American Electric Power Company, Inc. Forecasted to Earn Q1 2024 Earnings of $1.35 Per Share (NASDAQ:AEP)

American Electric Power Company, Inc. (NASDAQ:AEP) – Zacks Research boosted their Q1 2024 EPS estimates for shares of American Electric Power in a research note issued to investors on Wednesday, April 24th. Zacks Research analyst R. Department now forecasts that the company will earn $1.35 per share for the quarter, up from their previous estimate 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.

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

A number of other research firms have also issued reports on AEP. Barclays raised their target price on shares of American Electric Power from $83.00 to $84.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Guggenheim lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $81.00 target price on the stock. in a research note on Monday, January 22nd. StockNews.com lowered shares of American Electric Power from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. Scotiabank lowered their target price on shares of American Electric Power from $92.00 to $86.00 and set a “sector outperform” rating on the stock in a research note on Monday. Finally, Cfra reiterated a “buy” rating and issued a $92.00 target price (up from $90.00) on shares of American Electric Power in a research note on Tuesday, February 27th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $86.08.

American Electric Power Stock Performance

Shares of AEP opened at $86.37 on Thursday. American Electric Power has a 12 month low of $69.38 and a 12 month high of $94.73. The company’s fifty day moving average is $83.34 and its 200-day moving average is $80.29. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 1.49. The firm has a market cap of $45.48 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 3.00 and a beta of 0.51.

Hedge Funds Weigh In On American Electric Power

A number of hedge funds and other institutional investors have recently made changes to their positions in AEP. International Assets Investment Management LLC lifted its holdings in shares of American Electric Power by 8.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,470 shares of the company’s stock worth $263,000 after acquiring an additional 283 shares during the period. DAVENPORT & Co LLC lifted its holdings in American Electric Power by 2.0% during the 3rd quarter. DAVENPORT & Co LLC now owns 62,239 shares of the company’s stock valued at $4,682,000 after purchasing an additional 1,202 shares during the last quarter. Meridian Wealth Management LLC lifted its holdings in American Electric Power by 116.3% during the 3rd quarter. Meridian Wealth Management LLC now owns 12,102 shares of the company’s stock valued at $910,000 after purchasing an additional 6,506 shares during the last quarter. Caprock Group LLC bought a new position in American Electric Power during the 3rd quarter valued at about $251,000. Finally, RDA Financial Network lifted its holdings in American Electric Power by 14.4% during the 3rd quarter. RDA Financial Network now owns 3,696 shares of the company’s stock valued at $278,000 after purchasing an additional 464 shares during the last quarter. 75.24% of the stock is owned by institutional investors.

American Electric Power Dividend Announcement

The firm also recently disclosed 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. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Thursday, May 9th. American Electric Power’s payout ratio is 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.