KeyCorp Expects Reduced Earnings for American Electric Power

American Electric Power Company, Inc. (NASDAQ:AEP) – Equities researchers at KeyCorp dropped their FY2024 EPS estimates for shares of American Electric Power in a note issued to investors on Tuesday, December 3rd. KeyCorp analyst S. Karp now expects that the company will post earnings of $5.60 per share for the year, down from their previous forecast of $5.62. The consensus estimate for American Electric Power’s current full-year earnings is $5.63 per share. KeyCorp also issued estimates for American Electric Power’s Q4 2024 earnings at $1.23 EPS, FY2025 earnings at $5.87 EPS and FY2028 earnings at $7.22 EPS.

Several other research firms have also recently commented on AEP. Jefferies Financial Group started coverage on shares of American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 target price for the company. Evercore ISI dropped their price objective on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. Bank of America increased their price target on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Scotiabank increased their price target on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Finally, Wells Fargo & Company reduced their price objective on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $98.20.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $97.45 on Thursday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. American Electric Power has a 1 year low of $75.22 and a 1 year high of $105.18. The firm’s 50-day simple moving average is $98.39 and its 200-day simple moving average is $95.90. The firm has a market cap of $51.86 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 2.80 and a beta of 0.55.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.82%. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s payout ratio is presently 74.55%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AEP. State Street Corp lifted its holdings in shares of American Electric Power by 4.3% during the third quarter. State Street Corp now owns 26,902,755 shares of the company’s stock worth $2,760,223,000 after purchasing an additional 1,114,954 shares during the period. Geode Capital Management LLC raised its holdings in shares of American Electric Power by 2.9% during the third quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company’s stock valued at $1,280,655,000 after purchasing an additional 352,588 shares during the period. FMR LLC increased its position in shares of American Electric Power by 18.8% during the third quarter. FMR LLC now owns 6,866,952 shares of the company’s stock worth $704,549,000 after acquiring an additional 1,087,163 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of American Electric Power by 8.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock worth $466,191,000 after acquiring an additional 341,846 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in American Electric Power by 109.5% in the 3rd quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock worth $385,079,000 after purchasing an additional 1,962,125 shares in the last quarter. 75.24% of the stock is owned by institutional investors.

American Electric Power Company Profile

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.