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COLUMBUS, Ohio - American Electric Power (NASDAQ:AEP), a utility giant with a market capitalization of $55.2 billion and annual revenues exceeding $19.7 billion, has announced the appointment of Puesh M. Kumar as vice president of National Security and Resilience, a position effective from April 9. Kumar, who will be based in Washington, D.C., is set to lead the company’s efforts in engaging with various government agencies and industry partners on issues related to national security, cybersecurity, and the resilience of the electric grid.InvestingPro analysis reveals AEP currently trades near its Fair Value, with multiple positive indicators available to subscribers.
Kumar brings over two decades of experience in the energy sector to his new role at AEP. His background includes serving as the director of the U.S. Department of Energy’s Office of Cybersecurity, Energy Security, and Emergency Response (CESER). In this capacity, Kumar has been instrumental in addressing the security and resilience of critical energy systems across the United States. His responsibilities have spanned engaging with states on energy security planning, managing the Strategic Petroleum Reserve, and directing emergency response efforts for various hazards impacting the energy system.
Before his tenure at the DOE, Kumar’s career included positions at Southern California Edison, the American Public Power Association, and Memphis Light, Gas, and Water, where he focused on a range of issues from grid modernization to cybersecurity and supply chain security. Kumar holds a degree in electrical engineering with a specialization in power systems.
AEP’s President and Chief Executive Officer Bill Fehrman welcomed Kumar, highlighting the importance of a resilient grid to community integrity, the economy, and national security. Fehrman expressed confidence in Kumar’s deep industry experience and expertise in energy security planning, which will be crucial in shaping stakeholder relationships and policy strategy for AEP.
This appointment comes as AEP continues to invest in its infrastructure, with plans to spend $54 billion from 2025 through 2029 to enhance service and support the growing energy needs of communities. While operating with a total debt of $46 billion, the company maintains strong financial metrics with a P/E ratio of 18.5x and healthy revenue growth of 3.9% over the last twelve months. AEP operates the nation’s largest electric transmission system and is a major electricity producer, focused on safety, operational excellence, and community engagement.Discover deeper insights into AEP’s financial health and growth potential with a comprehensive Pro Research Report, available exclusively on InvestingPro.
The information about Puesh M. Kumar’s appointment is based on a press release statement from American Electric Power. The company has maintained dividend payments for 55 consecutive years, with 15 years of consecutive dividend increases, demonstrating its commitment to shareholder returns. The current dividend yield stands at 3.6%.
In other recent news, American Electric Power (AEP) has announced a $2 billion common stock offering, with Citigroup and Barclays acting as joint book-running managers. This move is part of a strategic plan to address the company’s equity needs through 2029, contributing to a larger $54 billion capital expenditure plan. The forward equity sale is anticipated to generate $2.3 billion in common equity if the over-allotment option is fully exercised. UBS maintains a Sell rating on AEP with a $95 price target, while BMO Capital Markets has raised its price target to $111, maintaining an Outperform rating. These assessments follow AEP’s recent financial maneuvers, including the sale of transmission assets for $2.8 billion, which aids in covering equity requirements. Additionally, AEP has disclosed the resignation of Therace M. Risch, Executive Vice President and Chief Information and Technology Officer, effective April 1, 2025. The company has not yet announced a successor for Risch, whose tenure was marked by efforts to modernize technological infrastructure. Investors will be closely monitoring AEP’s regulatory developments in West Virginia and Ohio, which could impact the company’s financial performance and stock valuation.
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