American Electric Power Company Inc (NASDAQ:AEP) shares are trading higher in premarket Friday. The company announced that a 50/50 strategic partnership between KKR & Co Inc (NYSE:KKR) and PSP Investments has agreed to acquire 19.

We recently compiled a list of the 12 Best Utility Stocks to Buy According to Hedge Funds. In this article, we are going to take a look at where American Electric Power Company, Inc. (NASDAQ:AEP) stands against the other utility stocks.

KKR (KKR) said Thursday it formed a 50/50 strategic partnership with Canada's PSP Investments to acquire 19.9% stakes in American Electric Power's (NASDAQ:AEP) Ohio and Indiana transmission company, as well as its Michigan transmission company,

Today, investment funds managed by KKR, a leading global investment firm, and the Public Sector Pension Investment Board ("PSP Investments"), one of Canada’s largest pension investors, announced an agreement to acquire a 19.

American Electric Power Company, Inc. (NASDAQ:AEP – Get Free Report) has received a consensus rating of “Hold” from the fifteen ratings firms that are presently covering the company, MarketBeat Ratings reports.

KKR and PSP Investments have agreed to acquire a minority stake in American Electric Power’s Ohio and Indiana and Michigan transmission companies for $2.82 billion. Founded in 1906, AEP is a US-based electric utility that serves customers across 11 states.