American Electric Power Company Inc (NYSE:AEP) – Research analysts at KeyCorp reduced their Q3 2020 EPS estimates for American Electric Power in a research note issued to investors on Monday, July 20th. KeyCorp analyst S. Karp now forecasts that the utilities provider will earn $1.47 per share for the quarter, down from their previous estimate of $1.50. KeyCorp currently has a “Overweight” rating and a $96.00 target price on the stock. KeyCorp also issued estimates for American Electric Power’s FY2022 earnings at $4.98 EPS and FY2024 earnings at $5.51 EPS.
American Electric Power (NYSE:AEP) last issued its earnings results on Wednesday, May 6th. The utilities provider reported $1.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by ($0.07). The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.26 billion. American Electric Power had a return on equity of 10.15% and a net margin of 12.08%. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period last year, the firm posted $1.19 earnings per share.
AEP opened at $88.05 on Thursday. The firm has a market cap of $43.64 billion, a P/E ratio of 23.61, a P/E/G ratio of 3.67 and a beta of 0.36. American Electric Power has a 12 month low of $65.14 and a 12 month high of $104.97. The company has a current ratio of 0.45, a quick ratio of 0.35 and a debt-to-equity ratio of 1.33. The stock has a 50-day moving average of $83.10 and a 200 day moving average of $87.68.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Friday, August 7th. American Electric Power’s dividend payout ratio is presently 66.04%.
In other news, CEO Nicholas K. Akins sold 16,519 shares of American Electric Power stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $81.90, for a total transaction of $1,352,906.10. Following the completion of the sale, the chief executive officer now owns 134,743 shares of the company’s stock, valued at $11,035,451.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark C. Mccullough sold 2,244 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $81.19, for a total transaction of $182,190.36. Following the completion of the transaction, the executive vice president now directly owns 10,530 shares of the company’s stock, valued at approximately $854,930.70. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Woodard & Co. Asset Management Group Inc. ADV bought a new position in American Electric Power in the second quarter worth approximately $223,000. James Investment Research Inc. raised its stake in American Electric Power by 21.2% in the second quarter. James Investment Research Inc. now owns 119,453 shares of the utilities provider’s stock worth $9,514,000 after buying an additional 20,899 shares in the last quarter. Chronos Wealth Management LLC raised its stake in American Electric Power by 23.6% in the second quarter. Chronos Wealth Management LLC now owns 4,790 shares of the utilities provider’s stock worth $381,000 after buying an additional 915 shares in the last quarter. Gulf International Bank UK Ltd raised its stake in American Electric Power by 2.8% in the second quarter. Gulf International Bank UK Ltd now owns 121,151 shares of the utilities provider’s stock worth $9,648,000 after buying an additional 3,286 shares in the last quarter. Finally, NEXT Financial Group Inc raised its stake in American Electric Power by 16.2% in the second quarter. NEXT Financial Group Inc now owns 12,849 shares of the utilities provider’s stock worth $1,023,000 after buying an additional 1,790 shares in the last quarter. 74.57% of the stock is owned by institutional investors.
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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.
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