I'm baffled as well. I guess this is another case of Wall Street running the stops and taking people's money. Doesn't make sense for utilities to be selling off on a day when interest rates on treasuries are down significantly but I've been seeing this irrational pattern lately. If it goes against rational thinking, buy the dip I guess. If you look at fuel input costs today, Heating Oil is up about 1% but Nat. Gas is down 1.9%. I wonder what would've happened if they hadn't beaten on EPS by +6.7%, +9.6% y/y and beaten on Revs by +2.0%, +11.7% y/y. They also reaffirmed their forward FY '14 EPS guidance of 3.35 to 3.55 vs 3.48 est, which is +6.8% y/y at midpoint.
Zacks still has this as a BUY after the earnings report. They say shale oil industry is booming in their area and will continue to fuel AEP growth.
There are only 5 of 45 Electric Utilities performing worse than AEP today so it looks like someone is attacking the stock today for some reasons of their own. The SEC needs to bring back the uptick rule.