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

American Electric Power Company, Inc. (NASDAQ:AEP) – Equities research analysts at Zacks Research increased their Q1 2024 earnings estimates for American Electric Power in a report released on Wednesday, April 24th. Zacks Research analyst R. Department now expects that the company will post earnings per share of $1.35 for the quarter, up from their previous forecast of $1.33. The consensus estimate for American Electric Power’s current full-year earnings is $5.54 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.

Several other analysts have also commented on the stock. StockNews.com lowered shares of American Electric Power from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. UBS Group downgraded shares of American Electric Power from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $86.00 to $83.00 in a research note on Monday, March 11th. Mizuho cut shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $83.00 price target for the company. in a research note on Thursday, January 11th. Barclays boosted their target price on American Electric Power from $83.00 to $84.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Finally, Scotiabank reduced their price target on shares of American Electric Power from $92.00 to $86.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 22nd. Three analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, American Electric Power has a consensus rating of “Hold” and a consensus price target of $86.08.

American Electric Power Trading Down 1.8 %

NASDAQ AEP opened at $85.26 on Thursday. The company has a market capitalization of $44.90 billion, a PE ratio of 20.06, a P/E/G ratio of 3.05 and a beta of 0.51. American Electric Power has a 1 year low of $69.38 and a 1 year high of $93.56. The company has a fifty day moving average of $83.53 and a 200 day moving average of $80.42. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.53 and a quick ratio of 0.36.

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

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.13%. American Electric Power’s payout ratio is 82.82%.

Hedge Funds Weigh In On American Electric Power

Several institutional investors have recently added to or reduced their stakes in AEP. Apella Capital LLC acquired a new stake in American Electric Power in the fourth quarter valued at about $348,000. Rockline Wealth Management LLC purchased a new stake in American Electric Power during the fourth quarter worth about $1,982,000. Nisa Investment Advisors LLC boosted its holdings in American Electric Power by 28.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 50,434 shares of the company’s stock worth $4,096,000 after buying an additional 11,065 shares in the last quarter. Nordea Investment Management AB grew its position in American Electric Power by 1,592.1% during the fourth quarter. Nordea Investment Management AB now owns 414,150 shares of the company’s stock worth $33,612,000 after buying an additional 389,675 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in American Electric Power by 26.0% in the third quarter. JPMorgan Chase & Co. now owns 2,531,672 shares of the company’s stock valued at $190,432,000 after buying an additional 522,608 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

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.