FY2024 Earnings Forecast for AEP Issued By Scotiabank

American Electric Power Company, Inc. (NASDAQ:AEP) – Scotiabank issued their FY2024 earnings estimates for shares of American Electric Power in a research report issued on Wednesday, January 8th. Scotiabank analyst A. Weisel expects that the company will earn $5.61 per share for the year. Scotiabank has a “Sector Perform” rating and a $102.00 price target on the stock. The consensus estimate for American Electric Power’s current full-year earnings is $5.62 per share. Scotiabank also issued estimates for American Electric Power’s FY2025 earnings at $5.80 EPS.

AEP has been the topic of a number of other research reports. Wells Fargo & Company reduced their price objective on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Morgan Stanley reduced their price target on American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. UBS Group raised their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. Jefferies Financial Group assumed coverage on shares of American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 target price on the stock. Finally, Barclays decreased their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 26th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $97.13.

American Electric Power Stock Up 2.0 %

Shares of NASDAQ:AEP opened at $92.26 on Friday. American Electric Power has a 52-week low of $75.22 and a 52-week high of $105.18. The company has a market capitalization of $49.09 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 2.70 and a beta of 0.56. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. The company has a fifty day moving average of $94.79 and a 200-day moving average of $96.52.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were paid a dividend of $0.93 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.72 annualized dividend and a yield of 4.03%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.

Institutional Investors Weigh In On American Electric Power

A number of hedge funds have recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC increased its stake in shares of American Electric Power by 10,177.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock valued at $203,399,000 after acquiring an additional 1,963,154 shares in the last quarter. Janus Henderson Group PLC grew its holdings in American Electric Power by 109.5% in the third quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock worth $385,079,000 after purchasing an additional 1,962,125 shares during the period. State Street Corp increased its stake in American Electric Power by 4.3% in the third quarter. State Street Corp now owns 26,902,755 shares of the company’s stock valued at $2,760,223,000 after purchasing an additional 1,114,954 shares in the last quarter. FMR LLC increased its stake in American Electric Power by 18.8% in the third quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after purchasing an additional 1,087,163 shares in the last quarter. Finally, Zacks Investment Management acquired a new position in shares of American Electric Power during the third quarter valued at about $80,207,000. 75.24% of the stock is currently owned by institutional investors.

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.