American Electric Power (NASDAQ:AEP) Issues Earnings Results, Beats Expectations By $0.02 EPS

American Electric Power (NASDAQ:AEP) posted its quarterly earnings data on Tuesday. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02, RTT News reports. American Electric Power had a net margin of 13.52% and a return on equity of 11.39%. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same period in the prior year, the company posted $1.13 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. 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 Stock Performance

AEP traded up $1.32 on Thursday, reaching $99.44. The stock had a trading volume of 795,016 shares, compared to its average volume of 3,249,710. American Electric Power has a 12-month low of $69.38 and a 12-month high of $99.47. 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 business’s 50-day moving average price is $89.99 and its two-hundred day moving average price is $85.75. The company has a market cap of $52.42 billion, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a yield of 3.54%. American Electric Power’s payout ratio is 65.31%.

Analysts Set New Price Targets

A number of brokerages have commented on AEP. Wells Fargo & Company upped their target price on shares of American Electric Power from $84.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. Barclays upped their target price on shares of American Electric Power from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. LADENBURG THALM/SH SH upgraded shares of American Electric Power from a “sell” rating to a “neutral” rating and upped their target price for the stock from $73.00 to $86.00 in a research note on Thursday, June 6th. Scotiabank upped their target price on shares of American Electric Power from $90.00 to $99.00 and gave the stock a “sector outperform” rating in a research note on Wednesday. Finally, Royal Bank of Canada upped their target price on shares of American Electric Power from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and a consensus price target of $89.85.

Insider Buying and Selling at American Electric Power

In other American Electric Power news, insider Therace Risch 5,274 shares of American Electric Power stock in a transaction on Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Antonio P. Smyth sold 4,898 shares of American Electric Power stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total value of $440,820.00. Following the sale, the executive vice president now owns 6,446 shares in the company, valued at $580,140. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Therace Risch 5,274 shares of the company’s stock in a transaction dated Tuesday, July 30th. The disclosure for this trade can be found here. 0.12% of the stock is owned by corporate insiders.

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.