American Electric Power (NASDAQ:AEP) Updates FY22 Earnings Guidance

American Electric Power (NASDAQ:AEPGet Rating) updated its FY22 earnings guidance on Thursday. The company provided EPS guidance of $4.87-$5.07 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.99.

AEP has been the topic of several research reports. Credit Suisse Group initiated coverage on American Electric Power in a research report on Monday. They issued an outperform rating and a $113.00 target price on the stock. Mizuho raised their price objective on American Electric Power from $94.00 to $104.00 and gave the stock a buy rating in a research note on Tuesday, March 29th. StockNews.com started coverage on American Electric Power in a research note on Thursday, March 31st. They issued a hold rating on the stock. Seaport Res Ptn downgraded American Electric Power from a buy rating to a neutral rating in a research note on Monday, March 14th. Finally, Wells Fargo & Company raised American Electric Power from an equal weight rating to an overweight rating and raised their price objective for the stock from $93.00 to $101.00 in a research note on Monday, February 28th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, American Electric Power currently has an average rating of Buy and an average target price of $104.70.

AEP opened at $99.53 on Thursday. The business has a fifty day moving average of $97.32 and a 200 day moving average of $90.18. American Electric Power has a 52-week low of $80.22 and a 52-week high of $104.81. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.38. The stock has a market cap of $50.22 billion, a P/E ratio of 19.99, a PEG ratio of 3.55 and a beta of 0.35.

American Electric Power (NASDAQ:AEPGet Rating) last posted its quarterly earnings data on Thursday, February 24th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.04. American Electric Power had a return on equity of 10.78% and a net margin of 14.80%. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter in the previous year, the business earned $0.87 EPS. American Electric Power’s revenue was up 13.9% compared to the same quarter last year. Equities analysts anticipate that American Electric Power will post 4.99 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Tuesday, May 10th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Monday, May 9th. American Electric Power’s payout ratio is currently 62.65%.

In other American Electric Power news, insider Jospeh M. Buonaiuto sold 5,200 shares of American Electric Power stock in a transaction on Friday, March 4th. The stock was sold at an average price of $95.75, for a total transaction of $497,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Matthew Feinberg sold 2,699 shares of American Electric Power stock in a transaction on Monday, April 4th. The shares were sold at an average price of $100.85, for a total value of $272,194.15. Following the sale, the executive vice president now directly owns 16,302 shares of the company’s stock, valued at $1,644,056.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,562 shares of company stock valued at $3,040,061. 0.12% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Covington Capital Management acquired a new position in American Electric Power during the 4th quarter valued at about $35,000. Forum Financial Management LP purchased a new stake in American Electric Power during the 4th quarter valued at about $207,000. Zullo Investment Group Inc. purchased a new stake in American Electric Power during the 4th quarter valued at about $219,000. EverSource Wealth Advisors LLC purchased a new stake in shares of American Electric Power in the fourth quarter worth about $238,000. Finally, V Wealth Advisors LLC boosted its stake in shares of American Electric Power by 412.8% in the fourth quarter. V Wealth Advisors LLC now owns 2,677 shares of the company’s stock worth $239,000 after buying an additional 2,155 shares during the last quarter. 74.08% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Company Profile (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.

Further Reading

Earnings History and Estimates for American Electric Power (NASDAQ:AEP)

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