American Electric Power Reports Q1 Revenue Miss, Plans $27B Investment To 'Enhance Resiliency'
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 30 2024
0mins
Source: earning
- Financial Performance: American Electric Power Company reported first-quarter revenue of $5 billion, slightly below expectations.
- Operational Growth: Commercial load increased by 10.5% year-over-year, driven by a focus on economic development.
- Energy Distribution: Total energy distribution rose in both the Vertically Integrated Utilities and Transmission & Distribution Utilities segments.
- Earnings and Outlook: Adjusted operating earnings improved, adjusted EPS beat consensus, and the company reiterated its earnings per share guidance for FY24.
- Investment and Progress: AEP is investing significantly in grid modernization and renewable energy resources to meet customer demand and enhance resiliency.
Analyst Views on DIVZ
Wall Street analysts forecast DIVZ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DIVZ is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 37.330
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Current: 37.330
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
