KeyCorp Cuts Earnings Estimates for American Electric Power

American Electric Power Company, Inc. (NASDAQ:AEP) – Stock analysts at KeyCorp lowered their Q4 2024 earnings per share (EPS) estimates for shares of American Electric Power in a research note issued to investors on Monday, October 21st. KeyCorp analyst S. Karp now forecasts that the company will post earnings per share of $1.28 for the quarter, down from their previous estimate of $1.33. The consensus estimate for American Electric Power’s current full-year earnings is $5.60 per share. KeyCorp also issued estimates for American Electric Power’s FY2026 earnings at $6.34 EPS, FY2027 earnings at $6.73 EPS and FY2028 earnings at $7.21 EPS.

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

A number of other brokerages also recently weighed in on AEP. JPMorgan Chase & Co. lifted their price target on American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Barclays lifted their price target on American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Scotiabank lifted their price objective on 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. BMO Capital Markets lifted their price objective on American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Finally, Jefferies Financial Group assumed coverage on American Electric Power in a research report on Friday, September 20th. They set 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 assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, American Electric Power presently has a consensus rating of “Hold” and a consensus price target of $98.43.

American Electric Power Stock Performance

Shares of AEP stock opened at $98.19 on Thursday. American Electric Power has a 1-year low of $74.37 and a 1-year high of $105.18. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $51.76 billion, a price-to-earnings ratio of 18.22, a P/E/G ratio of 2.79 and a beta of 0.54. The stock’s fifty day simple moving average is $100.68 and its 200-day simple moving average is $93.82.

American Electric Power Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is currently 69.02%.

Hedge Funds Weigh In On American Electric Power

Several large investors have recently made changes to their positions in AEP. HHM Wealth Advisors LLC increased 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 acquiring an additional 103 shares during the period. E Fund Management Co. Ltd. increased its stake in American Electric Power by 2.0% during the second quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after acquiring an additional 105 shares during the period. Bank of Stockton increased its stake in American Electric Power by 2.2% during the second quarter. Bank of Stockton now owns 5,062 shares of the company’s stock valued at $444,000 after acquiring an additional 111 shares during the period. First United Bank & Trust increased its stake in American Electric Power by 17.1% during the third quarter. First United Bank & Trust now owns 766 shares of the company’s stock valued at $79,000 after acquiring an additional 112 shares during the period. Finally, Richardson Financial Services Inc. increased its stake in American Electric Power by 3.9% during the first quarter. Richardson Financial Services Inc. now owns 3,084 shares of the company’s stock valued at $266,000 after acquiring an additional 115 shares during the period. 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.