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 51.02M | 9.37% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 35.53M | 6.53% | 13F | Aug 13, 2026 |
| State Street Corp | 30.78M | 5.65% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 23.49M | 4.32% | 13F | Aug 13, 2026 |
| Invesco Ltd. | 19.53M | 3.59% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Feb 27, 2026 | Phillip R. Ulrich | officer: Executive Vice President | −4,106 | $132.08 |
| Feb 24, 2026 | Kelly J. Ferneau | officer: Executive Vice President | −1,351 | $131.46 |
| Dec 12, 2025 | Benjamin G. S. Iii Fowke | director | −5,000 | $115.07 |
| Nov 14, 2025 | Benjamin G. S. Iii Fowke | director | −5,000 | $121.58 |
| Oct 10, 2025 | Benjamin G. S. Iii Fowke | director | −5,000 | $117.52 |
Peers
- Duke Energy
8.4M-customer IOU; Ohio/Indiana/PJM overlap; $45B rate-base plan.
- Southern Company
Southeast IOU; 44,000 MW; Vogtle nuclear; 27,000-mile FERC transmission system.
- Exelon
Largest US T&D-only IOU; 10M+ PJM customers; $11.97B transmission rate base.
- Dominion Energy
Virginia IOU; 'Data Center Alley'; ~48.5 GW contracted; $65B 2025–2030 plan.
- NextEra Energy
FPL (5.9M FL) + world's largest renewables platform; 6+ GW data-center backlog.
- Xcel Energy
8-state IOU; 111,000-mile MISO/SPP network; $60B+ capex; first US clean pledge.
- PPL
3.6M-customer IOU (PA/KY/RI); KY generation overlap; PUHCA-lineage AEP link.
- Entergy
Gulf South IOU (AR/LA/MS/TX); SPP/MISO overlap; 2nd-largest US nuclear operator.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| American Electric Power | $125.76 | +2.84% | $66.59B | 21.2 | 18.4 | 3.0 | +7.0% |
| Duke Energy | $120.20 | −0.02% | $93.75B | 18.1 | 17.7 | 2.8 | +1.1% |
| Southern Company | $92.05 | +4.32% | $101.52B | 21.3 | 18.9 | 3.4 | +0.1% |
| Exelon | $44.08 | +0.38% | $45.26B | 16.0 | 14.9 | 1.8 | +10.0% |
| Dominion Energy | $65.52 | −0.02% | $57.63B | 22.8 | 17.1 | 3.1 | +17.6% |
| NextEra Energy | $81.84 | +0.02% | $170.72B | 18.3 | 19.9 | 5.9 | +12.5% |
| Xcel Energy | $76.26 | −0.25% | $47.75B | 20.8 | 18.0 | 3.3 | −5.1% |
| PPL | $34.18 | −0.03% | $25.74B | 20.2 | 16.5 | 3.6 | +4.3% |
| Entergy | $105.75 | +0.03% | $49.35B | 27.1 | 22.6 | 3.7 | +5.9% |
| Median | 20.5 | 17.9 | 3.3 | +5.1% |