KeyCorp Research Analysts Decrease Earnings Estimates for American Electric Power Company, Inc. (NASDAQ:AEP)

American Electric Power Company, Inc. (NASDAQ:AEPGet Rating) – Research analysts at KeyCorp decreased their Q3 2022 earnings estimates for American Electric Power in a research report issued on Thursday, August 4th. KeyCorp analyst S. Karp now forecasts that the company will post earnings of $1.53 per share for the quarter, down from their prior forecast of $1.57. The consensus estimate for American Electric Power’s current full-year earnings is $5.00 per share. KeyCorp also issued estimates for American Electric Power’s FY2023 earnings at $5.35 EPS.

American Electric Power (NASDAQ:AEPGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.01. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $3.98 billion. American Electric Power had a net margin of 14.39% and a return on equity of 10.46%. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.18 earnings per share.

A number of other equities research analysts have also weighed in on the stock. Credit Suisse Group boosted their price objective on shares of American Electric Power from $103.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, July 28th. Morgan Stanley lowered their price target on shares of American Electric Power from $113.00 to $101.00 and set an “overweight” rating on the stock in a report on Thursday, June 23rd. Finally, Citigroup upped their price target on shares of American Electric Power from $94.00 to $99.00 in a report on Thursday, July 28th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, American Electric Power has a consensus rating of “Moderate Buy” and an average price target of $102.67.

American Electric Power Price Performance

Shares of AEP opened at $99.46 on Friday. The firm has a market capitalization of $51.10 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 3.22 and a beta of 0.35. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.66. American Electric Power has a 1-year low of $80.22 and a 1-year high of $104.81. The company’s fifty day moving average price is $95.90 and its 200-day moving average price is $95.93.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in American Electric Power by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 45,377,335 shares of the company’s stock valued at $4,527,297,000 after acquiring an additional 2,305,001 shares during the last quarter. State Street Corp raised its holdings in American Electric Power by 8.8% in the 1st quarter. State Street Corp now owns 27,777,603 shares of the company’s stock valued at $2,771,371,000 after acquiring an additional 2,256,671 shares during the last quarter. BlackRock Inc. raised its holdings in American Electric Power by 4.8% in the 4th quarter. BlackRock Inc. now owns 41,461,321 shares of the company’s stock valued at $3,688,814,000 after acquiring an additional 1,910,807 shares during the last quarter. Jennison Associates LLC acquired a new stake in American Electric Power in the 1st quarter valued at about $100,500,000. Finally, Marshall Wace LLP raised its holdings in American Electric Power by 1,477.3% in the 4th quarter. Marshall Wace LLP now owns 1,066,861 shares of the company’s stock valued at $94,919,000 after acquiring an additional 999,221 shares during the last quarter. Institutional investors and hedge funds own 73.26% of the company’s stock.

Insiders Place Their Bets

In other American Electric Power news, EVP Therace Risch sold 5,330 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $102.35, for a total value of $545,525.50. Following the completion of the transaction, the executive vice president now owns 8,248 shares in the company, valued at $844,182.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other American Electric Power news, EVP Therace Risch sold 5,330 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $102.35, for a total value of $545,525.50. Following the completion of the transaction, the executive vice president now owns 8,248 shares in the company, valued at $844,182.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Charles E. Zebula sold 1,902 shares of the company’s stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $99.05, for a total transaction of $188,393.10. Following the transaction, the executive vice president now owns 18,134 shares of the company’s stock, valued at approximately $1,796,172.70. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Wednesday, August 10th will be given a $0.78 dividend. The ex-dividend date of this dividend is Tuesday, August 9th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.14%. American Electric Power’s dividend payout ratio (DPR) is currently 61.30%.

About American Electric Power

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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.

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