American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating) – Equities research analysts at KeyCorp lowered their Q1 2022 EPS estimates for shares of American Electric Power in a research report issued to clients and investors on Tuesday, April 19th. KeyCorp analyst S. Karp now expects that the company will post earnings of $1.20 per share for the quarter, down from their prior estimate of $1.25. KeyCorp also issued estimates for American Electric Power’s Q2 2022 earnings at $1.20 EPS, Q3 2022 earnings at $1.52 EPS, FY2022 earnings at $4.97 EPS, FY2024 earnings at $5.69 EPS, FY2025 earnings at $6.03 EPS and FY2026 earnings at $6.36 EPS.
AEP has been the subject of several other research reports. Wells Fargo & Company upgraded American Electric Power from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $93.00 to $101.00 in a report on Monday, February 28th. Seaport Res Ptn cut American Electric Power from a “buy” rating to a “neutral” rating in a report on Monday, March 14th. Royal Bank of Canada lifted their price target on American Electric Power from $101.00 to $106.00 and gave the company an “outperform” rating in a report on Monday, March 7th. StockNews.com started coverage on American Electric Power in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Mizuho boosted their target price on American Electric Power from $94.00 to $104.00 and gave the stock a “buy” rating in a report on Tuesday, March 29th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, American Electric Power has a consensus rating of “Buy” and a consensus target price of $103.31.
American Electric Power (NASDAQ:AEP – Get Rating) last issued its earnings results on Thursday, February 24th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.94 by $0.04. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $3.94 billion. American Electric Power had a net margin of 14.80% and a return on equity of 10.78%. The business’s revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.87 EPS.
Several institutional investors and hedge funds have recently made changes to their positions in AEP. Industrial Alliance Investment Management Inc. acquired a new position in shares of American Electric Power in the 4th quarter valued at approximately $26,000. US Asset Management LLC acquired a new position in shares of American Electric Power in the 1st quarter valued at approximately $28,000. Arlington Partners LLC acquired a new position in shares of American Electric Power in the 4th quarter valued at approximately $29,000. Covington Capital Management acquired a new position in shares of American Electric Power in the 4th quarter valued at approximately $35,000. Finally, Rather & Kittrell Inc. acquired a new position in shares of American Electric Power in the 4th quarter valued at approximately $38,000. 74.08% of the stock is currently owned by institutional investors.
In other American Electric Power news, CEO Nicholas K. Akins sold 2,100 shares of the company’s stock in a transaction that occurred on Tuesday, February 1st. The stock was sold at an average price of $89.91, for a total value of $188,811.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul Chodak III sold 6,361 shares of the company’s stock in a transaction that occurred on Tuesday, March 15th. The stock was sold at an average price of $95.54, for a total value of $607,729.94. The disclosure for this sale can be found here. Insiders have sold a total of 32,562 shares of company stock valued at $3,040,061 in the last quarter. Company insiders own 0.12% of the company’s stock.
About American Electric Power (Get Rating)
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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