American Electric Power (NASDAQ:AEP) Issues Quarterly Earnings Results

American Electric Power (NASDAQ:AEP) posted its quarterly earnings data on Tuesday. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02, RTT News reports. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.39%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.13 EPS. American Electric Power updated its FY 2024 guidance to 5.530-5.730 EPS and its FY24 guidance to $5.53-5.73 EPS.

American Electric Power Trading Up 3.2 %

American Electric Power stock traded up $3.12 during mid-day trading on Thursday, hitting $101.24. 4,539,356 shares of the stock were exchanged, compared to its average volume of 3,275,182. The firm’s fifty day simple moving average is $89.99 and its two-hundred day simple moving average is $85.75. The company has a quick ratio of 0.37, a current ratio of 0.54 and a debt-to-equity ratio of 1.50. American Electric Power has a 12 month low of $69.38 and a 12 month high of $101.37. The stock has a market capitalization of $53.37 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 2.83 and a beta of 0.53.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.48%. American Electric Power’s dividend payout ratio (DPR) is 65.31%.

Insider Buying and Selling

In related news, EVP Greg B. Hall sold 5,880 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $88.25, for a total transaction of $518,910.00. Following the sale, the executive vice president now owns 6,385 shares in the company, valued at approximately $563,476.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Therace Risch 5,274 shares of the company’s stock in a transaction dated Tuesday, July 30th. The was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Greg B. Hall sold 5,880 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $88.25, for a total value of $518,910.00. Following the completion of the sale, the executive vice president now directly owns 6,385 shares of the company’s stock, valued at $563,476.25. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wells Fargo & Company lifted their price objective on shares of American Electric Power from $84.00 to $89.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. LADENBURG THALM/SH SH upgraded American Electric Power from a “sell” rating to a “neutral” rating and upped their price objective for the company from $73.00 to $86.00 in a research note on Thursday, June 6th. Barclays raised their price objective on American Electric Power from $91.00 to $96.00 and gave the company an “equal weight” rating in a research report on Thursday. Guggenheim increased their price target on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, BMO Capital Markets upped their price objective on shares of American Electric Power from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Monday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, American Electric Power has a consensus rating of “Hold” and an average target price of $90.46.

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.