AOverview
American Electric Power (AEP) is a large U.S. electric utility that generates, transmits, and distributes electricity to more than five million customers across 11 states. It uses a mix of power sources—coal, natural gas, nuclear, and growing renewable energy—to run a wide network of transmission lines that deliver electricity from plants to homes and businesses. Revenue comes mainly from selling electricity, with rates regulated by state and federal authorities. AEP’s scale, its extensive transmission grid, and its mix of regulated services distinguish it from smaller utilities and pure energy producers. The company aims to provide reliable electric service, manage energy costs, and pursue a gradual shift toward cleaner energy while complying with regulatory requirements.
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About American Electric Power
Industries
Company Size
10,001+
Company Stage
IPO
Headquarters
Columbus, OH
Founded
1906
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Simplify's take
What believers are saying
- October 28, 2026 earnings beat estimates, with EPS $2.23 and guidance raised.
- Google's November 5, 2026 Wyoming announcement validates AEP's 702 MW fuel-cell strategy.
- DOE's $1.6 billion loan guarantee strengthens AEP's transmission rebuild and accelerates returns.
What critics are saying
- AEP's $55.1 billion debt load forces continued equity issuance and financing pressure.
- AEP's data-center boom concentrates risk in 84 GW of contracted load, especially 2027-2031.
- Wyoming's Google project still depends on unbuilt carbon capture, exposing AEP to execution failure.
What makes American Electric Power unique
- AEP controls 90% of America's 765-kV lines, a rare transmission moat.
- Its $100 billion 2027-2031 plan monetizes scale through regulated transmission and contracted load.
- Cheyenne Fuel Cell LLC gives AEP a 20-year Google-backed generation contract through 2028.
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Funding
Total Funding
$11B
Above
Industry Average
Funded Over
7 Rounds
Benefits
- Health Insurance
- 401(k) Retirement Plan
- 401(k) Company Match
- Paid Vacation
Stock Price
Growth & Insights and Company News
6 month growth
4%1 year growth
4%2 year growth
5%Google commits $17 billion to Cheyenne data center campus powered by 702 MW of fuel cells with carbon capture. Key points * Google says the $17 billion Cheyenne-area campus is its first data center in Wyoming [[1]]. * AEP will build a 702 MW Bloom Energy fuel cell plant for Google under a 20-year power purchase agreement, with carbon stored at Tallgrass's Eastern Wyoming Sequestration Hub [[1]] [[3]]. * Google says it will pay for 100% of the power it uses and will air-cool the facility [[1]]. Google said on Nov. 5 that it will invest $17 billion in its first Wyoming data center, a campus in Laramie County near Cheyenne [[1]]. The 716-acre site, known locally as Project Tembo, sits in the Switchgrass Industrial Park about eight miles south of the city [[2]]. In July, Cowboy State Daily identified Google as the previously unnamed owner behind the project [[4]]. Google said it will pay for 100% of the power the campus uses and for the infrastructure its growth requires. The data center will be air-cooled to limit pressure on local water supplies [[1]]. The company did not give a computing capacity or a construction schedule. Fuel cells, gas turbines and underground storage. The main power source is a 702 MW fuel cell development from American Electric Power. Google calls it the largest planned development of its kind [[1]]. The natural-gas fuel cells will be made in the U.S. by Bloom Energy. AEP said in October it would spend about $4 billion on the plant, which will sell power to Google under a 20-year agreement and is scheduled for full operation by the end of 2028 [[3]]. Google said most of the plant's carbon emissions would be captured and permanently stored at Tallgrass Energy's Eastern Wyoming Sequestration Hub [[1]]. Google will also buy power from gas generators run by Tallgrass and Black Hills Energy. A front-end engineering and design study will assess adding carbon capture to Tallgrass's combined-cycle turbines. Google said its contracted carbon-capture capacity would reach nearly 1 GW in total [[1]]. The announcement came two days after voters backed data-center limits in 40 of 41 local ballot measures (MLQ coverage). Google said the campus would generate hundreds of millions of dollars in property taxes for Laramie County and School District 1. It also said it would set up a community council with its partners to address the effects of data center growth on Cheyenne [[1]]. Companies mentioned. At the intersection of AI, tech, and markets. The stories that matter, in one email. Free - unsubscribe anytime.
Google commits $17 billion to its first Wyoming data center and supporting infrastructure. The project includes planned natural-gas fuel cells with carbon capture, air cooling to limit water use, and a pledge to cover infrastructure needs driven by Google's growth. The audio brief. About 1:21 Read transcript Story brief. 3 key points Google plans to build its first Wyoming data center in Laramie County as part of a long-term $17 billion investment, pairing the facility with new energy infrastructure. The project illustrates how AI-computing expansion can require dedicated power and local infrastructure commitments: Google says it will pay for the electricity it uses and growth-related infrastructure, while its emissions controls and tax benefits remain planned or projected rather than delivered outcomes. * 01 A contracted development with AEP calls for 702 megawatts of natural-gas fuel cells, which Bloom Energy will manufacture in the United States. * 02 Google says most fuel-cell emissions are intended for permanent storage at Tallgrass Energy's nearby Eastern Wyoming Sequestration Hub; the system is not yet operating. * 03 A study is evaluating carbon capture for Tallgrass's combined-cycle turbines, while separate gas generation from Tallgrass and Black Hills Energy is also part of the power plan. Laramie County is set to gain a major computing investment, alongside new power infrastructure and commitments to limit pressure on local resources. Google said on November 5, 2026, that it is building its first Wyoming data center as part of a long-term $17 billion investment, pairing natural-gas generation with planned carbon capture. The announcement names Tallgrass Energy, Black Hills Energy, American Electric Power (AEP) and Related Digital as project partners. Google also pledged to pay for all the power it uses and cover infrastructure needs directly caused by its growth - commitments that address who pays for the resources supporting the new facility. Gas power, with carbon storage attached. The energy plan includes a contracted AEP development with 702 megawatts of fuel-cell generation and carbon capture and storage, or CCS. That capacity describes the planned fuel-cell development, rather than the data center itself. Google calls it the largest planned development of its kind, a company characterization of a project still to be delivered. Bloom Energy will manufacture the fuel cells in the United States. They will turn natural gas into electricity through an electrochemical reaction. Google says this approach will help minimize emissions and water use in electricity production; the plan still relies on natural gas as its fuel. Google says the capture system will collect a large majority of the fuel-cell project's carbon emissions for permanent underground storage at Tallgrass's nearby Eastern Wyoming Sequestration Hub. This is a planned emissions-control system, not an operating result. The agreement brings Google's total contracted CCS capacity to nearly one gigawatt, according to the company. Fuel cells are not the only power source in the plan. Google is also sourcing electricity from gas generators operated by Tallgrass Energy and Black Hills Energy. A front-end engineering and design study - technical work used to evaluate a proposed system - is examining whether Tallgrass's combined-cycle turbines can be fitted with CCS. That retrofit remains under evaluation, distinct from the contracted fuel-cell development. Water, taxes and a voice for Cheyenne. Inside the data center, Google has chosen air cooling to minimize strain on local water resources. That is a separate measure from the fuel cells' stated water benefits: one addresses cooling the computing facility, while the other concerns producing its electricity. Google says more than 200 Laramie County residents attended a recent community meeting in downtown Cheyenne. Residents asked for a fuller picture of the project's economic benefits and more information about careers and training. They also raised a concern extending beyond this site: how data center growth is affecting Cheyenne as a whole. The company expects the project to generate hundreds of millions of dollars in property taxes for Laramie County and School District 1. Those are projected benefits, not revenue already collected. Its separate community investment plans focus on K-12 education, workforce development and economic opportunities, with targeted grants supporting science and technology education, local entrepreneurs and skilled-trades training. Google and the project partners, including Bloom Energy, are establishing a Community Council to develop responses to Cheyenne's growth concerns. The council's stated remit reaches beyond Google's own facility, reflecting the wider community question raised at the meeting rather than just the construction and operation of one data center. Sources. * blog.googleInvesting in Wyoming's infrastructure, energy and workforce
Investing in Wyoming's infrastructure, energy and workforce. Nov 05, 2026 Blog is building its first data center in Wyoming, representing a $17 billion investment in the Cowboy State. Steve Walter VP, Global Infrastructure and Energy Listen to article 4:38 minutes Today, Blog is announcing its first data center in the state of Wyoming, in partnership with Tallgrass Energy, Black Hills Energy, American Electric Power (AEP), and Related Digital. Google is making a long-term, $17 billion investment in the Cowboy State, designed to deliver lasting benefits for Laramie County families and businesses. Its commitment to responsible growth. Blog is committed to partnering with communities to build data centers the right way. Blog will pay for 100% of the power Blog use, and when Blog build data centers, Blog'll cover the infrastructure needs directly driven by its growth. The project is contracted with AEP to feature a first-of-its-kind, commercial-scale, 702 MW fuel cell development with carbon capture and storage (CCS) - the largest planned development of its kind to date. Fuel cells efficiently convert fuel, in this case natural gas, into electricity through a safe electrochemical reaction. The fuel cells for this project will be made in America by Bloom Energy and will help minimize emissions and water use in the production of energy for its data infrastructure. The CCS technology will enable the capture and permanent geologic storage of a large majority of its carbon emissions at Tallgrass's nearby Eastern Wyoming Sequestration Hub. This project builds on its first CCS project in the U.S. announced last fall, and brings its total contracted CCS capacity to nearly 1 gigawatt. Blog is also sourcing power from gas generators operated by Tallgrass Energy and Black Hills Energy, and conducting a technical front-end engineering and design (FEED) study to evaluate fitting Tallgrass's combined cycle turbines with CCS technology. Together, these efforts represent a novel approach to powering data centers efficiently, accelerating the commercialization of CCS, and creating pathways to reduce the carbon emissions associated with natural gas generation. Water is another essential shared resource, and Blog remain deeply committed to using it responsibly and investing in local water replenishment efforts. Consistent with its water stewardship commitments for local communities, its Wyoming data center will be air-cooled to minimize strain on local water resources. Investment in Cheyenne. Blog know being a part of the community means investing in the things that matter most to the people in it. Google and its partners have held numerous meetings, and are continuously engaging key stakeholders at the local and state level. Recently, Blog hosted a community meeting in downtown Cheyenne; Blog spoke to and met with more than 200 residents in Laramie County, gathering clear and constructive feedback on their priorities. Those include: A holistic picture of the economic benefits of this project. Blog expect this project to generate hundreds of millions of dollars in local property taxes for Laramie County and School District 1. This is in addition to its community investment plans, which will focus on initiatives in K-12 education, workforce development, and pathways to accelerate Wyoming's economy. Requests for more information on career and job skilling opportunities. Through targeted grants, Google is partnering with key local institutions championing STEM education, supporting local entrepreneurs, and expanding skilled trades training across the state. Blog already hosted its first Community Day at the Cheyenne Children's Museum, and Blog look forward to sharing more about its community partnerships in the coming weeks. Data center growth supporting communities. A key concern from the community meeting stretches beyond the boundaries of its own project - how data center growth is impacting Cheyenne as a community. Building on its existing engagement efforts, Google, Tallgrass Energy, Black Hills Energy, Related Digital, AEP, and Bloom Energy are standing up a Community Council designed to develop common-sense solutions to support Cheyenne through this phase of growth. Data centers power the technology America relies on - everything from online banking, to digital maps and wayfinding, to hospitals and 911 systems. Building on Google's 20-year track record of data center development, its promise is to show up today and tomorrow for Cowboy State residents. Blog is excited to put down roots in Wyoming and look forward to working closely with the community for decades to come. Posted in:
Barclays forecasts strong price appreciation for American Electric Power (NASDAQ:AEP) stock. Posted by Amy Steele on Nov 2nd, 2026 American Electric Power (NASDAQ:AEP - Get Free Report) had its price target increased by Barclays from $120.00 to $132.00 in a research report issued on Monday, Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's target price would suggest a potential upside of 1.14% from the company's previous close. Several other research analysts have also recently issued reports on AEP. BTIG Research restated a "buy" rating and issued a $153.00 target price on shares of American Electric Power in a report on Thursday. Scotiabank lowered their price target on shares of American Electric Power from $140.00 to $131.00 and set a "sector perform" rating for the company in a report on Wednesday, September 30th. Morgan Stanley increased their price target on shares of American Electric Power from $128.00 to $130.00 and gave the company an "overweight" rating in a research report on Wednesday, October 21st. JPMorgan Chase & Co. cut their price target on shares of American Electric Power from $140.00 to $135.00 and set a "neutral" rating on the stock in a report on Monday, October 19th. Finally, KeyCorp raised shares of American Electric Power from a "sector weight" rating to an "overweight" rating and set a $133.00 price target on the stock in a report on Monday, October 12th. Sixteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, American Electric Power has a consensus rating of "Moderate Buy" and a consensus price target of $139.50. American Electric Power trading up 0.2%. AEP stock traded up $0.30 during trading on Monday, hitting $130.51. 1,701,272 shares of the company traded hands, compared to its average volume of 3,949,264. The firm has a market capitalization of $71.06 billion, a PE ratio of 21.08, a P/E/G ratio of 2.68 and a beta of 0.46. American Electric Power has a 1 year low of $112.54 and a 1 year high of $140.58. The company has a 50-day moving average of $123.35 and a 200-day moving average of $127.93. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.40 and a current ratio of 0.51. American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.19. The business had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.55 billion. American Electric Power had a return on equity of 10.52% and a net margin of 14.21%. American Electric Power's revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the company earned $1.80 EPS. Analysts predict that American Electric Power will post 6.41 earnings per share for the current fiscal year. Insider activity. In related news, CAO Kate Dixon sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $125.00, for a total transaction of $250,000.00. Following the completion of the transaction, the chief accounting officer owned 15,856 shares in the company, valued at $1,982,000. This represents a 11.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.05% of the company's stock. Institutional trading of American Electric Power. Several large investors have recently added to or reduced their stakes in the stock. Elevation Wealth Partners LLC lifted its position in shares of American Electric Power by 118.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 194 shares of the company's stock worth $27,000 after purchasing an additional 105 shares during the period. Costello Asset Management INC raised its stake in American Electric Power by 100.0% in the first quarter. Costello Asset Management INC now owns 200 shares of the company's stock worth $26,000 after buying an additional 100 shares in the last quarter. Parvin Asset Management LLC purchased a new stake in American Electric Power in the second quarter worth about $27,000. Caitlin John LLC purchased a new stake in American Electric Power in the second quarter worth about $27,000. Finally, Premier Financial Group bought a new stake in American Electric Power during the 2nd quarter valued at approximately $28,000. Institutional investors own 75.24% of the company's stock. About American Electric Power. American Electric Power (NASDAQ:AEP) is an electric utility holding company that generates, transmits and distributes electricity to residential, commercial, industrial and institutional customers. Through its operating companies, AEP provides regulated electric service and manages power generation assets using a mix of energy resources, including natural gas, coal, nuclear, hydroelectric and renewable energy. AEP operates one of the largest electric transmission systems in the United States and supplies electricity across portions of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia. Further reading. 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American Electric Power (AEP) is spending far more on construction than its business generates, as it prepares for a surge in power demand. Capital spending reached $15.9 billion over the last twelve months, more than double the $7.58 billion in operating cash. Free cash flow was negative $8.31 billion. On October 28, 2026, the company laid out a $100 billion capital plan through 2031. It counts 84 gigawatts of new contracted load, driven by data centres and manufacturing, and expects about 90% of planned utility investment to be recovered through riders and trackers. Total debt rose to $55.1 billion from $47.9 billion a year earlier, and diluted shares rose to 550 million from 538 million. The quarterly dividend rose 2 cents to 97 cents a share.
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About American Electric Power
Industries
Company Size
10,001+
Company Stage
IPO
Headquarters
Columbus, OH
Founded
1906
American Electric Power is Hiring for 236 Jobs on Simplify!
Find jobs on Simplify and start your career today
Don't see your dream role? Check out thousands of other roles on Simplify.Browse all jobs