Q1 2024 EPS Estimates for American Electric Power Company, Inc. Lifted by Zacks Research (NASDAQ:AEP)

American Electric Power Company, Inc. (NASDAQ:AEP) – Zacks Research lifted their Q1 2024 earnings per share (EPS) estimates for shares of American Electric Power in a note issued to investors on Wednesday, April 24th. Zacks Research analyst R. Department now anticipates that the company will post earnings of $1.35 per share for the quarter, up from their previous forecast of $1.33. The consensus estimate for American Electric Power’s current full-year earnings is $5.54 per share. Zacks Research also issued estimates for American Electric Power’s Q2 2024 earnings at $1.07 EPS, Q1 2025 earnings at $1.36 EPS, Q2 2025 earnings at $1.13 EPS, Q1 2026 earnings at $1.06 EPS and FY2026 earnings at $6.18 EPS.

Other equities research analysts have also recently issued reports about the stock. StockNews.com lowered shares of American Electric Power from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. Barclays raised their price objective on shares of American Electric Power from $83.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Cfra reaffirmed a “buy” rating and issued a $92.00 target price (up previously from $90.00) on shares of American Electric Power in a research report on Tuesday, February 27th. LADENBURG THALM/SH SH downgraded American Electric Power from a “neutral” rating to a “sell” rating and reduced their price target for the company from $75.50 to $73.00 in a research note on Friday, March 8th. Finally, Guggenheim cut American Electric Power from a “buy” rating to a “neutral” rating and set a $81.00 price objective on the stock. in a research report on Monday, January 22nd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $86.08.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $85.26 on Thursday. American Electric Power has a 12 month low of $69.38 and a 12 month high of $93.56. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $44.90 billion, a PE ratio of 20.06, a PEG ratio of 3.05 and a beta of 0.51. The stock’s fifty day simple moving average is $83.53 and its 200 day simple moving average is $80.42.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.03). The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $5.12 billion. American Electric Power had a return on equity of 11.04% and a net margin of 11.64%. American Electric Power’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.05 earnings per share.

Hedge Funds Weigh In On American Electric Power

Several large investors have recently modified their holdings of the business. Wellington Management Group LLP increased its stake in shares of American Electric Power by 14.4% in the 3rd quarter. Wellington Management Group LLP now owns 28,591,562 shares of the company’s stock valued at $2,150,657,000 after acquiring an additional 3,589,451 shares in the last quarter. Nomura Holdings Inc. acquired a new position in American Electric Power during the fourth quarter worth $175,667,000. Invesco Ltd. lifted its stake in shares of American Electric Power by 13.7% in the third quarter. Invesco Ltd. now owns 9,798,204 shares of the company’s stock valued at $737,021,000 after buying an additional 1,181,706 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of American Electric Power by 67.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 2,586,250 shares of the company’s stock valued at $210,055,000 after buying an additional 1,043,885 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd boosted its stake in American Electric Power by 70.7% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 1,953,072 shares of the company’s stock valued at $145,835,000 after purchasing an additional 809,067 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.88 per share. The ex-dividend date is Thursday, May 9th. This represents a $3.52 annualized dividend and a dividend yield of 4.13%. American Electric Power’s dividend payout ratio (DPR) is presently 82.82%.

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.