Reported 1 day ago
American Electric Power Company, Inc. (NASDAQ:AEP) has secured a partnership with KKR and PSP Investments, acquiring a 19.9% equity interest in its Ohio and Indiana Michigan transmission companies for $2.82 billion. This investment aims to address growing power demand, and has led Raymond James to assign an Outperform rating with a $115 price target for the stock. AEP, which serves over 5 million customers, maintains a solid dividend yield of 3.61% and has experienced 16 years of consecutive dividend growth, indicating strong financial stability.
Source: YAHOO