American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) - Scotiabank issued their FY2024 earnings estimates for shares of American Electric Power in a report released on Wednesday, January 8th. Scotiabank analyst A. Weisel expects that the company will earn $5.61 per share for the year. Scotiabank currently has a "Sector Perform" rating and a $102.00 target price on the stock. The consensus estimate for American Electric Power's current full-year earnings is $5.62 per share. Scotiabank also issued estimates for American Electric Power's FY2025 earnings at $5.80 EPS.
Other research analysts also recently issued reports about the stock. Evercore ISI decreased their target price on shares of American Electric Power from $97.00 to $96.00 and set an "in-line" rating on the stock in a research note on Thursday, November 7th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Morgan Stanley dropped their target price on shares of American Electric Power from $109.00 to $104.00 and set an "overweight" rating for the company in a report on Friday, November 22nd. BMO Capital Markets reduced their price target on American Electric Power from $108.00 to $100.00 and set an "outperform" rating on the stock in a report on Friday. Finally, Wells Fargo & Company dropped their price objective on American Electric Power from $104.00 to $102.00 and set an "equal weight" rating for the company in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $96.60.
View Our Latest Research Report on American Electric Power
American Electric Power Trading Up 1.4 %
AEP stock traded up $1.25 during midday trading on Friday, hitting $93.51. The company had a trading volume of 7,725,244 shares, compared to its average volume of 3,321,141. The stock has a market cap of $49.76 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 2.70 and a beta of 0.56. American Electric Power has a 52 week low of $75.22 and a 52 week high of $105.18. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The stock's 50 day moving average price is $94.79 and its 200 day moving average price is $96.52.
Institutional Investors Weigh In On American Electric Power
A number of institutional investors have recently modified their holdings of AEP. Los Angeles Capital Management LLC lifted its position in American Electric Power by 70.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 6,983 shares of the company's stock valued at $613,000 after acquiring an additional 2,882 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of American Electric Power in the second quarter worth approximately $1,653,000. Caprock Group LLC raised its holdings in shares of American Electric Power by 111.5% during the second quarter. Caprock Group LLC now owns 6,678 shares of the company's stock valued at $586,000 after purchasing an additional 3,521 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in American Electric Power during the second quarter valued at approximately $110,000. Finally, Choreo LLC boosted its holdings in American Electric Power by 183.6% in the second quarter. Choreo LLC now owns 21,534 shares of the company's stock worth $1,880,000 after purchasing an additional 13,940 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.
American Electric Power Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.98%. This is a positive change from American Electric Power's previous quarterly dividend of $0.88. The ex-dividend date was Friday, November 8th. American Electric Power's dividend payout ratio (DPR) is presently 74.55%.
About American Electric Power
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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.
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