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WRAPUP 1-AEP, Dominion profits lag Wall St views
January 28, 2011 / 1:10 PM / in 7 years

WRAPUP 1-AEP, Dominion profits lag Wall St views

* AEP earnings hurt by Ohio refund

* Dominion profits rise on weather, but miss forecast

NEW YORK, Jan 28 (Reuters) - Utility companies American Electric Power (AEP.N) and Dominion Resources Inc (D.N) posted lower-than-expected fourth-quarter earnings on Friday.

AEP’s quarterly earnings suffered because of a $43 million refund that regulators in Ohio required its business there to pay.

The company’s earnings per share of 38 cents, excluding one-time items, fell 2 cents short of Wall Street estimates. (For table on AEP and Dominion results, click [ID:nSGE70R0B0])

Dominion, which sold its Appalachian exploration and production business early last year for about $3.5 billion, saw its quarterly earnings climb, helped by weather-related demand.

But its earnings per share of 63 cents, excluding one-time items, also missed Wall Street forecasts, by 3 cents. (Reporting by Matt Daily; Editing by Lisa Von Ahn)

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