Brokers Set Expectations for American Electric Power Company, Inc.’s Q2 2023 Earnings (NASDAQ:AEP)

American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating) – Equities research analysts at KeyCorp increased their Q2 2023 EPS estimates for American Electric Power in a research report issued on Tuesday, May 23rd. KeyCorp analyst S. Karp now expects that the company will earn $1.27 per share for the quarter, up from their prior estimate of $1.25. The consensus estimate for American Electric Power’s current full-year earnings is $5.27 per share. KeyCorp also issued estimates for American Electric Power’s Q4 2023 earnings at $1.09 EPS.

American Electric Power (NASDAQ:AEP – Get Rating) last announced its earnings results on Thursday, May 4th. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.03). American Electric Power had a return on equity of 10.57% and a net margin of 10.10%. The company had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the previous year, the company posted $1.22 earnings per share. American Electric Power’s revenue for the quarter was up 2.2% on a year-over-year basis.

AEP has been the topic of several other reports. Morgan Stanley increased their price objective on shares of American Electric Power from $101.00 to $107.00 and gave the company an “overweight” rating in a report on Thursday, April 20th. Mizuho cut their price objective on shares of American Electric Power from $101.00 to $100.00 in a report on Tuesday, April 18th. Royal Bank of Canada cut their price objective on shares of American Electric Power from $109.00 to $103.00 and set an “outperform” rating on the stock in a report on Thursday, March 2nd. BMO Capital Markets increased their price objective on shares of American Electric Power from $100.00 to $102.00 and gave the company an “outperform” rating in a report on Monday, April 17th. Finally, Citigroup upped their target price on shares of American Electric Power from $99.00 to $100.00 and gave the company a “neutral” rating in a research note on Monday, April 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $99.19.

American Electric Power Trading Down 3.1 %

Shares of NASDAQ AEP opened at $82.50 on Wednesday. The company’s 50 day simple moving average is $90.31 and its 200 day simple moving average is $91.95. American Electric Power has a fifty-two week low of $80.30 and a fifty-two week high of $105.60. The firm has a market capitalization of $42.39 billion, a P/E ratio of 21.32, a P/E/G ratio of 2.85 and a beta of 0.45. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.62 and a quick ratio of 0.50.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Wednesday, May 10th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend is Tuesday, May 9th. American Electric Power’s dividend payout ratio is 85.79%.

Insider Transactions at American Electric Power

In other news, EVP Greg B. Hall sold 884 shares of the stock in a transaction on Monday, February 27th. The shares were sold at an average price of $90.99, for a total transaction of $80,435.16. Following the completion of the sale, the executive vice president now owns 7,331 shares of the company’s stock, valued at $667,047.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Greg B. Hall sold 884 shares of the firm’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $90.99, for a total value of $80,435.16. Following the completion of the transaction, the executive vice president now owns 7,331 shares of the company’s stock, valued at $667,047.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP David Matthew Feinberg sold 1,616 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $92.75, for a total transaction of $149,884.00. Following the completion of the transaction, the executive vice president now directly owns 8,925 shares of the company’s stock, valued at approximately $827,793.75. The disclosure for this sale can be found here. Insiders sold 16,988 shares of company stock valued at $1,569,844 over the last quarter. Corporate insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC lifted its stake in American Electric Power by 99,268.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,804,171 shares of the company’s stock valued at $266,256,000 after acquiring an additional 2,801,349 shares during the last quarter. Morgan Stanley lifted its stake in American Electric Power by 23.7% in the fourth quarter. Morgan Stanley now owns 13,357,327 shares of the company’s stock valued at $1,268,278,000 after acquiring an additional 2,560,192 shares during the last quarter. Providence Capital Advisors LLC lifted its stake in shares of American Electric Power by 9,188.9% during the 1st quarter. Providence Capital Advisors LLC now owns 2,376,834 shares of the company’s stock worth $26,121,000 after buying an additional 2,351,246 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of American Electric Power by 26,257.9% during the 1st quarter. Jane Street Group LLC now owns 1,900,930 shares of the company’s stock worth $172,966,000 after buying an additional 1,893,718 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of American Electric Power by 47.0% during the 1st quarter. Federated Hermes Inc. now owns 4,619,706 shares of the company’s stock worth $420,347,000 after buying an additional 1,476,099 shares during the last quarter. Institutional investors own 74.33% of the company’s stock.

About American Electric Power

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