Seaport Res Ptn Issues Optimistic Estimate for AEP Earnings

American Electric Power Company, Inc. (NASDAQ:AEP) – Seaport Res Ptn lifted their FY2024 earnings per share (EPS) estimates for shares of American Electric Power in a note issued to investors on Thursday, October 31st. Seaport Res Ptn analyst A. Storozynski now anticipates that the company will post earnings of $5.62 per share for the year, up from their previous forecast of $5.59. The consensus estimate for American Electric Power’s current full-year earnings is $5.60 per share. Seaport Res Ptn also issued estimates for American Electric Power’s FY2026 earnings at $6.30 EPS, FY2027 earnings at $6.52 EPS and FY2028 earnings at $6.89 EPS.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.02. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The firm had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the previous year, the company posted $1.13 EPS. American Electric Power’s revenue was up 4.5% on a year-over-year basis.

Other analysts have also recently issued research reports about the stock. BMO Capital Markets upped their target price on shares of American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Scotiabank upped their target price on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Guggenheim upped their target price on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Wells Fargo & Company upped their target price on shares of American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group started coverage on shares of American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $98.43.

American Electric Power Stock Performance

AEP stock opened at $97.25 on Friday. The company has a 50 day moving average price of $100.68 and a 200 day moving average price of $94.35. The stock has a market capitalization of $51.75 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 2.78 and a beta of 0.54. American Electric Power has a fifty-two week low of $74.97 and a fifty-two week high of $105.18. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date is Friday, November 8th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is 70.12%.

Hedge Funds Weigh In On American Electric Power

A number of hedge funds have recently modified their holdings of the business. Pathway Financial Advisers LLC increased its stake in American Electric Power by 10,177.1% in the third quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock valued at $203,399,000 after purchasing an additional 1,963,154 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in American Electric Power by 542.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock valued at $193,541,000 after purchasing an additional 1,927,234 shares in the last quarter. Nordea Investment Management AB increased its stake in American Electric Power by 381.9% in the first quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock valued at $171,127,000 after purchasing an additional 1,581,734 shares in the last quarter. National Bank of Canada FI increased its stake in American Electric Power by 221.9% in the first quarter. National Bank of Canada FI now owns 1,715,346 shares of the company’s stock valued at $157,140,000 after purchasing an additional 1,182,451 shares in the last quarter. Finally, Zimmer Partners LP increased its stake in American Electric Power by 578.2% in the first quarter. Zimmer Partners LP now owns 975,000 shares of the company’s stock valued at $83,948,000 after purchasing an additional 831,235 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

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.