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

American Electric Power (NASDAQ:AEP) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 5.580-5.680 for the period, compared to the consensus EPS estimate of 5.620. The company issued revenue guidance of -. American Electric Power also updated its FY 2025 guidance to 5.750-5.950 EPS.

American Electric Power Trading Up 0.1 %

Shares of AEP traded up $0.09 during midday trading on Friday, hitting $96.42. The stock had a trading volume of 1,147,467 shares, compared to its average volume of 3,147,715. American Electric Power has a fifty-two week low of $74.97 and a fifty-two week high of $105.18. The business has a 50-day simple moving average of $100.59 and a two-hundred day simple moving average of $94.79. The firm has a market cap of $51.31 billion, a P/E ratio of 19.28, a price-to-earnings-growth ratio of 2.81 and a beta of 0.55. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be given a $0.93 dividend. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.86%. American Electric Power’s dividend payout ratio (DPR) is currently 70.12%.

Analysts Set New Price Targets

AEP has been the topic of several analyst reports. Morgan Stanley boosted their price target on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Jefferies Financial Group initiated coverage on shares of American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 price target on the stock. Barclays boosted their price objective on American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Evercore ISI dropped their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. upped their price target on American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, American Electric Power has a consensus rating of “Hold” and an average target price of $98.27.

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.