Equities Analysts Set Expectations for AEP FY2024 Earnings

American Electric Power Company, Inc. (NASDAQ:AEP) – Research analysts at Seaport Res Ptn lifted their FY2024 earnings per share (EPS) estimates for American Electric Power in a report released on Thursday, October 31st. Seaport Res Ptn analyst A. Storozynski now forecasts that the company will earn $5.62 per share for the year, up from their previous estimate of $5.59. The consensus estimate for American Electric Power’s current full-year earnings is $5.60 per share. Seaport Res Ptn also issued estimates for American Electric Power’s FY2026 earnings at $6.30 EPS, FY2027 earnings at $6.52 EPS and FY2028 earnings at $6.89 EPS.

Several other research firms have also recently weighed in on AEP. Wells Fargo & Company increased their price target on shares of American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Guggenheim boosted their price target on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. lifted their price objective on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Jefferies Financial Group assumed coverage on American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 target price on the stock. Finally, Scotiabank raised their price objective on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power currently has an average rating of “Hold” and a consensus target price of $98.43.

American Electric Power Stock Down 1.5 %

Shares of AEP stock opened at $97.25 on Friday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. The stock has a market cap of $51.75 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 2.78 and a beta of 0.55. American Electric Power has a 52-week low of $74.97 and a 52-week high of $105.18. The firm’s 50-day moving average is $100.68 and its 200-day moving average is $94.45.

Institutional Investors Weigh In On American Electric Power

A number of hedge funds have recently added to or reduced their stakes in the stock. HHM Wealth Advisors LLC increased its holdings in shares of American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares during the last quarter. E Fund Management Co. Ltd. increased its position in American Electric Power by 2.0% during the second quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after acquiring an additional 105 shares during the last quarter. XML Financial LLC boosted its stake in shares of American Electric Power by 3.8% during the 3rd quarter. XML Financial LLC now owns 2,921 shares of the company’s stock worth $300,000 after purchasing an additional 106 shares during the period. Garrison Asset Management LLC grew its position in American Electric Power by 0.6% in the 3rd quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock valued at $1,950,000 after acquiring an additional 109 shares during the last quarter. Finally, Roanoke Asset Management Corp NY increased its stake in American Electric Power by 2.2% in the 3rd quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock worth $516,000 after buying an additional 110 shares during the period. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.83%. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio is 74.10%.

American Electric Power Company Profile

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.