AEP - This Utility Is Making a Smart Move to Lock in Smoother Results. Is It a Buy?
2023-12-23 12:11:00 ET
AEP (NASDAQ: AEP) , also known as American Electric Power, operates regulated utilities in 11 states, making it one of the largest utilities in the United States. It just made an important shift in the way it runs its business, but the move should help it to produce smoother results. Here's what you need to know before you decide to buy this high-yielding dividend stock.
In February 2023, AEP agreed to sell 1.365 gigawatts' worth of renewable power assets spanning 14 large-scale projects. The sale was completed in August, with proceeds of roughly $1.2 billion after taxes. But the money really wasn't the important factor here.
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This Utility Is Making a Smart Move to Lock in Smoother Results. Is It a Buy?