American Electric Power Forecasts Up to $6.45 EPS, Doubles 2030 Load Forecast
American Electric Power stock has gained over 14% year-to-date and yields 2.88%. The company forecasts 2026 operating EPS of $6.15-$6.45 while doubling its 2030 contracted load forecast to 56 gigawatts, driven by data center demand and new transmission projects.
1. Year-to-Date Performance and Dividend Yield
American Electric Power has delivered over 14% returns so far in 2026 while maintaining a 2.88% dividend yield, reflecting steady investor confidence in its regulated utility model.
2. Generating Capacity and Transmission Network
The company operates 29,000 megawatts of generating capacity and controls nearly 90% of the U.S. 765 kV transmission infrastructure, with additional projects recently awarded to expand its footprint further.
3. Earnings Results and Guidance
AEP reported 2025 operating EPS of $5.97, slightly above guidance, and projects 2026 EPS between $6.15 and $6.45, backed by a reaffirmed annual growth target of 7%–9% through 2030 and a rising return on equity from 9.2% to an estimated 9.5%.
4. Data Center and Industrial Demand Drivers
Strong demand from hyperscale data centers building AI infrastructure and industrial capex, including power supply to a new Nucor steel mill in West Virginia, underpins much of AEP’s incremental growth outlook.