American Electric Power (NASDAQ:AEP) Updates FY24 Earnings Guidance

American Electric Power (NASDAQ:AEP) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $5.53 to $5.73 for the period, compared to the consensus earnings per share estimate of $5.60. American Electric Power also updated its FY 2024 guidance to 5.530-5.730 EPS.

American Electric Power Price Performance

Shares of NASDAQ:AEP traded down $0.12 on Thursday, hitting $88.03. The company had a trading volume of 950,167 shares, compared to its average volume of 3,755,703. The company has a current ratio of 0.54, a quick ratio of 0.36 and a debt-to-equity ratio of 1.50. American Electric Power has a 52-week low of $69.38 and a 52-week high of $92.88. The business has a 50 day moving average of $83.85 and a 200 day moving average of $80.72. The company has a market cap of $46.36 billion, a PE ratio of 16.38, a PEG ratio of 3.02 and a beta of 0.50.

American Electric Power (NASDAQ:AEP) last released its earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.25 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 $5 billion for the quarter, compared to the consensus estimate of $5.02 billion. During the same period in the prior year, the business posted $1.11 earnings per share. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities analysts anticipate that American Electric Power will post 5.58 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a dividend of $0.88 per share. The ex-dividend date is Thursday, May 9th. This represents a $3.52 annualized dividend and a yield of 4.00%. American Electric Power’s dividend payout ratio (DPR) is presently 65.31%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AEP shares. Cfra reiterated a buy rating and set a $92.00 target price (up from $90.00) on shares of American Electric Power in a research report on Tuesday, February 27th. Guggenheim lowered American Electric Power from a buy rating to a neutral rating and set a $81.00 price target for the company. in a research note on Monday, January 22nd. Mizuho lowered American Electric Power from a buy rating to a neutral rating and set a $83.00 price target for the company. in a research note on Thursday, January 11th. Wells Fargo & Company upped their price target on American Electric Power from $84.00 to $89.00 and gave the stock an equal weight rating in a research note on Wednesday. Finally, UBS Group lowered American Electric Power from a neutral rating to a sell rating and dropped their price target for the stock from $86.00 to $83.00 in a research note on Monday, March 11th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $87.36.

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.