Zacks Research Has Optimistic Outlook of AEP FY2024 Earnings

American Electric Power Company, Inc. (NASDAQ:AEP) – Equities researchers at Zacks Research increased their FY2024 EPS estimates for American Electric Power in a note issued to investors on Wednesday, November 27th. Zacks Research analyst R. Department now expects that the company will post earnings of $5.63 per share 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.

Several other research firms have also commented on AEP. Barclays reduced their price target on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 26th. UBS Group lifted their price target on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. Jefferies Financial Group began coverage on American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 price target for the company. JPMorgan Chase & Co. raised their price objective on shares of American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company dropped their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, American Electric Power presently has an average rating of “Hold” and an average target price of $97.93.

American Electric Power Price Performance

American Electric Power stock opened at $99.86 on Monday. The firm has a fifty day moving average of $98.72 and a 200-day moving average of $95.82. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. 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 $53.14 billion, a P/E ratio of 20.01, a PEG ratio of 2.88 and a beta of 0.55.

Hedge Funds Weigh In On American Electric Power

Several large investors have recently bought and sold shares of AEP. HHM Wealth Advisors LLC lifted its stake in American Electric Power by 57.2% during 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 during the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of American Electric Power during the 3rd quarter worth $25,000. Safe Harbor Fiduciary LLC acquired a new position in shares of American Electric Power in the 3rd quarter worth $33,000. LRI Investments LLC raised its position in shares of American Electric Power by 935.9% during the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after purchasing an additional 365 shares during the period. Finally, Briaud Financial Planning Inc raised its position in shares of American Electric Power by 52.1% during the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a $0.93 dividend. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) is currently 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.