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 researchers at KeyCorp lifted their Q2 2023 earnings per share estimates for shares of American Electric Power in a research note issued to investors on Tuesday, May 23rd. KeyCorp analyst S. Karp now anticipates that the company will post earnings per share of $1.27 for the quarter, up from their previous 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 quarterly earnings results on Thursday, May 4th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.03). The company had revenue of $4.70 billion during the quarter, compared to analyst estimates of $4.57 billion. American Electric Power had a net margin of 10.10% and a return on equity of 10.57%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.22 earnings per share.

AEP has been the subject of a number of other reports. Royal Bank of Canada decreased their price target on American Electric Power from $109.00 to $103.00 and set an “outperform” rating for the company in a research note on Thursday, March 2nd. LADENBURG THALM/SH SH started coverage on American Electric Power in a research note on Monday, April 3rd. They issued a “sell” rating and a $82.50 price target for the company. Wells Fargo & Company downgraded American Electric Power from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $108.00 to $99.00 in a research note on Wednesday, February 1st. Cfra lifted their price target on American Electric Power from $93.00 to $96.00 and gave the stock a “hold” rating in a research note on Friday, February 24th. Finally, Citigroup raised their target price on shares of American Electric Power from $99.00 to $100.00 and gave the stock a “neutral” rating in a report on Monday, April 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $99.19.

American Electric Power Stock Down 3.1 %

Shares of American Electric Power stock opened at $82.50 on Wednesday. The business has a 50-day moving average of $90.31 and a 200-day moving average of $91.95. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.62 and a quick ratio of 0.50. The company has a market capitalization of $42.39 billion, a PE ratio of 21.32, a P/E/G ratio of 2.85 and a beta of 0.45. American Electric Power has a 1-year low of $80.30 and a 1-year high of $105.60.

American Electric Power Announces Dividend

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

Insiders Place Their Bets

In other American Electric Power news, EVP David Matthew Feinberg sold 1,616 shares of American Electric Power stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $92.75, for a total value of $149,884.00. Following the transaction, the executive vice president now owns 8,925 shares in the company, valued at $827,793.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other American Electric Power news, EVP David Matthew Feinberg sold 1,616 shares of American Electric Power stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 8,925 shares in the company, valued at approximately $827,793.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Greg B. Hall sold 884 shares of American Electric Power stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $90.99, for a total transaction of $80,435.16. Following the transaction, the executive vice president now owns 7,331 shares in the company, valued at $667,047.69. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,988 shares of company stock worth $1,569,844. 0.12% of the stock is owned by insiders.

Institutional Investors Weigh In On American Electric Power

A number of institutional investors have recently modified their holdings of AEP. Fairfield Bush & CO. acquired a new stake in shares of American Electric Power during the 1st quarter valued at $40,000. Westwood Holdings Group Inc. acquired a new stake in shares of American Electric Power in the 1st quarter valued at $211,000. Cibc World Market Inc. lifted its stake in shares of American Electric Power by 13.1% in the 1st quarter. Cibc World Market Inc. now owns 30,809 shares of the company’s stock valued at $3,074,000 after purchasing an additional 3,558 shares during the last quarter. Sei Investments Co. lifted its stake in shares of American Electric Power by 17.7% in the 1st quarter. Sei Investments Co. now owns 205,440 shares of the company’s stock valued at $20,569,000 after purchasing an additional 30,836 shares during the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of American Electric Power by 1.6% in the 1st quarter. Cetera Investment Advisers now owns 36,515 shares of the company’s stock valued at $3,643,000 after purchasing an additional 577 shares during the last quarter. Institutional investors and hedge funds 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.