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Thu, Jan. 28, 7:06 AM
Wed, Jan. 27, 5:30 PM
- ABT, ACAT, ADS, AEP, AIT, AN, ARG, AUO, AVT, BABA, BANC, BC, BHI, BLL, BMS, BMY, BOFI, BX, CAT, CELG, CHKP, CLFD, CRR, CSH, CY, DGX, DLX, DST, EPD, EXTR, F, FCFS, FCS, FLWS, GLOP, GNTX, HAR, HCA, HGG, HOG, HP, HSY, HUBB, INGR, IVZ, JBLU, JCI, KEM, LEA, LLL, LLY, LRN, MITK, MJN, MKC, MMYT, MO, MTH, NDAQ, NEE, NOC, NTCT, NUE, ORI, OSK, PHM, POT, RDN, RGS, RTN, SHW, SWK, SXC, TCB, TGI, TMO, TROW, TWC, UA, UBSI, VLO, WCC, WRLD, XEL, ZBH
Mon, Jan. 25, 2:51 PM
Mon, Jan. 25, 11:18 AM
- EnerNOC (ENOC +53.1%) surges more than 50% after the U.S. Supreme Court upholds a federal rule that pays large users to conserve power.
- The Court says the FERC acted within its authority with its Demand Response Rule, which helps large consumers reduce their power use.
- "This case has been an overhang for the industry of demand response for a number of years, so to have a final resolution at the highest court in the land is a huge victory," ENOC President David Brewster tells Bloomberg.
- U.S. power producers that sell into competitive markets such as include NRG Energy (NRG -6.7%), Exelon (EXC -2.1%), Dynegy (DYN -9.1%), Calpine (CPN -5.7%) and American Electric Power (AEP -0.9%) would have benefited if the rule was eliminated.
Dec. 14, 2015, 6:37 PM
- American Electric Power (NYSE:AEP) says it reached agreement with Ohio regulators, environmental groups and other parties for long-term contracts with its coal-fired generators.
- The stipulated agreement, expected to be ruled on by the state's Public Utilities Commission in early 2016, would require AEP Ohio to enter into an eight-year power purchase agreement for the capacity, energy and ancillary service output of AEP's 2,671 MW ownership share of nine generating units and AEP Ohio's 423 MW contractual share of Ohio Valley Electric generation.
- The deal essentially allows AEP to subsidize revenues for its coal-fired power units in exchange for eventually shutting down or converting some of those units to gas and building new renewable energy projects, Bloomberg reports.
- Power producer Dynegy (NYSE:DYN), which owns generation units that compete with plants owned by AEP and FirstEnergy (NYSE:FE), says the pact supports “anti-market" subsidies with costs borne by Ohio residents and businesses in favor of AEP shareholders.
Dec. 9, 2015, 3:13 PM
- The bank's team is fairly aggressive in their expectation of rate hikes, seeing a 25 basis point move next week and another 100 basis points by the end of 2016.
- The cycle, they say, most closely resembles that of 2004, and regulated utilities outperformed the broader market by 6% and 18% in the three and 12 months following the first hike that year.
- As for this particular moment, Barclays says a flattening yield curve, increasing high-yield default rates, and a strong greenback impacting S&P earnings relative to utilities all bode well for the sector.
- The team's favored picks: NextEra Energy (NYSE:NEE), American Electric Power (NYSE:AEP), Entergy (NYSE:ETR), Xcel Energy (NYSE:XEL), and PG&E (NYSE:PCG).
- Utility ETFs: XLU, UTG, IDU, VPU, GUT, BUI, FUTY, RYU, UPW, FXU, SDP, FUGAX
Oct. 23, 2015, 3:48 PM
- American Electric Power (AEP -2.8%) is downgraded to Neutral from Outperform with a $62 price target, cut from $67, at Credit Suisse.
- The firm thinks AEP's consensus earnings estimates for the next three years are too high, and points out the unknown outcome surrounding the Ohio generation PPA.
- Credit Suisse favorably views some of AEP's strategic moves, including improving its return on equity, boosting transmission investments and moving out of non-regulated businesses.
Oct. 22, 2015, 3:49 PM
- American Electric Power (AEP +0.3%) says it expects to decide in early 2016 if it will sell its Ohio coal-fired power plants, as the state's Public Utilities Commission should make a decision on AEP's proposed power purchase agreement to keep the plants open by year-end, CEO Nick Akins said in today's earnings conference call.
- AEP has long said the outcome of the PUC’S decision on the PPA will have a major impact on the future of its plants, though Akins says he would be "ambivalent" about selling them.
- AEP reported better than expected Q3 earnings, helped by favorable weather that propelled a 25% rise in operating profit at its vertically integrated utilities business, and a 23% increase gain in operating earnings at its transmission business.
- AEP raised its EPS guidance for the year, now seeing $3.67-$3.77 vs. an earlier range of $3.50-$3.65; for 2016, AEP affirmed its EPS view of $3.45-$3.85.
Oct. 22, 2015, 6:59 AM
- American Electric Power (NYSE:AEP): Q3 EPS of $1.06 beats by $0.05.
- Revenue of $4.4B (+4.8% Y/Y) misses by $20M.
Oct. 21, 2015, 5:30 PM
- AB, ACAT, ACOR, ADS, AEP, ALK, APOL, ASPS, BCC, BEN, BHE, BMS, CAB, CAM, CAT, CBU, CEMP, COR, CRS, CY, DAN, DGX, DHR, DLX, DNKN, DOW, DPS, DST, EQM, EQT, FAF, FCX, FNB, GMT, GPK, GRA, HBAN, HUB.B, IVC, JNS, LAZ, LLY, LUV, MCD, MHO, MINI, MJN, MMM, NDAQ, NUE, NWE, ORI, PCP, PDS, PENN, PH, PHM, PRLB, PTEN, R, RCI, RS, RTN, SIRI, SJR, SNA, SQNS, STC, SWK, TCB, TROW, UA, UAL, UNP, USG, UTEK, WAB, WBC, WCC, XRS
Oct. 20, 2015, 10:42 AM
- American Electric Power (NYSE:AEP) declares $0.56/share quarterly dividend, 5.7% increase from prior dividend of $0.53.
- Forward yield 3.81%
- Payable Dec. 10; for shareholders of record Nov. 10; ex-div Nov. 6.
Oct. 12, 2015, 10:56 AM
- Electricity producers are largely planning to comply with, not contest, the Obama administration’s new rule limiting carbon emissions from power plants, believing the new regulations at least add certainty to their plans to move away from coal to generate electricity toward cheap natural gas and renewable energy, WSJ reports.
- "Everybody is moving in this direction anyway,” Dominion (NYSE:D) CEO Tom Farrell says.
- "Our coal assets are still running but they’re not making any money," says CEO Bob Flexon of Dynegy (NYSE:DYN), whose generating capacity is ~45% coal and 55% gas. “All the earnings are coming from our gas portfolio."
- Certainly not every utility has agreed to go along with the EPA’s 15-year plan to cut carbon dioxide emissions from the power industry by 32% from 2005; among those who say they are still studying the rule and deciding on next steps are DUK, AEP and SO.
- ETFs: XLU, KOL, UTG, IDU, VPU, GUT, BUI, FUTY, RYU, UPW, FXU, SDP
Oct. 1, 2015, 5:29 PM
- American Electric Power (NYSE:AEP) agrees to sell its AEP River Operations commercial barge transportation subsidiary to American Commercial Lines, owned by Platinum Equity, for ~$550M.
- AEP River Operations delivers ~45M tons of products annually, including 10M tons of coal.
- AEP plans to retain ownership of its captive barge fleet that delivers coal to its regulated coal-fueled power plants owned by Appalachian Power, Kentucky Power and Indiana Michigan Power.
Sep. 11, 2015, 3:34 PM
- American Electric Power (AEP +0.4%) says 7,209 MW of the its unregulated generation fleet in the PJM Interconnection cleared the capacity auction for the 2018-19 delivery year at $164.77/MW-day, representing all the capacity it bid into the auction.
- In the 2016-17 transitional auction, AEP says it cleared 7,169 MW at $134/MW-day, replacing the original capacity auction clearing price of $59/MW-day; in the 2017-18 transitional auction, AEP cleared 6,495 MW at $151.50/MW, replacing the original auction clearing price of $120/MW-day.
- AEP also reaffirms guidance for FY 2016 EPS of $3.45-$3.85, vs. $3.72 analyst consensus estimate.
Aug. 4, 2015, 8:05 PM
- The utilities (NYSEARCA:XLU) sector was Wall Street's biggest decliner today as natural gas was the surprise loser from Pres. Obama’s climate plan, with the White House apparently abandoning its previous enthusiasm for gas as a cleaner alternative to coal.
- Gas producers were "confused and disappointed" that the administration eliminated an earlier projection that natural gas would contribute much more electricity, instead increasing the role of renewables; also perplexed were utility companies, who have led a power transformation and spent hundreds of millions of dollars to switch generating plants from coal to shale gas.
- American Electric Power (NYSE:AEP) CEO Nicholas Akins says the U.S. does not have the luxury of being able to ditch nat gas, saying the only way to power big industrial processes is through large-scale, 24-hour generation close to consumers - “solar doesn’t provide that and wind doesn’t provide that."
- The final plan is considered a boon for companies such as SolarCity (NASDAQ:SCTY) and NextEra Energy (NYSE:NEE) that have invested billions in renewable generation, but Sanford Bernstein calls NRG Energy (NYSE:NRG) the biggest potential loser from the plan, saying profits in some scenarios could tumble by half because most of its electricity comes from coal plants that are in EPA’s cross-hairs.
- ETFs: XLE, XLU, VDE, ERX, OIH, KOL, UTG, IDU, VPU, ERY, FCG, DIG, GASL, DUG, BGR, IYE, GUT, BUI, FENY, FIF, PXJ, RYE, FUTY, RYU, UPW, FXN, FXU, DDG, SDP
Jul. 23, 2015, 7:01 AM
- American Electric Power (NYSE:AEP): Q2 EPS of $0.88 beats by $0.08.
- Revenue of $3.9B (-3.5% Y/Y) misses by $180M.
American Electric Power Co Inc is a public utility holding company, through its subsidiaries, provides electric service, consisting of generation, transmission and distribution, on an integrated basis to its retail customers.
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