American Electric Power Company, Inc. (NASDAQ:AEP) Forecasted to Post FY2023 Earnings of $5.68 Per Share

American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating) – Investment analysts at KeyCorp lifted their FY2023 earnings per share (EPS) estimates for shares of American Electric Power in a report issued on Monday, January 16th. KeyCorp analyst S. Karp now expects that the company will earn $5.68 per share for the year, up from their prior forecast of $5.33. The consensus estimate for American Electric Power’s current full-year earnings is $5.03 per share. KeyCorp also issued estimates for American Electric Power’s FY2024 earnings at $6.01 EPS and FY2025 earnings at $6.41 EPS.

American Electric Power (NASDAQ:AEP – Get Rating) last issued its earnings results on Thursday, October 27th. The company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.05. American Electric Power had a net margin of 13.08% and a return on equity of 10.73%. The company had revenue of $5.50 billion during the quarter, compared to analyst estimates of $4.75 billion. During the same quarter last year, the business posted $1.43 EPS. The company’s revenue for the quarter was up 19.6% on a year-over-year basis.

A number of other research firms also recently weighed in on AEP. Wells Fargo & Company raised their price target on shares of American Electric Power from $96.00 to $108.00 in a report on Wednesday, December 14th. Bank of America cut American Electric Power from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $101.00 to $98.00 in a research report on Monday, December 19th. Morgan Stanley increased their price objective on American Electric Power from $104.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, December 15th. Mizuho reduced their target price on American Electric Power from $104.00 to $101.00 and set a “buy” rating for the company in a report on Friday, December 16th. Finally, Guggenheim lowered their price target on American Electric Power from $109.00 to $93.00 in a report on Monday, October 24th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, American Electric Power presently has an average rating of “Moderate Buy” and a consensus price target of $101.82.

American Electric Power Price Performance

Shares of AEP opened at $92.45 on Wednesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.69 and a current ratio of 0.79. The firm has a market cap of $47.51 billion, a PE ratio of 19.58, a PEG ratio of 2.91 and a beta of 0.42. The firm’s 50 day moving average price is $94.74 and its 200 day moving average price is $94.27. American Electric Power has a twelve month low of $80.30 and a twelve month high of $105.60.

Institutional Trading of American Electric Power

A number of hedge funds have recently modified their holdings of AEP. Vanguard Group Inc. raised its stake in shares of American Electric Power by 1.5% in the third quarter. Vanguard Group Inc. now owns 47,540,815 shares of the company’s stock valued at $4,109,904,000 after purchasing an additional 712,350 shares in the last quarter. BlackRock Inc. increased its stake in American Electric Power by 0.9% in the third quarter. BlackRock Inc. now owns 42,719,729 shares of the company’s stock valued at $3,693,119,000 after acquiring an additional 368,921 shares during the period. State Street Corp raised its position in American Electric Power by 4.8% in the second quarter. State Street Corp now owns 29,105,487 shares of the company’s stock worth $2,792,380,000 after purchasing an additional 1,327,884 shares in the last quarter. Northern Trust Corp boosted its holdings in American Electric Power by 2.6% during the second quarter. Northern Trust Corp now owns 5,295,063 shares of the company’s stock valued at $508,008,000 after purchasing an additional 131,872 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of American Electric Power by 2.8% in the 3rd quarter. Alliancebernstein L.P. now owns 4,568,635 shares of the company’s stock valued at $394,958,000 after purchasing an additional 123,349 shares during the period. Institutional investors own 74.33% of the company’s stock.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Thursday, November 10th were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Wednesday, November 9th. This is a boost from American Electric Power’s previous quarterly dividend of $0.78. American Electric Power’s dividend payout ratio (DPR) is presently 68.74%.

About American Electric Power

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American Electric Power Co, Inc engages in the generation, transmission, and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation and Marketing. The Vertically Integrated Utilities segment covers the generation, transmission, and distribution of electricity for sale to retail and wholesale customers.