Seaport Res Ptn Issues Optimistic Estimate for AEP Earnings

American Electric Power Company, Inc. (NASDAQ:AEP) – Equities researchers at Seaport Res Ptn raised their FY2024 earnings per share (EPS) estimates for American Electric Power in a research report issued to clients and investors on Thursday, October 31st. Seaport Res Ptn analyst A. Storozynski now anticipates that the company will post earnings of $5.62 per share for the year, up from their prior forecast of $5.59. The consensus estimate for American Electric Power’s current full-year earnings is $5.60 per share. Seaport Res Ptn also issued estimates for American Electric Power’s FY2026 earnings at $6.30 EPS, FY2027 earnings at $6.52 EPS and FY2028 earnings at $6.89 EPS.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.13 earnings per share.

AEP has been the topic of several other research reports. BMO Capital Markets boosted their price target on American Electric Power from $109.00 to $114.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Scotiabank boosted their price target on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Bank of America increased their target price on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Wells Fargo & Company increased their target price on American Electric Power from $98.00 to $104.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, Barclays increased their target price on American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $98.43.

American Electric Power Trading Down 1.5 %

Shares of AEP opened at $97.25 on Friday. The stock’s 50-day moving average is $100.68 and its two-hundred day moving average is $94.35. The stock has a market cap of $51.75 billion, a PE ratio of 19.37, a P/E/G ratio of 2.78 and a beta of 0.54. American Electric Power has a 12 month low of $74.97 and a 12 month high of $105.18. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48.

Hedge Funds Weigh In On American Electric Power

Several institutional investors have recently bought and sold shares of AEP. Quantbot Technologies LP bought a new position in shares of American Electric Power in the first quarter worth about $1,731,000. Nordea Investment Management AB increased its stake in shares of American Electric Power by 381.9% in the first quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock worth $171,127,000 after purchasing an additional 1,581,734 shares during the period. Mizuho Markets Americas LLC increased its stake in shares of American Electric Power by 646.9% in the first quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock worth $22,510,000 after purchasing an additional 226,435 shares during the period. ProShare Advisors LLC increased its stake in shares of American Electric Power by 21.7% in the first quarter. ProShare Advisors LLC now owns 582,692 shares of the company’s stock worth $50,170,000 after purchasing an additional 103,771 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of American Electric Power by 60.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 49,762 shares of the company’s stock worth $4,285,000 after purchasing an additional 18,726 shares during the period. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is 70.12%.

American Electric Power Company Profile

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.