Market Update: American Electric Power Co Inc (NYSE:AEP) – AEP Expects Today’s Ohio Supreme Court Decisions To Financially Offset After Remand

[PR Newswire] – COLUMBUS, Ohio, April 21, 2016 /PRNewswire/ — Two decisions today from the Ohio Supreme Court upheld capacity cost charges for American Electric Power’s (AEP) AEP Ohio utility unit, but rejected a part of AEP Ohio’s retail stability rider (RSR) competitive transition charge. The full impact of today’s decisions will be determined after remand to the Public Utilities Commission of Ohio (PUCO), but the company expects the net financial result will be minimal. The Supreme Court decision rejecting a portion of AEP Ohio’s RSR requires the PUCO to decrease AEP Ohio’s capacity deferral balance. Read more on this. American Electric Power Co., Inc. (AEP) , with a current market cap of $30.57B, began trading this morning at $63.60. Looking at the equity, the company’s one day range is $62.01 to $63.60 with a one year range of $52.29 to $67.19. American Electric Power (AEP) shares are currently priced at 17.22x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 17.29x earnings multiple for the same period. The company pays shareholders $2.24 per share annually in dividends, yielding 3.40%. In a review of the consensus earnings estimate this quarter, 13 sell-side analysts are looking at $1.07 per share, which would be $0.21 worse than the year-ago quarter and a $0.08 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $3.70 would be a $0.01 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $4.49 Billion. If realized, that would be a 4.47% decrease over the year-ago quarter. In terms of ratings, Credit Suisse downgraded AEP from Outperform to Neutral (Oct 23, 2015). Previously, Citigroup Initiated AEP at to Neutral. The average price target for AEP shares by the analysts covering it is $67.50, which is 6.13% above where the stock opened. See more in (NYSE:AEP) Similar Articles: Company Update: American Electric Power Co Inc (NYSE:AEP) – AEP Names Julie Sloat President And COO Of AEP Ohio Company Update: American Electric Power Co Inc (NYSE:AEP) – AEP Ohio Moving Forward On Power Purchase Agreement Company Update: American Electric Power Co Inc (NYSE:AEP) – American Electric Power Declares Quarterly Dividend on Common Stock