Q1 2024 Earnings Forecast for American Electric Power Company, Inc. (NASDAQ:AEP) Issued By Zacks Research

American Electric Power Company, Inc. (NASDAQ:AEP) – Equities researchers at Zacks Research increased their Q1 2024 earnings estimates for shares of American Electric Power in a research note issued on Wednesday, April 24th. Zacks Research analyst R. Department now anticipates that the company will earn $1.35 per share for the quarter, up from their prior forecast of $1.33. The consensus estimate for American Electric Power’s current full-year earnings is $5.55 per share. Zacks Research also issued estimates for American Electric Power’s Q2 2024 earnings at $1.07 EPS, Q1 2025 earnings at $1.36 EPS, Q2 2025 earnings at $1.13 EPS, Q1 2026 earnings at $1.06 EPS and FY2026 earnings at $6.18 EPS.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.03). American Electric Power had a net margin of 11.64% and a return on equity of 11.04%. The business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $5.12 billion. During the same period in the previous year, the business earned $1.05 earnings per share. The business’s quarterly revenue was down 6.1% compared to the same quarter last year.

Several other research firms also recently commented on AEP. UBS Group downgraded shares of American Electric Power from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $86.00 to $83.00 in a research note on Monday, March 11th. Guggenheim cut shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $81.00 target price for the company. in a research note on Monday, January 22nd. Mizuho cut shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $83.00 target price for the company. in a research note on Thursday, January 11th. LADENBURG THALM/SH SH cut shares of American Electric Power from a “neutral” rating to a “sell” rating and cut their target price for the stock from $75.50 to $73.00 in a research note on Friday, March 8th. Finally, Barclays boosted their target price on shares of American Electric Power from $83.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and an average price target of $86.08.

American Electric Power Price Performance

NASDAQ AEP opened at $86.86 on Thursday. The firm’s fifty day simple moving average is $83.45 and its two-hundred day simple moving average is $80.33. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49. American Electric Power has a 12-month low of $69.38 and a 12-month high of $94.21. The firm has a market capitalization of $45.74 billion, a P/E ratio of 20.44, a P/E/G ratio of 3.02 and a beta of 0.51.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be issued a $0.88 dividend. The ex-dividend date is Thursday, May 9th. This represents a $3.52 annualized dividend and a yield of 4.05%. American Electric Power’s payout ratio is 82.82%.

Hedge Funds Weigh In On American Electric Power

Several institutional investors and hedge funds have recently bought and sold shares of AEP. International Assets Investment Management LLC lifted its holdings in American Electric Power by 8.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,470 shares of the company’s stock worth $263,000 after buying an additional 283 shares in the last quarter. DAVENPORT & Co LLC lifted its holdings in American Electric Power by 2.0% during the 3rd quarter. DAVENPORT & Co LLC now owns 62,239 shares of the company’s stock worth $4,682,000 after buying an additional 1,202 shares in the last quarter. Meridian Wealth Management LLC lifted its holdings in American Electric Power by 116.3% during the 3rd quarter. Meridian Wealth Management LLC now owns 12,102 shares of the company’s stock worth $910,000 after buying an additional 6,506 shares in the last quarter. Caprock Group LLC acquired a new stake in American Electric Power during the 3rd quarter worth approximately $251,000. Finally, RDA Financial Network lifted its holdings in American Electric Power by 14.4% during the 3rd quarter. RDA Financial Network now owns 3,696 shares of the company’s stock worth $278,000 after buying an additional 464 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

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.