American Electric Power (NASDAQ:AEP) Releases FY 2024 Earnings Guidance

American Electric Power (NASDAQ:AEP) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 5.530-5.730 for the period, compared to the consensus estimate of 5.610. The company issued revenue guidance of -. American Electric Power also updated its FY24 guidance to $5.53-5.73 EPS.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AEP. Wells Fargo & Company raised their target price on American Electric Power from $84.00 to $89.00 and gave the company an equal weight rating in a research note on Wednesday, May 1st. Royal Bank of Canada raised their target price on American Electric Power from $90.00 to $100.00 and gave the company an outperform rating in a research note on Friday, May 3rd. Barclays raised their target price on American Electric Power from $84.00 to $88.00 and gave the company an equal weight rating in a research note on Thursday, May 2nd. Guggenheim raised their target price 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, LADENBURG THALM/SH SH upgraded American Electric Power from a sell rating to a neutral rating and increased their price target for the company from $73.00 to $86.00 in a research report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, American Electric Power currently has a consensus rating of Hold and a consensus price target of $89.15.

American Electric Power Stock Down 0.5 %

NASDAQ AEP traded down $0.50 during trading on Tuesday, reaching $96.57. 1,360,039 shares of the company’s stock were exchanged, compared to its average volume of 3,238,389. American Electric Power has a fifty-two week low of $69.38 and a fifty-two week high of $97.67. The firm has a market capitalization of $50.90 billion, a PE ratio of 18.01, a P/E/G ratio of 2.78 and a beta of 0.53. The company has a current ratio of 0.54, a quick ratio of 0.37 and a debt-to-equity ratio of 1.50. The company’s fifty day simple moving average is $89.74 and its 200-day simple moving average is $85.55.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. American Electric Power had a return on equity of 11.23% and a net margin of 14.60%. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same period last year, the company posted $1.13 EPS. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. Sell-side analysts predict that American Electric Power will post 5.59 EPS for the current year.

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend is Friday, August 9th. American Electric Power’s dividend payout ratio (DPR) is presently 65.31%.

Insider Transactions at American Electric Power

In other news, EVP Greg B. Hall sold 5,880 shares of the firm’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 completion of the sale, the executive vice president now directly owns 6,385 shares of the company’s stock, valued at approximately $563,476.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Antonio P. Smyth sold 4,898 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total value of $440,820.00. Following the transaction, the executive vice president now directly owns 6,446 shares of the company’s stock, valued at approximately $580,140. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Greg B. Hall sold 5,880 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $88.25, for a total value of $518,910.00. Following the completion of the transaction, the executive vice president now directly owns 6,385 shares in the company, valued at $563,476.25. The disclosure for this sale can be found here. Company insiders own 0.12% 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.