American Electric Power (NASDAQ:AEP) Updates FY21 Earnings Guidance

American Electric Power (NASDAQ:AEP) updated its FY21 earnings guidance on Thursday. The company provided earnings per share guidance of $4.55 to $4.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.67.

Several research analysts have issued reports on the stock. Mizuho raised their price target on shares of American Electric Power from $83.00 to $91.00 and gave the stock a buy rating in a report on Wednesday. Edward Jones began coverage on shares of American Electric Power in a research report on Tuesday, March 16th. They set a buy rating for the company. The Goldman Sachs Group downgraded shares of American Electric Power from a neutral rating to a sell rating and reduced their price objective for the stock from $90.00 to $83.00 in a research report on Thursday, January 14th. Guggenheim raised shares of American Electric Power from a neutral rating to a buy rating and set a $93.00 price objective for the company in a research report on Wednesday, January 20th. Finally, Wells Fargo & Company downgraded shares of American Electric Power from an overweight rating to an equal weight rating and reduced their price objective for the stock from $101.00 to $88.00 in a research report on Wednesday, January 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $93.18.

Shares of AEP traded down $0.51 during midday trading on Thursday, hitting $88.84. 25,327 shares of the company traded hands, compared to its average volume of 3,107,540. The stock has a 50-day moving average of $83.99 and a 200-day moving average of $82.38. American Electric Power has a one year low of $74.80 and a one year high of $94.21. The firm has a market cap of $44.12 billion, a P/E ratio of 23.09, a PEG ratio of 3.00 and a beta of 0.22. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.48 and a quick ratio of 0.34.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Thursday, April 22nd. The company reported $1.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($0.08). American Electric Power had a net margin of 12.82% and a return on equity of 10.19%. The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the prior year, the company earned $1.02 earnings per share. The company’s quarterly revenue was up 16.2% on a year-over-year basis. Sell-side analysts forecast that American Electric Power will post 4.33 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 10th. Stockholders of record on Monday, May 10th will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, May 7th. American Electric Power’s payout ratio is 69.81%.

In other news, CEO Nicholas K. Akins sold 66,483 shares of the stock in a transaction on Friday, February 26th. The stock was sold at an average price of $76.24, for a total value of $5,068,663.92. Following the sale, the chief executive officer now directly owns 187,288 shares of the company’s stock, valued at $14,278,837.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director J Barnie Beasley sold 2,048 shares of the stock in a transaction on Monday, March 1st. The stock was sold at an average price of $76.71, for a total value of $157,102.08. The disclosure for this sale can be found here. Insiders have sold 118,935 shares of company stock valued at $9,204,606 in the last three months. 0.16% of the stock is owned by insiders.

American Electric Power Company Profile

American Electric Power Co, Inc engages in the business of generation, transmission and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission & Distribution Utilities, AEP Transmission Holdco and Generation & Marketing. The Vertically Integrated Utilities segment engages in the generation, transmission and distribution of electricity for sale to retail and wholesale customers through assets owned and operated by its subsidiaries.

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Earnings History and Estimates for American Electric Power (NASDAQ:AEP)

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