American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) – Analysts at Seaport Res Ptn dropped their FY2023 earnings estimates for American Electric Power in a report released on Wednesday, February 7th. Seaport Res Ptn analyst A. Storozynski now anticipates that the company will earn $5.28 per share for the year, down from their prior forecast of $5.29. The consensus estimate for American Electric Power’s current full-year earnings is $5.27 per share. Seaport Res Ptn also issued estimates for American Electric Power’s FY2024 earnings at $5.59 EPS.
AEP has been the topic of a number of other reports. Guggenheim downgraded shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $81.00 price target on the stock. in a research note on Monday, January 22nd. Barclays boosted their price target on shares of American Electric Power from $82.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, January 22nd. Morgan Stanley boosted their price target on shares of American Electric Power from $93.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, November 21st. JPMorgan Chase & Co. cut their target price on shares of American Electric Power from $96.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, October 12th. Finally, BMO Capital Markets cut their target price on shares of American Electric Power from $94.00 to $88.00 and set an “outperform” rating on the stock in a research note on Monday, January 22nd. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.73.
American Electric Power Stock Performance
NASDAQ:AEP opened at $77.33 on Thursday. American Electric Power has a twelve month low of $69.38 and a twelve month high of $96.05. The company has a market cap of $40.67 billion, a P/E ratio of 17.74, a P/E/G ratio of 2.71 and a beta of 0.49. The company’s 50-day moving average price is $80.35 and its 200-day moving average price is $78.94. The company has a current ratio of 0.60, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45.
Institutional Investors Weigh In On American Electric Power
Hedge funds and other institutional investors have recently modified their holdings of the stock. FSC Wealth Advisors LLC boosted its stake in shares of American Electric Power by 222.0% during the 3rd quarter. FSC Wealth Advisors LLC now owns 351 shares of the company’s stock worth $26,000 after acquiring an additional 242 shares in the last quarter. Fairfield Bush & CO. purchased a new stake in American Electric Power in the 2nd quarter valued at approximately $26,000. Penserra Capital Management LLC purchased a new stake in American Electric Power in the 1st quarter valued at approximately $27,000. Pacifica Partners Inc. lifted its stake in American Electric Power by 2,343.8% in the 3rd quarter. Pacifica Partners Inc. now owns 391 shares of the company’s stock valued at $28,000 after buying an additional 375 shares in the last quarter. Finally, True Wealth Design LLC purchased a new stake in American Electric Power in the 4th quarter valued at approximately $28,000. 74.68% of the stock is currently owned by institutional investors and hedge funds.
American Electric Power Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Friday, February 9th will be given a dividend of $0.88 per share. The ex-dividend date is Thursday, February 8th. This represents a $3.52 dividend on an annualized basis and a yield of 4.55%. American Electric Power’s payout ratio is currently 80.73%.
About American Electric Power
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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