American Electric Power (NASDAQ:AEP – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 5.530-5.730 for the period, compared to the consensus earnings per share estimate of 5.590. The company issued revenue guidance of -. American Electric Power also updated its FY24 guidance to $5.53 to $5.73 EPS.
Analysts Set New Price Targets
A number of research analysts have recently commented on AEP shares. Wells Fargo & Company lifted their price objective on shares of American Electric Power from $84.00 to $89.00 and gave the company an equal weight rating in a research report on Wednesday. LADENBURG THALM/SH SH downgraded shares of American Electric Power from a neutral rating to a sell rating and decreased their price objective for the company from $75.50 to $73.00 in a research report on Friday, March 8th. UBS Group downgraded shares of American Electric Power from a neutral rating to a sell rating and reduced their target price for the stock from $86.00 to $83.00 in a report on Monday, March 11th. Cfra reiterated a buy rating and issued a $92.00 price objective (up previously from $90.00) on shares of American Electric Power in a research note on Tuesday, February 27th. Finally, Barclays lifted their price objective 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. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, American Electric Power has a consensus rating of Hold and a consensus price target of $87.36.
Get Our Latest Report on American Electric Power
American Electric Power Stock Down 0.7 %
American Electric Power (NASDAQ:AEP – Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.02. The company had revenue of $5 billion during the quarter, compared to analyst estimates of $5.02 billion. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.11 earnings per share. As a group, analysts forecast that American Electric Power will post 5.58 earnings per share for the current year.
American Electric Power Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Thursday, May 9th. American Electric Power’s dividend payout ratio is currently 65.31%.
About American Electric Power
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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