American Electric Power (NASDAQ:AEP) Releases FY 2024 Earnings Guidance

American Electric Power (NASDAQ:AEP) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 5.580-5.680 for the period, compared to the consensus estimate of 5.620. The company issued revenue guidance of -. American Electric Power also updated its FY 2025 guidance to 5.750-5.950 EPS.

American Electric Power Stock Up 2.0 %

American Electric Power stock opened at $100.40 on Wednesday. The firm has a market cap of $53.42 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 2.78 and a beta of 0.55. The stock has a fifty day simple moving average of $100.67 and a two-hundred day simple moving average of $94.65. American Electric Power has a 12 month low of $74.97 and a 12 month high of $105.18. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a $0.93 dividend. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.71%. American Electric Power’s dividend payout ratio (DPR) is presently 70.12%.

Analyst Ratings Changes

Several brokerages recently commented on AEP. JPMorgan Chase & Co. lifted their price objective on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Bank of America upped their price objective on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Scotiabank upped their price objective on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Jefferies Financial Group began coverage on American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 price objective for the company. Finally, Wells Fargo & Company upped their price objective on American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $98.43.

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.