|Bid||89.94 x 800|
|Ask||91.79 x 800|
|Day's Range||90.18 - 93.44|
|52 Week Range||65.14 - 104.97|
|Beta (5Y Monthly)||0.31|
|PE Ratio (TTM)||23.39|
|Earnings Date||Oct 22, 2020|
|Forward Dividend & Yield||2.96 (3.20%)|
|Ex-Dividend Date||Nov 09, 2020|
|1y Target Est||92.38|
For his second "Executive Decision" segment of Mad Money Monday night, Jim Cramer spoke with Nick Akins, chairman, president and CEO of the utility American Electric Power . Akins said that AEP continues to invest to meet the changing needs of our economy. Since Covid-19 began, Akins said power demand for residential has increased as people spend more time at home, while commercial and industrial demand has plunged.
American Electric Power Company Inc (NASDAQ: AEP) CEO Nick Akins discussed his company's clean energy plans with CNBC's Jim Cramer on the "Mad Money" show, Monday.What Happened: The power distribution giant reported a decent earnings quarter last week with slightly higher-than-expected earnings per share guidance for the fourth quarter. Atkins said the company is carrying on with its capital expenditures regardless of what is going on with the economy.The economy's commercial and industrial segments are bouncing back as people start moving out of their houses and the economy opens.The company has been committed to increasing power generation from renewable energy, which can be seen in its latest 50-MW output purchase from Columbus Solar Park.Commenting on how the November presidential election impacts the company's renewable energy plans, Atkins said American Electric would continue with its clean energy plans regardless of the election outcome as shareholders expect them to move in that direction."If a Biden administration comes in, we certainly expect more aggressiveness in terms of the targets, but we're already moving forward very quickly, and we'll continue to focus on that as we move forward," Atkins said.Why It Matters: The Democratic presidental nominee has a $1.7 trillion plan to address climate change compared to President Trump, who wants the growth of both oil and coal industries, CNBC reports.Atkins said that American Electric has reduced carbon emissions by 65% in the last two decades and they expect to reduce 70% further by 2030.To achieve sustainable energy goals, the company plans to invest more than $2 billion in renewable energy by 2024 by building more wind and solar capabilities and creating a modern power grid.See more from Benzinga * Click here for options trades from Benzinga * Asian Markets Today: Shares Plunge After Wall Street's Decline * Hasbro Shares Fall As Margin Improvements Fail To Impress(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
AEP Energy Partners, a subsidiary of American Electric Power (Nasdaq: AEP), has signed a letter of intent with BQ Energy Development, LLC to purchase 100% offtake of the Columbus Solar Park being developed southwest of downtown Columbus, Ohio.