American Electric Power Company, Inc. (NASDAQ:AEP) to Post Q3 2022 Earnings of $1.53 Per Share, KeyCorp Forecasts

American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating) – Equities researchers at KeyCorp dropped their Q3 2022 earnings per share (EPS) estimates for shares of American Electric Power in a research report issued to clients and investors on Thursday, August 4th. KeyCorp analyst S. Karp now expects that the company will earn $1.53 per share for the quarter, down from their prior forecast of $1.57. The consensus estimate for American Electric Power’s current full-year earnings is $5.00 per share. KeyCorp also issued estimates for American Electric Power’s FY2023 earnings at $5.35 EPS.

American Electric Power (NASDAQ:AEP – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.01. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $3.98 billion. American Electric Power had a return on equity of 10.46% and a net margin of 14.39%. American Electric Power’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.18 EPS.

Other research analysts have also issued research reports about the company. Citigroup increased their target price on American Electric Power from $94.00 to $99.00 in a research report on Thursday, July 28th. Morgan Stanley decreased their target price on American Electric Power from $113.00 to $101.00 and set an “overweight” rating for the company in a research report on Thursday, June 23rd. Finally, Credit Suisse Group increased their target price on American Electric Power from $103.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, July 28th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.67.

American Electric Power Stock Down 0.5 %

Shares of NASDAQ:AEP opened at $99.46 on Friday. American Electric Power has a 52-week low of $80.22 and a 52-week high of $104.81. The firm has a market capitalization of $51.10 billion, a P/E ratio of 19.54, a P/E/G ratio of 3.22 and a beta of 0.35. The stock has a 50 day moving average price of $95.90 and a 200-day moving average price of $95.93. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.66 and a current ratio of 0.75.

Hedge Funds Weigh In On American Electric Power

Several hedge funds and other institutional investors have recently modified their holdings of AEP. American Research & Management Co. lifted its holdings in shares of American Electric Power by 100.0% during the 1st quarter. American Research & Management Co. now owns 250 shares of the company’s stock valued at $25,000 after buying an additional 125 shares during the period. Center for Financial Planning Inc. raised its holdings in American Electric Power by 1,288.9% in the 1st quarter. Center for Financial Planning Inc. now owns 250 shares of the company’s stock worth $25,000 after purchasing an additional 232 shares during the period. TFO TDC LLC bought a new position in American Electric Power in the 2nd quarter worth $25,000. Industrial Alliance Investment Management Inc. bought a new position in American Electric Power in the 4th quarter worth $26,000. Finally, Penserra Capital Management LLC bought a new position in American Electric Power in the 1st quarter worth $27,000. 73.26% of the stock is owned by institutional investors.

Insider Buying and Selling at American Electric Power

In other American Electric Power news, EVP Charles E. Zebula sold 1,902 shares of the stock in a transaction on Friday, May 20th. The stock was sold at an average price of $99.05, for a total transaction of $188,393.10. Following the sale, the executive vice president now directly owns 18,134 shares in the company, valued at approximately $1,796,172.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Therace Risch sold 5,330 shares of the stock in a transaction on Monday, June 6th. The stock was sold at an average price of $102.35, for a total transaction of $545,525.50. Following the transaction, the executive vice president now directly owns 8,248 shares of the company’s stock, valued at approximately $844,182.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Charles E. Zebula sold 1,902 shares of the stock in a transaction on Friday, May 20th. The shares were sold at an average price of $99.05, for a total value of $188,393.10. Following the transaction, the executive vice president now directly owns 18,134 shares in the company, valued at $1,796,172.70. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

American Electric Power Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Wednesday, August 10th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Tuesday, August 9th. This represents a $3.12 annualized dividend and a dividend yield of 3.14%. American Electric Power’s payout ratio is currently 61.30%.

About American Electric Power

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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.