Equities Analysts Offer Predictions for AEP FY2024 Earnings

American Electric Power Company, Inc. (NASDAQ:AEP) – Analysts at KeyCorp lowered their FY2024 earnings per share (EPS) estimates for shares of American Electric Power in a note issued to investors on Tuesday, December 3rd. KeyCorp analyst S. Karp now anticipates that the company will earn $5.60 per share for the year, down from their previous estimate of $5.62. The consensus estimate for American Electric Power’s current full-year earnings is $5.63 per share. KeyCorp also issued estimates for American Electric Power’s Q4 2024 earnings at $1.23 EPS, FY2025 earnings at $5.87 EPS and FY2028 earnings at $7.22 EPS.

AEP has been the subject of several other research reports. BMO Capital Markets upped their price objective on shares of American Electric Power from $104.00 to $108.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. UBS Group upped their price target on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Scotiabank lifted their price objective on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Bank of America upped their target price on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Finally, Jefferies Financial Group began coverage on shares of American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 price target on the stock. 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $98.20.

American Electric Power Price Performance

American Electric Power stock opened at $95.85 on Thursday. The company has a fifty day simple moving average of $98.39 and a 200-day simple moving average of $95.90. 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 firm has a market capitalization of $51.00 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 2.80 and a beta of 0.55. American Electric Power has a 52-week low of $75.22 and a 52-week high of $105.18.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, November 8th. 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 3.88%. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AEP. HHM Wealth Advisors LLC grew its holdings in shares of American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares in the last quarter. E Fund Management Co. Ltd. boosted its position in American Electric Power by 2.0% in the 2nd quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after buying an additional 105 shares during the period. XML Financial LLC boosted its position in American Electric Power by 3.8% in the 3rd quarter. XML Financial LLC now owns 2,921 shares of the company’s stock valued at $300,000 after buying an additional 106 shares during the period. Garrison Asset Management LLC grew its stake in shares of American Electric Power by 0.6% in the third quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock worth $1,950,000 after acquiring an additional 109 shares in the last quarter. Finally, Roanoke Asset Management Corp NY increased its position in shares of American Electric Power by 2.2% during the third quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock worth $516,000 after acquiring an additional 110 shares during the period. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

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.