AEP Positioned Well for Long Term Growth Despite Windcatcher Setback
We are reaffirming our $69 per share fair value estimate, narrow moat and stable moat trend ratings after American Electric Power reported third-quarter operating earnings of $1.26 per share, up sharply from $1.10 per share in the same year-ago period. Management increased and narrowed its 2018 earnings guidance to $3.88 to $3.98 per share, up from $3.75-$3.95 per share. We expect to raise our 2018 EPS estimate in line with management's new target, but don't expect it to materially change our fa...American Electric Power Company is a public utility holding company. The public utility subsidiaries of the company provide electric service, consisting of generation, transmission and distribution, on an integrated basis to their retail customers. The service areas of the company's public utility subsidiaries cover portions of the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia. Transmission networks are interconnected with distribution facilities in the territories served. The company's service company subsidiary provides accounting, administrative, information systems, engineering, financial, legal, maintenance and other services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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