American Electric Power (NASDAQ:AEP – Get Free Report) 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
Get Our Latest Report on American Electric Power
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.
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