American Electric Power Appoints Charles Zebula As Finance Chief; Reaffirms Guidance
Portfolio Pulse from Shivani Kumaresan
American Electric Power Company Inc (AEP) has appointed Charles E. Zebula as its new CFO, effective immediately. Zebula, who previously served as AEP's executive vice president, Portfolio Optimization, succeeds Ann P. Kelly. The company also reaffirmed its 2023 operating EPS guidance range of $5.19-$5.39, long-term growth rate of 6%-7%, and FFO/Debt target of 14%-15%. AEP shares traded lower by 2.40% at $73.42 on the last check Monday.
October 02, 2023 | 2:02 pm
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NEUTRAL IMPACT
Charles E. Zebula's appointment as CFO and the reaffirmation of the 2023 operating EPS guidance could stabilize AEP's stock in the short term, despite a recent 2.40% drop.
The appointment of a new CFO usually brings a fresh perspective and can lead to strategic changes, which could potentially impact the company's stock. However, the reaffirmation of the 2023 operating EPS guidance indicates stability in the company's financial outlook, which could counterbalance any negative sentiment caused by the recent drop in stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100