Arkansas
Carl Handley retired Saturday, April 6, 2019, from Flint Creek Plant, Gentry, AR, after 34 years
Indiana
David Kline retired Saturday, April 6, 2019, from Elkhart Office and Service Building, Elkhart, IN, after 31 years
Randall Lawton retired Tuesday, April 2, 2019, from South Bend Service Center, South Bend, IN, after 46 years
Dean Mossburg retired Thursday, April 25, 2019, from Spy Run Building. #3, Ft. Wayne, IN, after 17 years
Kentucky
Joseph Berner retired Monday, April 1, 2019, from Robert E Matthews Service Cent, Ashland, KY, after 29 years
Rodger Raybourn retired Monday, April 1, 2019, from Robert E Matthews Service Cent, Ashland, KY, after 30 years
Louisiana
Tom Young retired Tuesday, April 23, 2019, from AEP River Operations – Convent, Convent, LA, after 10 years
Kerry Baker retired Monday, April 1, 2019, from Bossier City Warehouse, Bossier City, LA, after 37 years
Michigan
Ricardo Vela retired Tuesday, April 2, 2019, from Cook Nuclear Plant, Bridgman, MI, after 35 years
Steven Koshar retired Tuesday, April 2, 2019, from Cook Nuclear Plant, Bridgman, MI, after 38 years
Robert Imler retired Friday, April 5, 2019, from Cook Nuclear Plant, Bridgman, MI, after 40 years
James Labis retired Friday, April 5, 2019, from Cook Nuclear Plant, Bridgman, MI, after 39 years
James Shaw retired Saturday, April 6, 2019, from Cook Nuclear Plant, Bridgman, MI, after 19 years
Lee Baun retired Saturday, April 13, 2019, from Cook Nuclear Plant, Bridgman, MI, after 33 years
Marilyn Reckline retired Tuesday, April 16, 2019, from Cook Nuclear Plant, Bridgman, MI, after 22 years
Theodore Werk retired Friday, April 19, 2019, from Cook Nuclear Plant, Bridgman, MI, after 23 years
Joseph Paquette retired Saturday, April 20, 2019, from Buchanan Office/Service Center, Buchanan, MI, after 28 years
Ohio
Bradley Berson retired Tuesday, April 2, 2019, from AEP Headquarters, Columbus, OH, after 19 years
Nancy Christoff retired Saturday, April 6, 2019, from AEP Headquarters, Columbus, OH, after 20 years
Michael Kirwin retired Saturday, April 6, 2019, from AEP Headquarters, Columbus, OH, after 15 years
Michael Hammond retired Saturday, April 20, 2019, from AEP Headquarters, Columbus, OH, after 13 years
Leonard Robinson retired Saturday, April 27, 2019, from AEP Headquarters, Columbus, OH, after 14 years
Phyllis Moore retired Tuesday, April 16, 2019, from Marietta Service Center, Marietta, OH, after 30 years
Randy Hill retired Tuesday, April 23, 2019, from Mound St Service Center, Columbus, OH, after 45 years
Walter Brooks retired Tuesday, April 23, 2019, from Columbia Transmission Service Center, Pataskala, OH, after 39 years
Michael Coffey retired Saturday, April 13, 2019, from Minerva Annex, Columbus, OH, after 40 years
Timothy Cramer retired Saturday, April 6, 2019, from Kenton Service Center, Kenton, OH, after 41 years
Joe Strauss retired Saturday, April 27, 2019, from Zanesville Service Center, Zanesville, OH, after 28 years
Paul Petrella retired Tuesday, April 16, 2019, from Steubenville Service Center, Steubenville, OH, after 39 years
Alexander Martinez retired Saturday, April 6, 2019, from Lima Service Center, Lima, OH, after 38 years
Joseph Helbling retired Tuesday, April 2, 2019, from Canton General Service Center, Canton, OH, after 39 years
Charles Hay retired Monday, April 1, 2019, from Bucyrus Service Center, Bucyrus, OH, after 31 years
Alan Stechschulte retired Tuesday, April 16, 2019, from Findlay Service Center, Findlay, OH, after 37 years
Victoria Dunfee retired Tuesday, April 2, 2019, from AEP Transmission New Albany HQ, New Albany, OH, after 22 years
Oklahoma
Robert Washam retired Wednesday, April 3, 2019, from Alsuma Meter & Substation, Tulsa, OK, after 24 years
Ricky Gurley retired Saturday, April 6, 2019, from Tulsa General Office, Tulsa, OK, after 34 years
Scott Brown retired Saturday, April 6, 2019, from Bartlesville Operations, Bartlesville, OK, after 36 years
Billy Callison retired Monday, April 1, 2019, from Chouteau, Chouteau, OK, after 41 years
Randy Bryson retired Monday, April 1, 2019, from Southwestern Station, Washita, OK, after 20 years
Gerald Albertson retired Thursday, April 18, 2019, from Tulsa Power Station, Tulsa, OK, after 14 years
Charles Pierce retired Wednesday, April 3, 2019, from Northeastern Stations 3&4, Oologah, OK, after 45 years
Michael Bitson retired Saturday, April 27, 2019, from Northeastern Stations 1&2, Oologah, OK, after 40 years
Tennessee
Brenda Moore retired Monday, April 1, 2019, from Kingsport Service Center, Kingsport, TN, after 30 years
Harold Walker retired Saturday, April 6, 2019, from Kingsport Service Center, Kingsport, TN, after 37 years
Texas
Dean Rosenquist retired Saturday, April 13, 2019, from Stamford, Stamford, TX, after 42 years
Raymond Ramirez retired Saturday, April 27, 2019, from Presidio, Presidio, TX, after 37 years
Jimmy Vickers retired Saturday, April 13, 2019, from Mt Pleasant, Mt Pleasant, TX, after 19 years
Jerry Freeman retired Tuesday, April 30, 2019, from Mt Pleasant, Mt Pleasant, TX, after 40 years
Phillip Kelley retired Wednesday, April 3, 2019, from Welsh Plant, Pittsburg, TX, after 27 years
Kevin Hendricks retired Wednesday, April 3, 2019, from Welsh Plant, Pittsburg, TX, after 37 years
George Davlin retired Tuesday, April 30, 2019, from Welsh Plant, Pittsburg, TX, after 37 years
Virginia
Jackie Gurley retired Monday, April 1, 2019, from Rocky Mount Office & Service Center, Rocky Mount, VA, after 39 years
Ralph Hite retired Monday, April 1, 2019, from Rocky Mount Office & Service Center, Rocky Mount, VA, after 38 years
Ralph Lawless retired Tuesday, April 23, 2019, from Fieldale Office, Fieldale, VA, after 34 years
David Rowe retired Sunday, April 14, 2019, from Grundy Office & Service Center, Grundy, VA, after 40 years
Leo Cox retired Monday, April 1, 2019, from Bluefield Va Service Center, Bluefield, VA, after 28 years
James Linnane retired Sunday, April 7, 2019, from Roanoke Main Office, Roanoke, VA, after 27 years
Thomas Lineberry retired Friday, April 5, 2019, from Woodlawn Service Center, Woodlawn, VA, after 22 years
West Virginia
Patrick Miller retired Monday, April 1, 2019, from Amos Plant, Winfield, WV, after 35 years
Steven Ward retired Saturday, April 6, 2019, from Amos Plant, Winfield, WV, after 21 years
Avery Spurlock retired Saturday, April 20, 2019, from Marmet Hydro, Marmet, WV, after 32 years
Kim Althar retired Tuesday, April 2, 2019, from Mitchell Plant, Cresap, WV, after 13 years
Hubert Gue retired Monday, April 1, 2019, from Milton Office & Service Center, Milton, WV, after 39 years
Gerald Dotson retired Saturday, April 13, 2019, from Logan Service Center, Logan, WV, after 27 years
William Doss retired Saturday, April 13, 2019, from Logan Service Center, Logan, WV, after 46 years
Terry Brown retired Monday, April 1, 2019, from Mountaineer Plant, New Haven, WV, after 12 years
Barry Marshall retired Monday, April 1, 2019, from Mountaineer Plant, New Haven, WV, after 38 years
Dana Daniels retired Tuesday, April 30, 2019, from Mountaineer Plant, New Haven, WV, after 32 years
Joseph Watson retired Monday, April 1, 2019, from River Trans Division, West Columbia, WV, after 30 years
Grayford Franks retired Monday, April 1, 2019, from River Trans Division, West Columbia, WV, after 21 years
Dale Wallace retired Tuesday, April 16, 2019, from River Trans Division, West Columbia, WV, after 32 years
Richard Carter retired Monday, April 1, 2019, from Sporn Plant, New Haven, WV, after 37 years
Richard Adams retired Monday, April 1, 2019, from N Charleston Service Center, Charleston, WV, after 25 years
Paul Florjanczyk, 88, unknown location, died, 3/18/2019
Indiana
Douglas Maples, 65, Tanners Creek Plant, Lawrenceburg, IN, died, 3/9/2019
Georgieanna Robinson, 89, South Bend Service Center, South Bend, IN, died, 4/10/2019
Larry Henderson, 84, Spy Run Building. #3, Ft. Wayne, IN, died, 3/17/2019
Charles Beam, 83, Winchester Service Center, Winchester, IN, died, 3/22/2019
David Mornout, 77, South Bend Service Center, South Bend, IN, died, 3/3/2019
Eugene Grim, 92, Muncie Service Center, Muncie, IN, died, 2/11/2019
Kentucky
Rhonda Lucas, 57, Robert E Matthews Service Center, Ashland, KY, died, 4/3/2019
John Spilman, 76, Robert E Matthews Service Center, Ashland, KY, died, 2/22/2019
Joan Mosco, 87, Ashland Office, Ashland, KY, died, 4/24/2019
Larry Cantrell, 73, Pikeville Service Center, Pikeville, KY, died, 4/19/2019
Robert Kise, 81, Big Sandy Plant, Louisa, KY, died, 3/29/2019
Louisiana
Billy Reagan, 91, Shreveport General Office, Shreveport, LA, died, 2/28/2019
Elby Taylor, 77, Shreveport General Office, Shreveport, LA, died, 3/18/2019
Robert Taylor, 77, Haughton Operations Center, Haughton, LA, died, 4/21/2019
Thomas Virnich, 71, AEP River Operations, Convent, LA, died, 2/28/2019
Michigan
Michael Taylor, 69, Buchanan Service Center, Buchanan, MI, died, 2/25/2019
Glen Zimmerman, 75, Cook Nuclear Plant, Bridgman, MI, died, 3/17/2019
Dorothy Cook, 95, Three Rivers Service Center, Three Rivers, MI, died, 4/21/2019
Ohio
Douglas Clemons, 72, 825 Tech Center Building, Gahanna, OH, died, 3/10/2019
Deborah Crye, 62, Conesville Plant, Conesville, OH, died, 4/27/2019
David Morrow, 66, Canton General Service Center, Canton, OH, died, 4/8/2019
Jerry Polley, 68, Athens Office & Service Center, Athens, OH, died, 3/31/2019
William Hilty, 68, Lima Service Center, Lima, OH, died, 3/8/2019
Rosalee Brown, 71, Canton Eastern Regional Office, Canton, OH, died, 4/13/2019
John Wright, 71, Athens Office & Service Center, Athens, OH, died, 4/3/2019
Donald Kemmerling, 71, AEP Headquarters, Columbus, OH, died, 4/3/2019
Kevin Mack, 65, AEP Headquarters, Columbus, OH, died, 4/11/2019
Keith Brown, 74, Conesville Plant, Conesville, OH, died, 3/23/2019
Joseph Lavin, 72, AEP Headquarters, Columbus, OH, died, 2/19/2019
Micheal Bullock, 74, Conesville Plant, Conesville, OH, died, 3/14/2019
David Danhart, 83, Lancaster Office Building, Lancaster, OH, died, 3/28/2019
Harold Workman, 82, Lancaster Office Building, Lancaster, OH, died, 3/8/2019
Loy Hanson, 84, Central Ohio Coal, Cumberland, OH, died, 3/15/2019
Harold Norton, 87, Gallipolis Service Center, Gallipolis, OH, died, 3/24/2019
Elbert Dunivant, 85, Canton Eastern Regional Office, Canton, OH, died, 2/19/2019
Lewis Place, 77, Van Wert Service Center, Van Wert, OH, died, 3/4/2019
Paul Lamprecht, 92, 850 Tech Center Building, Gahanna, OH, died, 4/18/2019
Kenneth Jackson, 79, Central Ohio Coal, Cumberland, OH, died, 3/11/2019
Arthur Hunley, 82, Columbus Region Office, Columbus, OH, died, 3/9/2019
Galeaner Taylor, 95, 850 Tech Center Building, Gahanna, OH, died, 9/8/2017
Eileen Harrison, 80, Canton Eastern Regional Office, Canton, OH, died, 4/17/2019
Charles Ferrell, 79, Mt Vernon Service Building, Mt. Vernon, OH, died, 3/28/2019
Paul Wagner, 76, Muskingum River, Waterford, OH, died, 4/12/2019
Donna Bowers, 74, AEP Headquarters, Columbus, OH, died, 3/23/2019
Robert James, 89, 850 Tech Center Building, Gahanna, OH, died, 4/29/2019
Robert Martin, 91, 850 Tech Center Building, Gahanna, OH, died, 2/25/2019
Clarence Phillips, 83, 850 Tech Center Building, Gahanna, OH, died, 4/22/2019
Jack Hayes, 76, Columbus SW Service Center, Columbus, OH, died, 4/15/2019
Raymond Yates, 80, 850 Tech Center Building, Gahanna, OH, died, 4/15/2019
Donald Vanvoorhis, 88, Canton Eastern Regional Office, Canton, OH, died, 3/18/2019
Oklahoma
Robert Allen, 79, Tulsa General Office, Tulsa, OK, died, 3/29/2019
Bobby Bush, 69, Riverside Station, Jenks, OK, died, 4/1/2019
Ruth Kosechata, 84, Tulsa General Office, Tulsa, OK, died, 2/26/2019
Laverna Linthicum, 77, Mid Metro, Tulsa, OK, died, 3/31/2019
Doris Propps, 83, Tulsa General Office, Tulsa, OK, died, 2/22/2019
Jewel Austin, 89, Tulsa General Office, Tulsa, OK, died, 2/18/2019
Richard Fitzgerald, 71, Tulsa General Office, Tulsa, OK, died, 4/15/2019
Texas
Cecil Johnson, 78, Renaissance Tower, Dallas, TX, died, 2/22/2019
Van Tribble, 76, CSW Center, Dallas, TX, died, 3/22/2019
Jesse Canales, 73, Lipan Service Center, Corpus Christi, TX, died, 4/1/2019
Albert Garcia, 87, Home Office, Corpus Christi, TX, died, 3/24/2019
Andrew Johnson, 84, Home Office, Corpus Christi, TX, died, 3/20/2019
Stanley McCarthy, 83, Home Office, Corpus Christi, TX, died, 3/9/2019
William Stout, 75, Uvalde Service Center, Uvalde, TX, died, 4/15/2019
John Barnwell, 53, Welsh Plant, Pittsburg, TX, died, 4/12/2019
Janet Ramsey, 77, Wellington, Wellington, TX, died, 4/17/2019
M Smith, 80, General Office, Abilene, TX, died, 4/12/2019
Virginia
Gregory Mullins, 59, Clinch River Plant, Cleveland, VA, died, 2/20/2019
James Woods, 69, Clinch River Plant, Cleveland, VA, died, 4/9/2019
Jack Kirby, 73, Roanoke Main Office, Roanoke, VA, died, 3/29/2019
Thomas Mullins, 71, Smith Mountain Hydro, Sandy Level, VA, died, 2/13/2019
Irvin Goins, 78, Roanoke Main Office, Roanoke, VA, died, 3/6/2019
Marvin Monroe, 74, Gate City Office & Service Center, Gate City, VA, died, 3/29/2019
George Drewry, 77, BB&T Building, Roanoke, VA, died, 4/28/2019
Andrew Thornton, 92, BB&T Building, Roanoke, VA, died, 4/5/2019
Henry Howell, 92, Roanoke Main Office, Roanoke, VA, died, 3/3/2019
Guyda Hedrick, 94, Roanoke Main Office, Roanoke, VA, died, 4/7/2019
Jack Meador, 90, Roanoke Main Office, Roanoke, VA, died, 4/6/2019
James Wheeler, 85, BB&T Building, Roanoke, VA, died, 3/30/2019
Herman Johnson, 78, Roanoke Service Building, Roanoke, VA, died, 2/27/2019
Linwood Stone, 81, Fieldale Office, Fieldale, VA, died, 4/26/2019
Roy Pendleton, 97, Glen Lyn Plant, Glen Lyn, VA, died, 3/7/2019
West Virginia
John Dunlap, 70, Central Machine Shop, South Charleston, WV, died, 4/27/2019
Kenneth Greenway, 68, River Trans Division, West Columbia, WV, died, 3/23/2019
Kenneth Hudson, 75, N Charleston Service Center, Charleston, WV, died, 3/15/2019
Sandra McGlone, 75, River Trans Division, West Columbia, WV, died, 3/14/2019
Joseph Conkle, 82, Amos Plant, Winfield, WV, died, 4/4/2019
Gary Palmer, 72, Sporn Plant, New Haven, WV, died, 4/8/2019
James Warren, 77, Mountaineer Plant, New Haven, WV, died, 2/17/2019
George Six, 70, St Albans Office & Service Center, St. Albans, WV, died, 4/13/2019
John Moss, 88, N Charleston Service Center, Charleston, WV, died, 3/31/2019
James Rasnake, 78, Amos Plant, Winfield, WV, died, 4/8/2019
Rufus Meade, 90, Williamson Service Center, Williamson, WV, died, 3/16/2019
Kenna Judy, 91, N Charleston Service Center, Charleston, WV, died, 4/7/2019
Andrew Jordan, 93, River Transport Division, West Columbia, WV, died, 3/29/2019
 |
| Shown above with the Employer Support of Guard and Reserves' Above and Beyond Award are (left to right): Dale Vitale, Tom Presthus, Paul Chodak, Jason Luna, Julie Sherwood, Kary Bigbie, William Thompson and Dave Erickson. |
AEP received the Above and Beyond Award from the Employer Support of Guard and Reserve (ESGR) Ohio Office April 17. Paul Chodak III, executive vice president, Generation and executive sponsor of the Military Veterans Employee Resource Group (MVERG), accepted the award on behalf of AEP.
“AEP places a high value on our active military and military veteran employees, and we are honored to receive this recognition,” Chodak said. “We have demonstrated our support with our paid leave and pay differential policies, as well as our proactive efforts to attract talented individuals with military backgrounds to work at AEP.”
Jason Luna, generation dispatcher senior, Commercial Operations, nominated AEP for the award and also recognized the group's leadership for their support. He is a member of the Ohio National Guard who is about to embark on his third overseas active duty deployment.
"I especially want to extend my gratitude to the entire Commercial Operations team for your exemplary support of Jason," Chodak said. "Your actions demonstrate the caring and supportive culture we so prize at AEP."
“My entire department has been very supportive of me, and I thank all of them for what they have done,” Luna said. “When I was on previous deployments, they sent cards and care packages to me. You don’t know how much receiving one of those packages means to soldiers who are deployed.”
Luna, sergeant first class in the Ohio National Guard, has served in the National Guard for 21 years as a combat engineer. During his military career, he has served in a wide variety of positions including: team leader, squad leader, section sergeant, battalion assistant operations non-commissioned officer (NCO), brigade engineer, brigade assistant operations NCO, and division operations sergeant. He has also helped train over 5,000 soldiers deploying to numerous locations across the globe.
He will be deploying in May for active duty and is scheduled to report to Kuwait in July. He previously served on active duty in Kosovo from September 2016 to July 2017, and in Sinai, Egypt from September 2008 to August 2009.
Awards recognize support of employees serving in military
The Above and Beyond Award is presented by ESGR State Committees to recognize employers at the local level who have gone above and beyond the legal requirements of the Uniformed Services Employment and Reemployment Rights Act by providing their Guard and Reserve employees additional, non-mandated benefits such as differential or full pay to offset lost wages, extended health benefits, and other similar benefits.
The award is given in limited numbers by state committees to employers who have had at least one of their supervisors/managers recognized with a Patriot Award, and who have signed or agree to sign an ESGR Statement of Support.
Five other AEP leaders were presented with Patriot Awards, nominated by Luna. This award recognizes individual leaders’ contributions in support of employees who serve in the Guard or Reserves.
Receiving Patriot Awards were Julie Sherwood, senior vice president, Commercial Operations; Tom Presthus, vice president, Market Operations; William Thompson, director, Commercial Operations Support; Dave Erickson, director, Real Time Market Operations; and Kary Bigbie, Generation Dispatcher manager.
Presenting the Above and Beyond Award to AEP was Dale Vitale, retired lieutenant colonel, U.S. Army; ombudsman in the ESGR Ohio Office and principal assistant attorney general in the Ohio Attorney General’s Office.
AEP supports military veterans in various ways
In addition to other employee benefits, AEP also provides a pay differential for employees deployed to active duty in the military or who attend mandatory military training. The company also provides additional paid time off for service members to attend comrades' funeral services.
To support the more than 1,800 military veterans who already work at AEP, the company sponsors the Military Veteran Employee Resource Group (MVERG), with members in Arkansas, Louisiana, Ohio, Oklahoma and Texas.
MVERG's mission is to promote the roles and contributions of veterans and active-duty military employees, provide professional development and networking opportunities for our members and serve as a liaison between AEP and the veteran and military communities.
AEP has received national recognition for its veteran employment practices with 14 years of being designated a Top Military-Friendly Employer by G.I. Jobs magazine. AEP was one of six energy companies to develop the Troops to Energy Jobs initiative to provide veterans with a career roadmap for jobs in the energy industry. The company also is a member of the Veteran Jobs Mission, a coalition of more than 230 companies committed to hiring military veterans.
Last week was busy for AEP leaders and Investor Relations. On April 23, AEP hosted its 2019 Annual Meeting of Shareholders in Corpus Christi, Texas. Two days later, AEP reported first quarter 2019 operating earnings of $1.19 per share and reaffirmed 2019 earnings guidance.
Proxy Statement, Appendix A and the Annual Meeting
In March 2019, AEP published its Notice of 2019 Annual Meeting, Proxy Statement, and Appendix A to shareholders. Only shareholders of record at the close of business on Feb. 25, 2019 were eligible to receive notice this year and vote on relevant issues at AEP’s annual meeting.
Are you an AEP shareholder? AEP stock can be held through direct ownership, a broker, or the employee 401K program. As of Feb. 25, there were 493.3 million shares of AEP common stock outstanding, held by approximately 60,000 registered shareholders and approximately 783,000 shareholders holding stock through a bank or broker. During last year’s proxy season, AEP had 492.3 million shares of common stock outstanding.
What is a Proxy Statement? A Proxy Statement is a document sent to shareholders prior to the annual shareholder meeting. It contains information required by the Securities and Exchange Commission (SEC). The Proxy must disclose a company’s voting procedures and material matters relevant for seeking shareholder votes. Biographical information on nominated directors of the board is also included.
Since it’s important that shares are represented and voted at the meeting, AEP shareholders of record vote one of three ways: via the internet, telephone, or by completing and mailing a proxy card. A shareholder has the right to cast one vote per share owned. This year AEP shareholder votes were requested to: (a) elect directors to hold office until the next annual meeting while also increasing the board size from 12 to 13, (b) ratify the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for 2019, (c) amend AEP’s certificate of incorporation to eliminate preemptive rights, and (d) hold an advisory vote on executive compensation.
What is Appendix A to the Proxy Statement? Appendix A accompanies the Proxy Statement and is used by shareholders to assess the financial welfare of the company. The appendix this year contained AEP’s 2018 audited financial statements as well as management’s analysis of the company’s financial condition and performance. In summary, Appendix A is a condensed version of AEP’s 2018 Form 10-K annual report filed with the SEC on Feb. 21, 2019.
First Quarter 2019 Earnings and the Street’s Reaction
On April 25, AEP reported first quarter 2019 operating earnings of $1.19 per share, above the corresponding analyst consensus estimate of $1.11 per share. Comparatively, operating earnings during the first quarter of 2018 were $0.96 per share. Brian Tierney, executive vice president and chief financial officer, kicked off the call, “The company is off to an excellent start for 2019. AEP continues to excel and our employees continue to deliver on the execution of our strategy of being the premium regulated utility. Our performance in the first quarter and the stability of our regulated business model gives us the confidence to reaffirm our operating earnings guidance range of $4.00 to $4.20 per share.” Other hot topics covered during the call included contracted and regulated renewables, rate case updates, AEP’s long-term growth rate, as well as Ohio legislation.
AEP’s stock price continued to perform well following the release of first quarter 2019 earnings, closing the day at $84.83 or up 0.96% and surpassing both the S&P Electric Utilities Index (up 0.43%) and the S&P 500 (down 0.04%).
Analyst reports started coming in soon after the earnings call ended. Jonathan Arnold of Deutsche Bank Research said, “AEP had a strong start to the year, with help not only from an expected Ohio regulatory charge reversal, but also from lower expenses. Chief Financial Officer Tierney sounded confident reiterating prior comments about delivering earnings in the ‘upper range’ of their long-term 5% to 7% growth target and noting recent successes, such as an improved Oklahoma rate case outcome and the recently closed Sempra Renewables acquisition.”
Steve Fleishman of Wolfe Research noted, “AEP’s first quarter 2019 results of $1.19 beat consensus of $1.11, possibly on a one-time item and timing of tax benefit. AEP reaffirmed 2019 guidance of $4.00 to $4.20 and their long-term earnings per share (EPS) growth rate. We like AEP’s transmission growth story, absence of major project overhang and solid EPS/dividend growth. Regulated renewables opportunities at AEP Ohio, PSO, and SWEPCO would be upside to our estimates.”
Julien Dumoulin-Smith of Bank of America Merrill Lynch summarized Ohio’s legislation on nukes and need, “AEP noted on the call it would only be supportive of the current House Bill 6 (intended to support First Energy Solutions’ Perry Nuke Plant) if the bill is amended to provide benefits for AEP and its ratepayers. We also highlight that the 900 megawatt renewable opportunity in Ohio still needs to prove ‘need’ and has faced some scrutiny in its filing; we probability weigh opportunity at 25%. However, we see the probability increasing if AEP is able to add amendments to proposed House Bill 6, specifically around phasing out electricity efficiency rather than an immediate cut, grandfathering renewable portfolio standards, and stating that utilities are allowed to provide renewables to ratepayers to counteract the ‘need’ debate. We expect AEP to receive amendments or else First Energy Solutions could risk AEP as an opponent to the bill.”
Upcoming Events
Within the next couple weeks, Investor Relations will join PSO’s management team and Corporate Finance in Tulsa for investor due diligence meetings. Lisa Barton, executive vice president of Utilities, along with Tierney, will hold meetings with Australian investors in Columbus. Additional meetings will be held in Columbus with buy-side investors from JP Morgan and Jennison.
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Watch for future Street Wise editions discussing earnings, renewables, and regulatory updates related to AEP and the electric utility industry.
The material contained within Street Wise is for informational purposes only. It is not, and should not be regarded as, investment advice or as a recommendation regarding any particular security or course of action, including actions in relation to equity or debt securities of AEP or its subsidiaries. You should consult financial advisors with respect to investments.
([View] the Street Wise archive.)
AEP closed at $84.71 April 26, posting a total return of .67% since April 12. During the same period, the S&P Electric Utilities Index total return was -.11%, and the S&P 500 Index total return was 1.14%.
Illinois
James Neihoff retired Saturday, February 9, 2019 from Cook Coal Terminal, Metropolis, IL, after 41 years
Indiana
Victoria Russell retired Thursday, February 21, 2019 from One Summit Square, Ft. Wayne, IN, after 38 years
James Gadacz retired Wednesday, February 13, 2019 from South Bend Service Center, South Bend, IN, after 39 years
Kentucky
Karen Farris retired Friday, February 1, 2019 from Hazard Service Center, Hazard, KY, after 43 years
Kevin Brown retired Friday, February 1, 2019 from Robert E. Matthews Service Center, Ashland, KY, after 37 years
Louisiana
Jeffrey Crain retired Wednesday, February 13, 2019 from Shreveport Office, Shreveport, LA, after 27 years
Jackie Burgans retired Friday, February 15, 2019 from Shreveport Operations, Shreveport, LA, after 38 years
Michigan
Linda Alfieri retired Saturday, February 16, 2019 from St. Joe Office and Service Center, Benton Harbor, MI, after 24 years
Wayne McGlothlen retired Thursday, February 28, 2019 from St. Joe Office and Service Center, Benton Harbor, MI, after 38 years
John Carlson Jr. retired Saturday, February 16, 2019 from Cook Nuclear Plant, Bridgman, MI, after 38 years
David Miller retired Tuesday, February 19, 2019 from Cook Nuclear Plant, Bridgman, MI, after 17 years
Robert Graham retired Wednesday, February 13, 2019 from Cook Nuclear Plant, Bridgman, MI, after 27 years
Sherry Nimtz retired Thursday, February 7, 2019 from Cook Nuclear Plant, Bridgman, MI, after 31 years
Michael Payne retired Wednesday, February 6, 2019 from Cook Nuclear Plant, Bridgman, MI, after 10 years
Ohio
Mark Shook retired Thursday, February 28, 2019 from AEP Headquarters, Columbus, OH, after 12 years
James Sorrell Jr. retired Saturday, February 23, 2019 from AEP Headquarters, Columbus, OH, after 29 years
David Waitkus retired Saturday, February 16, 2019 from AEP Headquarters, Columbus, OH, after 34 years
Richard Mayer retired Friday, February 1, 2019 from John E. Dolan Lab, Groveport, OH, after 40 years
John Johnson retired Friday, February 15, 2019 from Sandusky Transmission Service Center, Upper Sandusky, OH, after 48 years
Gregory King retired Tuesday, February 12, 2019 from Steubenville Service Center, Steubenville, OH, after 24 years
Kathleen Goedde retired Friday, February 1, 2019 from Lima Service Center, Lima, OH, after 41 years
Delores Adams retired Monday, February 4, 2019 from Chillicothe Service Center, Chillicothe, OH, after 13 years
Mark Conrad retired Friday, February 1, 2019 from Van Wert Service Center, Van Wert, OH, after 33 years
Barbara Martin retired Saturday, February 23, 2019 from Canton Eastern Regional Office, Canton, OH, after 44 years
Karen Paone retired Tuesday, February 12, 2019 from Canton Eastern Regional Office, Canton, OH, after 37 years
Russell Paone retired Tuesday, February 5, 2019 from Canton Eastern Regional Office, Canton, OH, after 21 years
Brian Brenot retired Tuesday, February 12, 2019 from AEP Transmission New Albany HQ, New Albany, OH after 11 years
Marc Ayle retired Friday, February 1, 2019 from AEP Ohio 700 Building, Gahanna, OH, after 22 years
Sara Rastegar retired Saturday, February 9, 2019 from New Albany Transmission Annex, New Albany, OH, after 11 years
Oklahoma
Michael McFarland retired Tuesday, February 12, 2019 from North Division Operations Center, Bartlesville, OK, after 34 years
Charles Lortz retired Thursday, February 21, 2019 from Northeastern Station 3 and 4, Oologah, OK, after 27 years
Alan Dean McLain retired Saturday, February 9, 2019 from Lawton Operations Center, Lawton, OK, after 13 years
Texas
Kenneth Fomby Jr. retired Tuesday, February 12, 2019 from Texarkana Operations, Texarkana, TX, after 37 years
Mark Kubala retired Tuesday, February 19, 2019 from El Campo Service Center, El Campo, TX, after 36 years
Tommy Wilson retired Friday, February 22, 2019 from Mt. Pleasant Construction, Mt. Pleasant, TX, after 37 years
Glenn Jones retired Wednesday, February 20, 2019 from Henderson Construction, Henderson, TX, after 11 years
Richard Gaytan retired Friday, February 1, 2019 from Bay City Service Center, Bay City, TX, after 19 years
Manuel Lopez retired Saturday, February 9, 2019 from Central Shops, Corpus Christi, TX, after 46 years
Juan Ramirez retired Friday, February 1, 2019 from Eagle Pass Service Center, Eagle Pass, TX, after 45 years
Virginia
Kenneth Lester retired Tuesday, February 12, 2019 from Floyd Service Center, Floyd, VA, after 32 years
Melvin Thorne Jr. retired Friday, February 1, 2019 from Glen Lyn/Pearisburg Service Center, Glen Lyn, VA, after 24 years
James Adams Jr. retired Saturday, February 16, 2019 from Lynchburg Service Center, Lynchburg, VA, after 32 years
Philip White retired Wednesday, February 27, 2019 from John W. Vaughan Center, Roanoke, VA, after 41 years
Randy Kessler retired Tuesday, February 12, 2019 from John W. Vaughan Center, Roanoke, VA, after 40 years
West Virginia
Ronald Carte retired Wednesday, February 20, 2019 from Hico Service Center, Hico, WV, after 28 years
Jonathan Strickland retired Thursday, February 14, 2019 from Amos Plant, Winfield, WV, after 39 years
Rodney Pugh retired Tuesday, February 26, 2019 from Mitchell Plant, Cresap, WV, after 38 years
Homer Nance retired Wednesday, February 13, 2019 from Milton Office and Service Center, Milton, WV, after 40 years
Timmy Hood retired Thursday, February 21, 2019 from Mountaineer Plant, New Haven, WV, after 37 years
James McKinley retired Thursday, February 21, 2019 from Mountaineer Plant, New Haven, WV, after 29 years
David Grubbs retired Friday, February 1, 2019 from Mountaineer Plant, New Haven, WV, after 26 years
Mark Kuntz retired Friday, February 1, 2019 from River Transportation Division West, Columbia, WV, after 22 years
Ohio
Vaughn Hinze, 99, retired, Portsmouth Service Center, Portsmouth, OH, died 2/25/2019
Robert Walters, 94, retired, AEP Headquarters, Columbus, OH, died 2/25/2019
Ballard Howell 80 retired Gavin Cheshire OH died 2/23/2019
Geoffrey Campbell, 70, John E. Dolan Lab, Groveport, OH, died 2/18/2019
Michael McCullough, 72, Steubenville Service Center, Steubenville, OH, died 2/18/2019
George Harber, 76, retired, Columbus Underground Line, Columbus, OH, died 2/18/2019
Douglas Cottrell, 61, Gavin, Cheshire, OH, died 2/17/2019
Paul Constantine, 87, retired, AEP Headquarters, Columbus, OH, died 2/17/2019
James Warner, 75, retired, Seaman Service Center, Seaman, OH died 2/17/2019
Paul Walton, 93, retired, Willard Service Center, Willard, OH, died 2/17/2019
Harry Petry, 77, New Philadelphia Service Bldg., New Philadelphia, OH, died 2/15/2019
William Cain, 86, retired, Cardinal Plant, Brilliant, OH, died 2/13/2019
Donald Trainer, 81, retired, Muskingum River, Waterford, OH, died 2/12/2019
Harold Azallion, 90, retired, AEP Headquarters, Columbus, OH, died 2/12/2019
Marilyn Beall, 84, retired, 850 Tech Center Bldg., Gahanna, OH, died 2/11/2019
Victor Smith, 78, 700 Building Gahanna, Gahanna, OH, died 2/10/2019
Robert Henderson, 81, retired, Muskingum River, Waterford, OH, died 2/9/2019
Emily Stein, 93, retired, Canton Eastern Regional Office, Canton, OH, died 2/9/2019
Arthur Pontones, 90, retired, Canton Eastern Regional Office, Canton, OH, died 2/5/2019
M. Frances Dingus, 91, retired, AEP Headquarters, Columbus, OH, died 2/4/2019
Edward Wilson, 72, retired, 850 Tech Center Bldg., Gahanna, OH, died 2/2/2019
Brenda Hickel, 67, Pomeroy Service Bldg., Pomeroy, OH, died 1/30/2019
Harvey Odell, 85, retired, Socco-Meigs Mine, Albany, OH, died 1/29/2019
Roy Hamilton, 91, retired, Socco-Meigs Mine, Albany, OH, died 1/24/2019
Harold Hoover, 78, retired, Columbus Northeast Service Center, Columbus, OH, died 12/20/2018
Michigan
Joe Johnson Sr., 87, retired, Cook Nuclear Plant, Bridgman, MI, died 2/25/2019
Carl Bates, 86, retired, Buchanan Office/Service Center, Buchanan, MI, died 1/26/2019
Oklahoma
Henry Willis, 78, retired, Mid Metro, Tulsa, OK, died 2/20/2019
Jerry Jarrett, 78, retired, Tulsa General Office, Tulsa, OK, died 2/3/2019
Mary Potter, 75, retired, Tulsa General Office, Tulsa, OK, died 2/2/2019
Gerald Ishmael, 81, retired, Tulsa General Office, Tulsa, OK, died 1/31/2019
Jeanne Thompson, 72, Tulsa General Office, Tulsa, OK, died 1/31/2019
Lee Goforth, 74, retired, Northeastern Station 1 and 2, Oologah, OK, died 1/18/2017
Geary Phillips, 74, Northeastern Station 3 and 4, Oologah, OK, died 1/10/2019
Virginia
Donald Johnson, 69, Roanoke Service Bldg., Roanoke, VA, died 2/20/2019
Louisiana
Wendall Blair, 66, Central Maintenance Facility, Shreveport, LA, died 2/19/2019
Jerry Warren, 82, retired, Shreveport General Office, Shreveport, LA, died 2/5/2019
Texas
John Ross, 89, retired, Home Office, Corpus Christi, TX, died 2/10/2019
Asa Logan, 84, retired, Home Office, Corpus Christi, TX, died 2/4/2019
Coolidge Gerdes, 92, retired, Home Office, Corpus Christi, TX, died 1/29/2019
Weldon Davis, 85, retired, General Office, Abilene, TX, died 1/25/2019
West Virginia
Joseph Harris, 82, retired, Amos Plant, Winfield, WV, died 2/10/2019
Paul Hull, 92, retired, North Charleston Service Center, Charleston, WV, died 2/4/2019
Jerry Morgan, 80, retired, Sporn Plant, New Haven, WV, died 1/23/2019
George Wolf, 95, retired, Sporn Plant, New Haven, WV, died 1/21/2019
Virginia
Marjorie Holley, 90, retired, Lynchburg Office, Lynchburg, VA, died 2/8/2019
Tivis Wright Jr., 82, retired, Abingdon Service Center, Abingdon, VA, died 2/5/2019
William Phipps, 71, retired, GlenLyn/Pearisburg Service Center, GlenLyn, VA, died 2/1/2019
New York
Walter Paulis, 96, retired, Rockefeller Center, New York, NY, died 2/5/2019
Indiana
Roland Marbeiter Jr., 91, retired, Elkhart Office/Service Bldg., Elkhart, IN, died 2/5/2019
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| Ron Emerson at the Village of Yorkville sign.
Photo by: Ken Drenten |
YORKVILLE, Ohio — The typical male AEP retiree is most likely content with playing some golf, enjoying family and grandchildren, doing some traveling and volunteer work, and keeping in touch with friends.
Ron Emerson, who retired from AEP in 1993 after a 45-year career, has done those things and then some. As of March 15, he will have spent 56 years as a member of the Yorkville Village Council.
The village of about 1,200 people, located along State Route 7 and the Ohio River between Martins Ferry and Steubenville, has been in existence since 1916. Emerson, 88, has had a direct impact on Yorkville for more than half the time the village has been incorporated.
After starting his political career in 1963 by filling the unexpired term of a council member who had passed away, he has served under eight different mayors and has been elected to 14 consecutive four-year terms.
“I’m thinking seriously about running again this fall,” he said. “I love to do this. It keeps me busy. That’s why I do it, to stay involved.”
Growing up in nearby Tiltonsville, Ohio, and graduating from Warren Consolidated High School, some of his earliest memories are of hitting golf balls. He gained a reputation as an excellent prep golfer, winning medals, tournaments and titles while in high school.
His friendships on the golf course led to an opportunity with Ohio Power.
In 1948, Emerson was hired into the Ohio Power Co. at the age of 18 as a laborer at Tidd Plant. He worked in various departments including the plant’s laboratory. In 1975 he was promoted to safety coordinator, working out of the Canton office and traveling to generating plants including Philo, Muskingum River, Kammer-Mitchell and Gavin. In 1985, he began working in Human Resources at Cardinal Plant.
“I never missed a day of work,” he said. “I also won a lot of AEP golf tournaments, including four golf tournaments at six different power plants. Over the years, I’ve won more than 30 tournaments.”
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| Yorkville is located between State Route 7 and the Ohio River. |
After retiring as HR manager at Cardinal in 1993, he continued to golf in amateur competitions, scoring a hole in one followed by an eagle (two strokes) on the very next hole, and, on another course, setting a course record in competition. Recently, due to health reasons, he has had to give up golfing but he hopes to get back on the course again soon.
His service to the community has continued throughout the years. Over time, his work as a council member has resulted in many civic improvements, including a walking track at the high school stadium, funding for new sidewalks in the village, new equipment for the fire and police departments, street repaving projects, and two more projects that he is especially pleased to have been part of.
He was instrumental in the late 1990s in helping bring a new steel mill and new jobs to the community. With a set of 10-year tax incentives from the village, the Ohio Coatings Co. mill continues to operate today, a rarity in the Ohio Valley.
The most meaningful project was working with the local Veterans of Foreign Wars to establish a monument to all war veterans, along with a World War II-era cannon, located at the village hall. The monument is special to him because his brother was killed in action in France in World War II.
“It’s a beautiful marble monument, and my wife Sally and I have undertaken the task of taking care of the monument, to do cleaning, waxing, and making sure flowers are planted,” he said. He also arranged for funding for the monument’s electric light.
The cannon was procured from a U.S. Army depot in Chambersburg, Pa. There is a certain amount of upkeep required on the cannon because it is still in fact owned by the U.S. government. “The village does not own the cannon — the Army can take it back if it’s ever needed,” he said with a chuckle.
Emerson was named the village historian when Yorkville celebrated its centennial in 2016, gathering memorabilia and speaking about the town’s history. “While I was researching the village’s history, I found a book that described the first council meeting,” he said. “There were no laws, no police, so that first meeting was about creating laws and what was needed to form a police department.”
In retirement, he and Sally are members of the Ohio State Buckeye Club and the Buckeye Boosters Club, and travel to many OSU football games; they help at the local food pantry, and enjoy get-togethers with their four children, 10 grandchildren and two great-granddaughters.
Among his most memorable trips are to the Dominican Republic for a nephew’s wedding, and to the Fiesta Bowl in Glendale, Ariz., to watch the Buckeyes win the 2002 National Championship. He is a member of the Yorkville Fire Department, has been involved with Relay For Life, and he meets friends every week at the Fairway Four Restaurant.
On June 20, 2013, he was recognized by the Ohio Senate for more than 50 years of service to his community as a council member.
“I don’t want to sit around and watch TV all the time. I just want to keep going,” he said. “Whatever I can do for the village, I’ll do it.”
Manuel “Manny” Lopez didn’t ride his bike to work at AEP Texas his entire 46-year career, just the last 38 years.
He was a meter reader at first, and the long days spent walking kept him fit. When Lopez took a job as a meter lab electrician, he said he needed to find a new way to stay active. So he started cycling to and from work, a 13-mile round trip.
Safety is important to Lopez, so he wears a helmet, gloves, and never rides in the rain. He figures he commuted on bike 5 days a week, 42 weeks a year, for 38 years until his retirement earlier this month. That’s 103,740 miles on two wheels.
“I’m going to miss riding to work,” Lopez said, “but I’m still going to ride, that’s part of my lifestyle.”
