What is Scotiabank’s Forecast for AEP FY2024 Earnings?

American Electric Power Company, Inc. (NASDAQ:AEP) – Research analysts at Scotiabank issued their FY2024 earnings estimates for shares of American Electric Power in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst A. Weisel expects that the company will earn $5.61 per share for the year. Scotiabank currently has a “Sector Perform” rating and a $102.00 target price on the stock. The consensus estimate for American Electric Power’s current full-year earnings is $5.62 per share. Scotiabank also issued estimates for American Electric Power’s FY2025 earnings at $5.80 EPS.

A number of other research analysts have also commented on AEP. Barclays lowered their price objective on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 26th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $102.00 price objective (down from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Jefferies Financial Group initiated coverage on shares of American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 target price on the stock. Wells Fargo & Company cut their target price on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Finally, UBS Group raised their price target on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $96.60.

American Electric Power Trading Up 1.4 %

American Electric Power stock opened at $93.51 on Friday. American Electric Power has a one year low of $75.22 and a one year high of $105.18. The company’s fifty day moving average price is $94.72 and its two-hundred day moving average price is $96.56. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The company has a market capitalization of $49.76 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 2.70 and a beta of 0.56.

Hedge Funds Weigh In On American Electric Power

A number of hedge funds and other institutional investors have recently made changes to their positions in AEP. HHM Wealth Advisors LLC lifted its holdings in shares of American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares during the period. Legacy Investment Solutions LLC acquired a new stake in shares of American Electric Power during the 3rd quarter worth about $25,000. Safe Harbor Fiduciary LLC bought a new position in American Electric Power during the 3rd quarter valued at about $33,000. Reston Wealth Management LLC bought a new stake in American Electric Power during the third quarter worth about $48,000. Finally, Future Financial Wealth Managment LLC bought a new stake in American Electric Power during the third quarter worth about $50,000. 75.24% of the stock is owned by institutional investors.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.98%. The ex-dividend date was Friday, November 8th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is 74.55%.

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.