American Electric Power said it has hired Morgan Stanley to explore strategic alternatives for competitive barge transportation subsidiary, AEP River Operations. The company said there is no guarantee that any deal will be reached, or on what terms. AEP River recorded net earnings of $32 million in the fourth quarter, compared with total American Electric Power earnings of $191 million. American Electric's stock gained 0.4% in midday trade. It has lost 4.6% year to date, while the S&P 500 has gained 2.5%.
Copyright © 2015 MarketWatch, Inc.
Continue Reading Below