American Electric Power (NASDAQ:AEP) announced its quarterly earnings results on Thursday. The company reported $1.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $1.14 by $0.04, RTT News reports. American Electric Power had a net margin of 14.72% and a return on equity of 10.93%. The firm had revenue of $3.80 billion during the quarter, compared to analysts' expectations of $4.05 billion. During the same period in the prior year, the company posted $1.08 EPS. The company's revenue was up 8.6% on a year-over-year basis. American Electric Power updated its FY 2021 guidance to $4.550-$4.750 EPS and its FY21 guidance to $4.55-4.75 EPS.
Shares of NASDAQ AEP opened at $86.61 on Thursday. The company has a market capitalization of $43.28 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 3.11 and a beta of 0.27. American Electric Power has a 12-month low of $74.80 and a 12-month high of $94.21. The business's fifty day moving average is $85.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.29 and a current ratio of 0.42.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 10th. Investors of record on Tuesday, August 10th will be paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 3.42%. The ex-dividend date is Monday, August 9th. American Electric Power's dividend payout ratio is presently 66.67%.
Several brokerages have issued reports on AEP. Barclays upped their price target on shares of American Electric Power from $95.00 to $105.00 and gave the company an "overweight" rating in a research report on Tuesday, May 25th. Morgan Stanley upped their price objective on shares of American Electric Power from $103.00 to $105.00 and gave the company an "overweight" rating in a research note on Monday, June 21st. Finally, Mizuho upped their price objective on shares of American Electric Power from $83.00 to $91.00 and gave the company a "buy" rating in a research note on Thursday, April 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company's stock. American Electric Power presently has a consensus rating of "Buy" and an average price target of $95.00.
In related news, CEO Nicholas K. Akins sold 2,100 shares of the stock in a transaction on Thursday, July 1st. The shares were sold at an average price of $84.73, for a total transaction of $177,933.00. Following the transaction, the chief executive officer now directly owns 102,872 shares of the company's stock, valued at $8,716,344.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Lisa M. Barton sold 7,827 shares of the firm's stock in a transaction on Tuesday, May 4th. The shares were sold at an average price of $88.39, for a total transaction of $691,828.53. Following the completion of the transaction, the chief operating officer now directly owns 21,662 shares in the company, valued at $1,914,704.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,502 shares of company stock worth $2,334,826. 0.14% of the stock is owned by insiders.
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.
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