Zacks Research Has Positive Outlook for AEP FY2024 Earnings

American Electric Power Company, Inc. (NASDAQ:AEP) – Analysts at Zacks Research lifted their FY2024 earnings estimates for shares of American Electric Power in a report released on Wednesday, November 27th. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of $5.63 for the year, up from their prior forecast of $5.59. The consensus estimate for American Electric Power’s current full-year earnings is $5.63 per share. Zacks Research also issued estimates for American Electric Power’s Q4 2024 earnings at $1.26 EPS, Q1 2025 earnings at $1.32 EPS, Q2 2025 earnings at $1.29 EPS, FY2025 earnings at $5.92 EPS, Q1 2026 earnings at $1.42 EPS and Q2 2026 earnings at $1.55 EPS.

Other equities research analysts have also issued reports about the company. UBS Group upped their price target on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. Bank of America increased their target price on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. BMO Capital Markets lifted their price target on shares of American Electric Power from $104.00 to $108.00 and gave the company an “outperform” rating in a research report on Monday. Morgan Stanley dropped their price objective on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $98.20.

American Electric Power Trading Down 1.6 %

AEP stock opened at $98.22 on Monday. American Electric Power has a 52 week low of $75.22 and a 52 week high of $105.18. The company has a market cap of $52.26 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 2.88 and a beta of 0.55. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The business has a fifty day simple moving average of $98.72 and a 200-day simple moving average of $95.82.

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 dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.79%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. American Electric Power’s payout ratio is presently 74.55%.

Hedge Funds Weigh In On American Electric Power

A number of institutional investors have recently made changes to their positions in the business. OLD National Bancorp IN raised its holdings in American Electric Power by 14.4% in the second quarter. OLD National Bancorp IN now owns 120,489 shares of the company’s stock valued at $10,572,000 after acquiring an additional 15,138 shares in the last quarter. MainStreet Investment Advisors LLC raised its stake in shares of American Electric Power by 13.2% in the 2nd quarter. MainStreet Investment Advisors LLC now owns 42,517 shares of the company’s stock valued at $3,730,000 after purchasing an additional 4,971 shares in the last quarter. New England Asset Management Inc. bought a new position in shares of American Electric Power during the third quarter worth about $3,404,000. Assenagon Asset Management S.A. grew its stake in American Electric Power by 1,140.5% in the second quarter. Assenagon Asset Management S.A. now owns 456,686 shares of the company’s stock worth $40,070,000 after purchasing an additional 419,870 shares in the last quarter. Finally, ING Groep NV increased its holdings in American Electric Power by 244.3% in the third quarter. ING Groep NV now owns 294,515 shares of the company’s stock valued at $30,217,000 after buying an additional 208,974 shares during the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.