American Electric Power (NASDAQ:AEP) Issues FY24 Earnings Guidance

American Electric Power (NASDAQ:AEP) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $5.53 to $5.73 for the period, compared to the consensus EPS estimate of $5.60. American Electric Power also updated its FY 2024 guidance to 5.530-5.730 EPS.

Analysts Set New Price Targets

Several research firms have commented on AEP. StockNews.com raised shares of American Electric Power from a sell rating to a hold rating in a research note on Wednesday. UBS Group lowered shares of American Electric Power from a neutral rating to a sell rating and lowered their target price for the company from $86.00 to $83.00 in a research note on Monday, March 11th. Cfra reissued a buy rating and set a $92.00 target price (up from $90.00) on shares of American Electric Power in a research note on Tuesday, February 27th. Wells Fargo & Company boosted their target price on shares of American Electric Power from $84.00 to $89.00 and gave the company an equal weight rating in a research note on Wednesday. Finally, Barclays boosted their target price on shares of American Electric Power from $84.00 to $88.00 and gave the company an equal weight rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, American Electric Power has a consensus rating of Hold and a consensus target price of $87.36.

American Electric Power Stock Down 0.1 %

Shares of AEP stock traded down $0.12 on Thursday, hitting $88.03. The stock had a trading volume of 950,167 shares, compared to its average volume of 3,755,703. The company has a quick ratio of 0.36, a current ratio of 0.54 and a debt-to-equity ratio of 1.50. The business has a 50 day moving average price of $83.85 and a 200 day moving average price of $80.72. The company has a market cap of $46.36 billion, a PE ratio of 16.38, a P/E/G ratio of 3.02 and a beta of 0.50. American Electric Power has a one year low of $69.38 and a one year high of $92.88.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Tuesday, April 30th. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. The business had revenue of $5 billion during the quarter, compared to the consensus estimate of $5.02 billion. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.11 earnings per share. Research analysts anticipate that American Electric Power will post 5.58 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be issued a $0.88 dividend. The ex-dividend date is Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a yield of 4.00%. American Electric Power’s dividend payout ratio is presently 65.31%.

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.