Zacks Research Has Strong Estimate for AEP FY2024 Earnings

American Electric Power Company, Inc. (NASDAQ:AEP) – Research analysts at Zacks Research upped their FY2024 earnings estimates for American Electric Power in a note issued to investors on Wednesday, November 27th. Zacks Research analyst R. Department now forecasts that the company will post earnings of $5.63 per share for the year, up from their prior estimate 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.

Other equities research analysts have also recently issued reports about the company. Evercore ISI lowered their target price on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. boosted their price objective on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Barclays reduced their target price on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 26th. Wells Fargo & Company dropped their price target on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Finally, Jefferies Financial Group began coverage on shares of American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $98.20.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $97.02 on Monday. The firm has a 50 day simple moving average of $98.55 and a 200 day simple moving average of $95.89. American Electric Power has a fifty-two week low of $75.22 and a fifty-two week 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 firm has a market cap of $51.63 billion, a P/E ratio of 19.44, a P/E/G ratio of 2.83 and a beta of 0.55.

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 paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.83%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. American Electric Power’s dividend payout ratio is presently 74.55%.

Institutional Investors Weigh In On American Electric Power

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. HHM Wealth Advisors LLC grew its position in American Electric Power by 57.2% in 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 in the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of American Electric Power in the 3rd quarter valued at about $25,000. Safe Harbor Fiduciary LLC bought a new stake in American Electric Power in the third quarter valued at approximately $33,000. LRI Investments LLC increased its holdings in shares of American Electric Power by 935.9% during the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after acquiring an additional 365 shares during the last quarter. Finally, Briaud Financial Planning Inc increased its holdings in shares of American Electric Power by 52.1% in the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after purchasing an additional 150 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

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.