Zacks: Brokerages Anticipate American Electric Power Company Inc (NYSE:AEP) Will Announce Quarterly Sales of $4.87 Billion

Analysts expect American Electric Power Company Inc (NYSE:AEP) to announce $4.87 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for American Electric Power’s earnings. The lowest sales estimate is $4.81 billion and the highest is $4.93 billion. American Electric Power posted sales of $4.30 billion in the same quarter last year, which would indicate a positive year over year growth rate of 13.3%. The firm is scheduled to issue its next quarterly earnings results on Thursday, October 24th.

On average, analysts expect that American Electric Power will report full-year sales of $16.11 billion for the current financial year, with estimates ranging from $15.87 billion to $16.61 billion. For the next fiscal year, analysts anticipate that the business will report sales of $16.98 billion, with estimates ranging from $16.43 billion to $17.83 billion. Zacks’ sales averages are an average based on a survey of research firms that cover American Electric Power.

American Electric Power (NYSE:AEP) last issued its earnings results on Thursday, July 25th. The utilities provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.98 by $0.02. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $4.13 billion. American Electric Power had a net margin of 12.53% and a return on equity of 10.69%. The business’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.01 EPS.

Several brokerages have recently commented on AEP. Morgan Stanley boosted their target price on shares of American Electric Power from $91.00 to $97.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. ValuEngine lowered shares of American Electric Power from a “buy” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research raised shares of American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 price target on the stock in a report on Thursday, July 11th. Mizuho lifted their price target on shares of American Electric Power from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Finally, UBS Group lifted their price target on shares of American Electric Power from $100.00 to $105.00 and gave the company a “buy” rating in a report on Friday, September 20th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $92.45.

In other American Electric Power news, VP Brian X. Tierney sold 4,458 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $89.73, for a total transaction of $400,016.34. Following the sale, the vice president now directly owns 39,745 shares of the company’s stock, valued at approximately $3,566,318.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charles E. Zebula sold 1,216 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $90.98, for a total transaction of $110,631.68. Following the sale, the insider now directly owns 7,420 shares in the company, valued at $675,071.60. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of AEP. IMA Wealth Inc. bought a new stake in American Electric Power during the 2nd quarter worth approximately $30,000. JJJ Advisors Inc. bought a new stake in American Electric Power during the 2nd quarter worth approximately $31,000. Glassman Wealth Services grew its holdings in American Electric Power by 138.0% during the 1st quarter. Glassman Wealth Services now owns 388 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 225 shares during the last quarter. Weaver Consulting Group bought a new stake in American Electric Power during the 1st quarter worth approximately $32,000. Finally, Tarbox Family Office Inc. grew its holdings in American Electric Power by 38.9% during the 2nd quarter. Tarbox Family Office Inc. now owns 436 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 122 shares during the last quarter. 73.83% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:AEP traded up $1.11 during midday trading on Wednesday, hitting $93.61. The stock had a trading volume of 2,809,213 shares, compared to its average volume of 2,436,455. The company’s 50-day moving average price is $91.85 and its 200-day moving average price is $88.30. The company has a market capitalization of $46.22 billion, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 3.98 and a beta of 0.09. The company has a quick ratio of 0.36, a current ratio of 0.49 and a debt-to-equity ratio of 1.29. American Electric Power has a fifty-two week low of $70.31 and a fifty-two week high of $94.89.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Thursday, August 8th. American Electric Power’s dividend payout ratio (DPR) is presently 67.85%.

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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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