American Electric Power (NASDAQ:AEP) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

American Electric Power (NASDAQ:AEP - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.02, Yahoo Finance reports. American Electric Power had a return on equity of 11.04% and a net margin of 11.64%. The company had revenue of $5 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same quarter last year, the firm earned $1.11 EPS. American Electric Power's revenue for the quarter was up 6.4% compared to the same quarter last year. American Electric Power updated its FY 2024 guidance to 5.530-5.730 EPS and its FY24 guidance to $5.53 to $5.73 EPS.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $86.03 on Wednesday. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.53 and a quick ratio of 0.36. The business has a 50-day simple moving average of $83.74 and a 200 day simple moving average of $80.67. The firm has a market capitalization of $45.30 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 3.01 and a beta of 0.51. American Electric Power has a one year low of $69.38 and a one year high of $93.56.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend is Thursday, May 9th. American Electric Power's payout ratio is 82.82%.

Wall Street Analyst Weigh In

AEP has been the topic of several recent research reports. Barclays lifted their price objective on American Electric Power from $83.00 to $84.00 and gave the stock an "equal weight" rating in a report on Monday, April 15th. BMO Capital Markets boosted their price target on American Electric Power from $87.00 to $88.00 and gave the company an "outperform" rating in a research note on Tuesday, February 27th. LADENBURG THALM/SH SH lowered American Electric Power from a "neutral" rating to a "sell" rating and decreased their price target for the company from $75.50 to $73.00 in a research note on Friday, March 8th. Cfra reiterated a "buy" rating and issued a $92.00 price objective (up previously from $90.00) on shares of American Electric Power in a report on Tuesday, February 27th. Finally, StockNews.com downgraded American Electric Power from a "hold" rating to a "sell" rating in a report on Friday, March 15th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $86.08.

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.