American Electric Power (NASDAQ:AEP) Releases Earnings Results, Misses Expectations By $0.02 EPS


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American Electric Power (NASDAQ:AEP) posted its quarterly earnings data on Wednesday. The company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.02), MarketWatch Earnings reports. The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.54 billion. American Electric Power had a return on equity of 10.19% and a net margin of 12.82%. The business’s revenue was up 16.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.02 earnings per share.

NASDAQ:AEP opened at $87.95 on Friday. The stock has a market capitalization of $43.68 billion, a P/E ratio of 22.73, a PEG ratio of 3.00 and a beta of 0.22. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.34 and a current ratio of 0.48. American Electric Power has a fifty-two week low of $74.80 and a fifty-two week high of $94.21. The company has a 50 day moving average price of $84.25 and a 200 day moving average price of $82.42.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 10th. Stockholders of record on Monday, May 10th will be given a dividend of $0.74 per share. The ex-dividend date is Friday, May 7th. This represents a $2.96 annualized dividend and a dividend yield of 3.37%. American Electric Power’s payout ratio is 69.81%.

Several analysts have issued reports on the stock. Wells Fargo & Company lowered shares of American Electric Power from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $101.00 to $88.00 in a research report on Wednesday, January 6th. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating and set a $93.00 target price for the company in a report on Wednesday, January 20th. Edward Jones initiated coverage on American Electric Power in a research report on Tuesday, March 16th. They set a “buy” rating on the stock. Mizuho boosted their price objective on American Electric Power from $83.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley raised their target price on shares of American Electric Power from $99.00 to $104.00 and gave the stock an “overweight” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $93.18.

In other American Electric Power news, EVP Charles R. Patton sold 14,791 shares of American Electric Power stock in a transaction dated Tuesday, March 23rd. The stock was sold at an average price of $85.00, for a total transaction of $1,257,235.00. Following the completion of the sale, the executive vice president now directly owns 29,367 shares of the company’s stock, valued at approximately $2,496,195. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nicholas K. Akins sold 2,100 shares of the stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $84.90, for a total value of $178,290.00. Following the completion of the transaction, the chief executive officer now owns 136,264 shares in the company, valued at approximately $11,568,813.60. The disclosure for this sale can be found here. Insiders have sold 118,935 shares of company stock worth $9,204,606 over the last 90 days. 0.16% of the stock is owned by insiders.

About American Electric Power

American Electric Power Co, Inc engages in the business of generation, transmission and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission & Distribution Utilities, AEP Transmission Holdco and Generation & Marketing. The Vertically Integrated Utilities segment engages in the generation, transmission and distribution of electricity for sale to retail and wholesale customers through assets owned and operated by its subsidiaries.

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Earnings History for American Electric Power (NASDAQ:AEP)

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