FY2024 Earnings Forecast for AEP Issued By Scotiabank

American Electric Power Company, Inc. (NASDAQ:AEP) – Research analysts at Scotiabank issued their FY2024 earnings per share (EPS) estimates for American Electric Power in a research report issued on Wednesday, January 8th. Scotiabank analyst A. Weisel forecasts that the company will post earnings per share of $5.61 for the year. Scotiabank currently 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 subject of a number of other research reports. UBS Group boosted their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. BMO Capital Markets decreased their target price on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday. Evercore ISI reduced their price objective on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Morgan Stanley dropped their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, Wells Fargo & Company dropped their price objective on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $97.57.

American Electric Power Price Performance

AEP stock opened at $93.51 on Friday. American Electric Power has a 52-week low of $75.22 and a 52-week high of $105.18. The firm has a market capitalization of $49.76 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 2.70 and a beta of 0.56. The firm has a 50 day moving average price of $94.72 and a 200-day moving average price of $96.63. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57.

Institutional Trading of American Electric Power

Several institutional investors have recently added to or reduced their stakes in AEP. State Street Corp grew its position in American Electric Power by 4.3% in the 3rd quarter. State Street Corp now owns 26,902,755 shares of the company’s stock valued at $2,760,223,000 after buying an additional 1,114,954 shares in the last quarter. Geode Capital Management LLC lifted its holdings in American Electric Power by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company’s stock valued at $1,280,655,000 after acquiring an additional 352,588 shares during the last quarter. FMR LLC lifted its holdings in American Electric Power by 18.8% in the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after acquiring an additional 1,087,163 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in American Electric Power by 8.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock valued at $466,191,000 after buying an additional 341,846 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of 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 in the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were given a dividend of $0.93 per share. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend was Friday, November 8th. American Electric Power’s payout ratio is presently 74.55%.

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.