American Electric Power Navigating Mild Weather; Long-Term Thesis Intact
We are reaffirming our $67 fair value estimate and narrow economic moat and stable moat trend ratings for American Electric Power after the company reported third-quarter operating earnings per share of $1.10 compared with $1.30 in the year-ago period.Management narrowed its 2017 EPS guidance range to $3.55-$3.68 from $3.55-$3.75. We plan on lowering our full-year 2017 earnings estimate as a result of unfavorable weather but don't expect it to alter our fair value estimate. Management reaffirme...
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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