Rejection of AEP's Wind Catcher project has no impact on our fair value estimate.
We are reaffirming our $69 per share fair value estimate, narrow moat and stable moat trend ratings after American Electric Power canceled the proposed Wind Catcher Energy Connection project. The Public Utility Commission of Texas rejected the project on July 26.We were hopeful AEP's proposed 2,000 MW Wind Catcher project would receive regulatory support, but that was swiftly brought to an end after regulators in Texas denied approval for the project. Texas regulators noted the insufficient con...
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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