American Electric Power Company, Inc. (AEP) Releases FY17 Earnings Guidance
American Electric Power Company, Inc. (NYSE:AEP) updated its FY17 earnings guidance on Friday. The company provided EPS guidance of $3.55-3.68 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.61. American Electric Power also updated its FY18 guidance to $3.75-3.95 EPS.
A number of analysts have recently issued reports on the company. Bank of America Corporation assumed coverage on American Electric Power in a research note on Tuesday, October 24th. They issued a buy rating and a $79.00 price target on the stock. Morgan Stanley lifted their price target on American Electric Power from $71.00 to $73.00 and gave the stock an equal weight rating in a research note on Thursday, August 10th. Royal Bank Of Canada reaffirmed a hold rating and issued a $74.00 price target on shares of American Electric Power in a research note on Monday. BidaskClub raised American Electric Power from a sell rating to a hold rating in a research note on Monday, July 31st. Finally, Jefferies Group LLC reaffirmed a hold rating and issued a $73.00 price target on shares of American Electric Power in a research note on Tuesday, October 3rd. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. American Electric Power currently has an average rating of Hold and an average target price of $73.91.
Shares of American Electric Power Company, Inc. (NYSE:AEP) traded up $0.07 during trading on Friday, reaching $74.08. The company had a trading volume of 1,856,247 shares, compared to its average volume of 1,988,888. The stock has a market cap of $36.26 billion, a PE ratio of 21.18 and a beta of 0.29.
American Electric Power (NYSE:AEP) last announced its quarterly earnings data on Thursday, October 26th. The utilities provider reported $1.10 EPS for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.06). American Electric Power had a return on equity of 9.67% and a net margin of 12.21%. The company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.42 billion. During the same quarter in the previous year, the business posted $1.30 EPS. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. analysts forecast that American Electric Power Company, Inc. will post 3.63 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 10th will be given a $0.62 dividend. The ex-dividend date is Thursday, November 9th. This represents a $2.48 dividend on an annualized basis and a yield of 3.35%. This is an increase from American Electric Power’s previous quarterly dividend of $0.59. American Electric Power’s payout ratio is currently 61.78%.
About American Electric Power
American Electric Power Company, Inc (AEP) is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.
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