KeyCorp Expects Reduced Earnings for American Electric Power

American Electric Power Company, Inc. (NASDAQ:AEP) – Investment analysts at KeyCorp cut their FY2024 EPS estimates for shares of American Electric Power in a research report issued 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 prior 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.

Other analysts have also recently issued research reports about the stock. 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 objective on the stock. JPMorgan Chase & Co. upped 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. Barclays cut their price objective on shares of 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. BMO Capital Markets raised their price target on shares of American Electric Power from $104.00 to $108.00 and gave the company an “outperform” rating in a report on Monday. Finally, Scotiabank increased their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $98.20.

American Electric Power Stock Performance

NASDAQ AEP opened at $97.45 on Thursday. American Electric Power has a 1 year low of $75.22 and a 1 year high of $105.18. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The stock has a market capitalization of $51.86 billion, a PE ratio of 19.53, a P/E/G ratio of 2.80 and a beta of 0.55. The company’s 50 day simple moving average is $98.39 and its two-hundred day simple moving average is $95.90.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a $0.93 dividend. The ex-dividend date is Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a yield of 3.82%. American Electric Power’s payout ratio is currently 74.55%.

Institutional Investors Weigh In On American Electric Power

A number of large investors have recently modified their holdings of AEP. HHM Wealth Advisors LLC boosted its position in American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of American Electric Power during the 3rd quarter worth $25,000. Safe Harbor Fiduciary LLC purchased a new position in American Electric Power during the 3rd quarter valued at about $33,000. LRI Investments LLC boosted its holdings in American Electric Power by 935.9% during the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after acquiring an additional 365 shares during the period. Finally, Briaud Financial Planning Inc raised its position in American Electric Power by 52.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors 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.