American Electric Power (NASDAQ:AEP) Issues FY24 Earnings Guidance

American Electric Power (NASDAQ:AEP) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $5.58-5.68 for the period, compared to the consensus estimate of $5.63. American Electric Power also updated its FY 2024 guidance to 5.580-5.680 EPS.

American Electric Power Trading Up 0.1 %

Shares of American Electric Power stock traded up $0.07 during trading on Friday, hitting $96.40. The company’s stock had a trading volume of 2,539,771 shares, compared to its average volume of 3,154,131. The stock has a market cap of $51.30 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 2.81 and a beta of 0.55. American Electric Power has a 52 week low of $74.97 and a 52 week high of $105.18. The stock has a 50-day moving average price of $100.59 and a two-hundred day moving average price of $94.79. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be paid a $0.93 dividend. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.86%. American Electric Power’s dividend payout ratio is presently 70.12%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AEP shares. UBS Group boosted their price target on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research report on Thursday. Bank of America upped their target price 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. Wells Fargo & Company lowered their target price on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday. Scotiabank increased their price target on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Finally, Guggenheim lifted their price objective on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $98.27.

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.