Q2 2024 EPS Estimates for American Electric Power Company, Inc. Lifted by Zacks Research (NASDAQ:AEP)

American Electric Power Company, Inc. (NASDAQ:AEP) – Investment analysts at Zacks Research upped their Q2 2024 EPS estimates for American Electric Power in a note issued to investors on Tuesday, May 21st. Zacks Research analyst R. Department now expects that the company will earn $1.21 per share for the quarter, up from their prior forecast of $1.07. The consensus estimate for American Electric Power’s current full-year earnings is $5.58 per share. Zacks Research also issued estimates for American Electric Power’s Q3 2024 earnings at $1.72 EPS, Q4 2024 earnings at $1.34 EPS, Q1 2025 earnings at $1.38 EPS, Q2 2025 earnings at $1.14 EPS, Q3 2025 earnings at $1.52 EPS and Q4 2025 earnings at $1.83 EPS.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Tuesday, April 30th. The company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.02. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The business had revenue of $5 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same period in the previous year, the company posted $1.11 EPS. The company’s quarterly revenue was up 6.4% on a year-over-year basis.

A number of other equities research analysts have also recently issued reports on the company. Wells Fargo & Company raised their target price on American Electric Power from $84.00 to $89.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. LADENBURG THALM/SH SH lowered American Electric Power from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $75.50 to $73.00 in a report on Friday, March 8th. Barclays boosted their price objective on American Electric Power from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. BMO Capital Markets upped their price target on American Electric Power from $95.00 to $99.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. Finally, UBS Group downgraded American Electric Power from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $86.00 to $83.00 in a report on Monday, March 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $88.43.

American Electric Power Price Performance

American Electric Power stock opened at $92.62 on Wednesday. The firm’s 50-day simple moving average is $85.90 and its 200 day simple moving average is $82.26. American Electric Power has a 52 week low of $69.38 and a 52 week high of $93.44. The firm has a market capitalization of $48.82 billion, a PE ratio of 17.18, a P/E/G ratio of 2.86 and a beta of 0.50. The company has a quick ratio of 0.37, a current ratio of 0.54 and a debt-to-equity ratio of 1.50.

Hedge Funds Weigh In On American Electric Power

Large investors have recently bought and sold shares of the business. Wellington Management Group LLP boosted its position in shares of American Electric Power by 14.4% during the third quarter. Wellington Management Group LLP now owns 28,591,562 shares of the company’s stock worth $2,150,657,000 after buying an additional 3,589,451 shares during the period. Nomura Holdings Inc. acquired a new stake in shares of American Electric Power during the fourth quarter worth about $175,667,000. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of American Electric Power by 542.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock worth $193,541,000 after purchasing an additional 1,927,234 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of American Electric Power by 381.9% during the first quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock worth $171,127,000 after buying an additional 1,581,734 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of American Electric Power by 221.9% during the first quarter. National Bank of Canada FI now owns 1,715,346 shares of the company’s stock worth $157,140,000 after buying an additional 1,182,451 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.88 per share. The ex-dividend date is Thursday, May 9th. This represents a $3.52 annualized dividend and a yield of 3.80%. American Electric Power’s payout ratio is presently 65.31%.

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.