Analyst Consensus ?
ConsensusBuy35 ratings
Bullish2365.7%
Neutral1234.3%
Bearish00.0%
American Electric Power Company, Inc. · AEP · FY2026 Q1 · Calendar Q2 2026
AEP Beats Q1 Estimates, Raises Capital Plan to $78B on Data-Center Demand
AEP delivered a Q1 2026 beat with $1.64 in operating EPS versus $1.57 consensus and $6.02 billion in revenue versus $5.72 billion estimated, driven by robust load growth from data centers and industrial customers. The company raised its five-year capital plan to $78 billion, with $33 billion for transmission and $24 billion for generation, and reaffirmed full-year 2026 guidance of $6.15-$6.45 per share. Contracted load reached 63 GW, approximately 90% from data centers, underpinning the growth outlook. Regulatory successes delivered $16 billion in customer cost offsets, and a $1.6 billion DOE loan guarantee for transmission is expected to save customers over $275 million. Despite the strong quarter, the stock drifted approximately 7.8% lower in subsequent weeks, with analyst attention focused on PJM interconnection timing, equity financing needs, and execution risk on the expanded…
Reported Before market openNASDAQUtilities
$72.38B market cap
90quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.64
Consensus $1.57
EPS surprise
+4.5%
Reported versus consensus
Reported revenue
$6.02B
Consensus $5.72B
Revenue surprise
+5.3%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+1.8%
Event window
SPY move
+0.8%
Same window
Abnormal move
+1.0%
Stock minus SPY
Volume
1.6×
Versus trailing sessions
Subsequent drift
-7.8%
Up to 20 sessions
AEPSPY benchmark
Ask FN2 about AEP FY2026 Q1
Transcript, numbers and history already loaded
Why did AEP rise 1.8% after beating EPS estimates in FY2026 Q1?What changed in AEP's guidance and outlook in FY2026 Q1?Give me the bull and bear case for AEP after FY2026 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
AEP raised its five-year capital plan to $78 billion, reflecting incremental generation and transmission opportunities beyond the prior plan. Contracted load increased to 63 GW, with data centers comprising roughly 90%. The company secured a $1.6 billion DOE loan guarantee for transmission and announced protective cost-recovery terms on the Wyoming fuel-cell project. Regulatory wins included an Ohio distribution base-case settlement, an Arkansas ROE increase, and favorable outcomes in Indiana and West Virginia.
Guidance delta
AEP reaffirmed full-year 2026 operating earnings guidance of $6.15-$6.45 per share. The capital plan was raised to $78 billion over five years, with management citing $10 billion in additional upside opportunities. Guidance sentiment was characterized as maintained.
Key takeaways
- Q1 2026 operating earnings of $1.64/share beat the $1.57 consensus by 4.5%; revenue of $6.02 billion exceeded the $5.72 billion estimate by 5.3%.
- Contracted load reached 63 GW, with approximately 90% from data centers, providing visibility for multi-year growth.
- Five-year capital plan raised to $78 billion, including $33 billion for transmission and $24 billion for generation.
- Regulatory outcomes delivered $16 billion in customer cost offsets and favorable ROE decisions across multiple jurisdictions.
- Financing remains disciplined: $665 million of ATM equity issued, with equity comprising only 18% of incremental capex.
Management priorities
- Execute the $78 billion five-year capital plan with a focus on 765 kV transmission build-out.
- Advance new generation projects including gas-fired, renewables, storage, and fuel cells.
- Pursue additional $10 billion of upside projects (Wyoming, Piketon, and other generation opportunities).
- Continue regulatory engagement to secure tariffs and cost-offset mechanisms.
- Explore Genco structures in West Virginia and other strategic market opportunities.
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Beat
Miss
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Analyst 52W Price Targets
$130.3Current
$81Low
$126.21Average
$147High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 27, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Jefferies | Buy | Buy | Maintain | Oct 22, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Oct 21, 2026 |
| BTIG | Buy | Neutral | Upgrade | Oct 20, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Oct 19, 2026 |
| BMO Capital | Market Perform | Market Perform | Maintain | Oct 19, 2026 |
| Keybanc | Overweight | Sector Weight | Upgrade | Oct 13, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Oct 12, 2026 |
| Truist Securities | Buy | Buy | Maintain | Aug 17, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Aug 5, 2026 |
| Mizuho | Neutral | Neutral | Maintain | Jul 31, 2026 |
| Goldman Sachs | Neutral | Buy | Downgrade | Jul 16, 2026 |
| Ladenburg Thalmann | Buy | Buy | Maintain | Jun 18, 2026 |
| TD Cowen | Buy | Buy | Maintain | May 15, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | May 6, 2026 |
| Scotiabank | Sector Perform | Sector Perform | Maintain | May 6, 2026 |
| Seaport Global | Buy | Neutral | Upgrade | Apr 20, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Mar 5, 2026 |
| UBS | Neutral | Sell | Upgrade | Feb 27, 2026 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Feb 13, 2026 |
| B of A Securities | Neutral | Buy | Downgrade | Jan 12, 2026 |
| Raymond James | Outperform | Outperform | Maintain | Jul 31, 2025 |
| Guggenheim | Buy | Buy | Maintain | May 7, 2025 |
| RBC Capital | Outperform | Outperform | Maintain | May 3, 2024 |
| CFRA | Buy | Buy | Maintain | Feb 27, 2024 |
| Credit Suisse | Outperform | Outperform | Maintain | Dec 16, 2022 |
| Edward Jones | Buy | Buy | Maintain | Mar 11, 2021 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | Feb 21, 2020 |
| Scotia Howard Weil | Perform | Sector Perform | Maintain | Jul 24, 2018 |
| Argus Research | Buy | Buy | Maintain | May 24, 2018 |
| Argus | Buy | Buy | Maintain | May 24, 2018 |
| Macquarie | Outperform | Neutral | Upgrade | Jan 22, 2018 |
| Deutsche Bank | Buy | Hold | Upgrade | Jan 18, 2018 |
| Hilliard Lyons | Hold | Buy | Downgrade | Jul 29, 2016 |
| ISI Group | Neutral | Buy | Downgrade | Apr 21, 2014 |
| Bank of America | Buy | Neutral | Upgrade | Aug 9, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $130.3. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Jefferies | Analyst unavailable | $146 | $129.14 | +12.0% | Oct 22, 2026 |
| Jefferies | Julien Dumoulin-Smith | $145 | $128.88 | +11.3% | Oct 22, 2026 |
| HSBC | Analyst unavailable | $145.9 | $127.39 | +12.0% | Oct 22, 2026 |
| Morgan Stanley | Analyst unavailable | $130 | $127.71 | -0.2% | Oct 21, 2026 |
| BTIG | Analyst unavailable | $147 | $124.72 | +12.8% | Oct 20, 2026 |
| Jefferies | Analyst unavailable | $135 | $125.15 | +3.6% | Oct 19, 2026 |
| UBS | Analyst unavailable | $135 | $126.17 | +3.6% | Oct 19, 2026 |
| KeyBanc | Analyst unavailable | $133 | $124.23 | +2.1% | Oct 12, 2026 |
| UBS | Analyst unavailable | $139 | $120.46 | +6.7% | Sep 21, 2026 |
| Morgan Stanley | Analyst unavailable | $135 | $124.3 | +3.6% | Aug 21, 2026 |
| Truist Financial | Richard Sunderland | $139 | $125.6 | +6.7% | Aug 17, 2026 |
| Barclays | Analyst unavailable | $129 | $127.85 | -1.0% | Aug 3, 2026 |
| Morgan Stanley | David Arcaro | $139 | $132.36 | +6.7% | Jul 22, 2026 |
| Goldman Sachs | Carly Davenport | $147 | $132.5 | +12.8% | Jul 16, 2026 |
| Barclays | Analyst unavailable | $138 | $135.43 | +5.9% | Jul 13, 2026 |
| Morgan Stanley | David Arcaro | $129 | $129.26 | -1.0% | May 21, 2026 |
| Raymond James | Analyst unavailable | $144 | $131.5 | +10.5% | May 8, 2026 |
| Barclays | Analyst unavailable | $136 | $132.56 | +4.4% | May 7, 2026 |
| Scotiabank | Analyst unavailable | $140 | $137.04 | +7.4% | May 6, 2026 |
| Morgan Stanley | Analyst unavailable | $136 | $133.01 | +4.4% | Apr 21, 2026 |
| Wells Fargo | Analyst unavailable | $144 | $133.28 | +10.5% | Apr 21, 2026 |
| Seaport Global | Angie Storozynski | $145 | $133.66 | +11.3% | Apr 20, 2026 |
| Barclays | Analyst unavailable | $135 | $135.46 | +3.6% | Apr 15, 2026 |
| Morgan Stanley | Analyst unavailable | $133 | $128.95 | +2.1% | Feb 20, 2026 |
| Jefferies | Analyst unavailable | $150 | $128.42 | +15.1% | Feb 20, 2026 |
| BMO Capital | James Thalacker | $136 | $129.94 | +4.4% | Feb 17, 2026 |
| Wells Fargo | Analyst unavailable | $141 | $128.9 | +8.2% | Feb 13, 2026 |
| Mizuho Securities | Anthony Crowdell | $130 | $126.43 | -0.2% | Feb 13, 2026 |
| Wolfe Research | Steve Fleishman | $142 | $126.43 | +9.0% | Feb 13, 2026 |
| Barclays | Analyst unavailable | $121 | $118.98 | -7.1% | Jan 22, 2026 |
| Morgan Stanley | Analyst unavailable | $125 | $118.29 | -4.1% | Jan 21, 2026 |
| Wells Fargo | Analyst unavailable | $140 | $119.96 | +7.4% | Jan 20, 2026 |
| Williams Trading | Christopher Ellinghaus | $137 | $115.62 | +5.1% | Dec 18, 2025 |
| UBS | Analyst unavailable | $107 | $114.57 | -17.9% | Dec 17, 2025 |
| Morgan Stanley | Analyst unavailable | $120 | $115.78 | -7.9% | Dec 16, 2025 |
| Morgan Stanley | Analyst unavailable | $128 | $121.69 | -1.8% | Nov 20, 2025 |
| Jefferies | Julien Dumoulin-Smith | $137 | $121.3 | +5.1% | Nov 17, 2025 |
| Raymond James | Analyst unavailable | $138 | $122.39 | +5.9% | Oct 30, 2025 |
| Scotiabank | Analyst unavailable | $121 | $121.93 | -7.1% | Oct 30, 2025 |
| Evercore ISI | Nicholas Amicucci | $137 | $121.93 | +5.1% | Oct 30, 2025 |
| Mizuho Securities | Analyst unavailable | $123 | $122.11 | -5.6% | Oct 30, 2025 |
| BMO Capital | Analyst unavailable | $126 | $122.11 | -3.3% | Oct 30, 2025 |
| Wells Fargo | Analyst unavailable | $132 | $116.39 | +1.3% | Oct 27, 2025 |
| Morgan Stanley | Analyst unavailable | $123 | $117.85 | -5.6% | Oct 22, 2025 |
| Jefferies | Analyst unavailable | $128 | $119.71 | -1.8% | Oct 16, 2025 |
| BMO Capital | Analyst unavailable | $127 | $118.53 | -2.5% | Oct 16, 2025 |
| Barclays | Analyst unavailable | $117 | $116.8 | -10.2% | Oct 14, 2025 |
| UBS | Analyst unavailable | $116 | $116.91 | -11.0% | Oct 10, 2025 |
| Evercore ISI | Analyst unavailable | $133 | $115.66 | +2.1% | Oct 6, 2025 |
| Mizuho Securities | Anthony Crowdell | $113 | $108.08 | -13.3% | Sep 16, 2025 |
| Mizuho Securities | Anthony Crowdell | $116 | $113.25 | -11.0% | Jul 31, 2025 |
| Guggenheim | Shahriar Pourreza | $115 | $107.44 | -11.7% | May 7, 2025 |
| Morgan Stanley | David Arcaro | $114 | $107.02 | -12.5% | Apr 23, 2025 |
| BMO Capital | James Thalacker | $111 | $100.25 | -14.8% | Oct 4, 2024 |
| BMO Capital | James Thalacker | $114 | $101.5 | -12.5% | Oct 3, 2024 |
| Morgan Stanley | David Arcaro | $108 | $101.62 | -17.1% | Sep 25, 2024 |
| Bank of America Securities | Paul Cole | $98 | $99.11 | -24.8% | Aug 29, 2024 |
| Morgan Stanley | David Arcaro | $102 | $98.87 | -21.7% | Aug 23, 2024 |
| Scotiabank | Andrew Weisel | $99 | $98.29 | -24.0% | Jul 31, 2024 |
| BMO Capital | James Thalacker | $104 | $96.38 | -20.2% | Jul 29, 2024 |
| Morgan Stanley | David Arcaro | $98 | $88.8 | -24.8% | May 28, 2024 |
| BMO Capital | James Thalacker | $99 | $91.52 | -24.0% | May 14, 2024 |
| RBC Capital | Shelby Tucker | $100 | $88.25 | -23.3% | May 3, 2024 |
| BMO Capital | James Thalacker | $95 | $86.72 | -27.1% | May 1, 2024 |
| Barclays | Nicholas Campanella | $84 | $82.1 | -35.5% | Apr 15, 2024 |
| Morgan Stanley | Analyst unavailable | $112 | $94.65 | -14.0% | Feb 2, 2023 |
| Morgan Stanley | Analyst unavailable | $110 | $97.14 | -15.6% | Dec 15, 2022 |
| Morgan Stanley | Analyst unavailable | $104 | $91.24 | -20.2% | Nov 11, 2022 |
| Morgan Stanley | Analyst unavailable | $116 | $98.63 | -11.0% | Sep 22, 2022 |
| Morgan Stanley | Analyst unavailable | $118 | $103.41 | -9.4% | Aug 23, 2022 |
| Credit Suisse | Analyst unavailable | $105 | $96.26 | -19.4% | Jul 28, 2022 |
| BMO Capital | Analyst unavailable | $106 | $96.29 | -18.6% | Jul 28, 2022 |
| Morgan Stanley | Analyst unavailable | $111 | $92.71 | -14.8% | Jul 21, 2022 |
| Morgan Stanley | Analyst unavailable | $101 | $91.71 | -22.5% | Jun 23, 2022 |
| Morgan Stanley | Analyst unavailable | $113 | $100.03 | -13.3% | May 23, 2022 |
| Wells Fargo | Analyst unavailable | $111 | $102.43 | -14.8% | Apr 29, 2022 |
| CFRA | Analyst unavailable | $108 | $101.89 | -17.1% | Apr 28, 2022 |
| Credit Suisse | Analyst unavailable | $113 | $100.5 | -13.3% | Apr 26, 2022 |
| Morgan Stanley | Analyst unavailable | $117 | $102.47 | -10.2% | Apr 20, 2022 |
| RBC Capital | Shelby Tucker | $106 | $94.74 | -18.6% | Mar 14, 2022 |
| Goldman Sachs | Michael Lapides | $81 | $87.06 | -37.8% | Jul 27, 2021 |
| Bank of America Securities | Julien Dumoulin Smith | $97 | $85.4 | -25.6% | Jul 26, 2021 |
| Barclays | Eric Beaumont | $105 | $83.7 | -19.4% | May 25, 2021 |
Track every rating change on AEP the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationAmerican Electric Power Company, Inc. (AEP) operates as a prominent electric utility holding company, with its core business encompassing the generation, transmission, and delivery of electricity. Serving both retail and wholesale clients across the United States, AEP organizes its extensive operations into several key segments: Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing. The firm produces its electrical power from a diverse portfolio of energy sources, including coal, lignite, natural gas, nuclear, hydroelectric, solar, and wind power, alongside other emerging technologies. Beyond direct consumer sales, AEP also functions as a major wholesale electricity supplier, providing power to other utility companies, rural electric cooperatives, municipalities, and various other participants within the energy market. Incorporated in 1906, the company's corporate headquarters are situated in Columbus, Ohio.
Historical context
All AEP earningsLatest beats and misses
Who reports nextBeat on EPS
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- BAHFY2027 Q2 · October 23, 2026+18.9% EPS-0.3% move
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
Missed on EPS
- SUIFY2026 Q3 · October 26, 2026-20.0% EPS-4.1% move
- PSA-PIFY2026 Q3 · October 26, 2026-32.1% EPS— move
- PSA-PJFY2026 Q3 · October 26, 2026-32.1% EPS— move
- PSA-PHFY2026 Q3 · October 26, 2026-32.1% EPS— move
- PSA-PFFY2026 Q3 · October 26, 2026-32.1% EPS— move
- PSA-PSFY2026 Q3 · October 26, 2026-32.1% EPS— move
Get the AEP recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-29T12:40:51.442997+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-29T12:40:51.440140+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-07-29. For educational purposes only; not investment advice.