Analyst Consensus ?
ConsensusBuy35 ratings
Bullish2365.7%
Neutral1234.3%
Bearish00.0%
American Electric Power Company, Inc. · AEP · FY2026 Q3 · Calendar Q4 2026
AEP raises long-term growth target on $100 billion capital plan
AEP’s latest call supports a constructive growth case: management paired stronger long-term EPS targets with a larger capital plan, contracted large-load demand, and transmission and generation projects. The evidence is positive but depends on execution, regulation, affordability, and financing.
Reported Before market openNASDAQUtilities
$70.93B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $2.05
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $6.55B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-0.7%
Event window
SPY move
+0.2%
Same window
Abnormal move
-0.9%
Stock minus SPY
Volume
0.7×
Versus trailing sessions
Subsequent drift
0.0%
Up to 20 sessions
AEPSPY benchmark
Ask FN2 about AEP FY2026 Q3
Transcript, numbers and history already loaded
What drove AEP's -0.7% move after FY2026 Q3 earnings?What changed in AEP's guidance and outlook in FY2026 Q3?Give me the bull and bear case for AEP after FY2026 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, AEP introduced a $100 billion five-year capital plan and a 9–11% annual EPS growth target for 2027–2031. The company also highlighted a 20-year Google power purchase agreement for the Wyoming fuel-cell project and an early-stage SMR partnership with XEnergy and Amazon.
Guidance delta
Management reaffirmed 2026 earnings at the high end of guidance and raised its long-term EPS growth target to 9–11% for 2027–2031.
Key takeaways
- Management reported strong Q3 results and reaffirmed 2026 earnings at the high end of guidance.
- A new $100 billion five-year capital plan is intended to nearly double the rate base by 2031.
- Transmission, large-load contracts, and generation projects are the main growth engines.
- Management highlighted affordability measures, including take-or-pay contracts, alongside demand growth from data centers and manufacturing.
Management priorities
- Execute the expanded transmission and generation investment plan.
- Advance the Wyoming fuel-cell project, including its Google power purchase agreement.
- Develop 765 kV transmission projects and pursue additional Texas opportunities.
- Maintain regulatory cost recovery and affordability through contracted load.
Follow AEP with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$128.92Current
$81Low
$126.21Average
$147High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 28, 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 $128.92. 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 | +13.2% | Oct 22, 2026 |
| Jefferies | Julien Dumoulin-Smith | $145 | $128.88 | +12.5% | Oct 22, 2026 |
| HSBC | Analyst unavailable | $145.9 | $127.39 | +13.2% | Oct 22, 2026 |
| Morgan Stanley | Analyst unavailable | $130 | $127.71 | +0.8% | Oct 21, 2026 |
| BTIG | Analyst unavailable | $147 | $124.72 | +14.0% | Oct 20, 2026 |
| Jefferies | Analyst unavailable | $135 | $125.15 | +4.7% | Oct 19, 2026 |
| UBS | Analyst unavailable | $135 | $126.17 | +4.7% | Oct 19, 2026 |
| KeyBanc | Analyst unavailable | $133 | $124.23 | +3.2% | Oct 12, 2026 |
| UBS | Analyst unavailable | $139 | $120.46 | +7.8% | Sep 21, 2026 |
| Morgan Stanley | Analyst unavailable | $135 | $124.3 | +4.7% | Aug 21, 2026 |
| Truist Financial | Richard Sunderland | $139 | $125.6 | +7.8% | Aug 17, 2026 |
| Barclays | Analyst unavailable | $129 | $127.85 | +0.1% | Aug 3, 2026 |
| Morgan Stanley | David Arcaro | $139 | $132.36 | +7.8% | Jul 22, 2026 |
| Goldman Sachs | Carly Davenport | $147 | $132.5 | +14.0% | Jul 16, 2026 |
| Barclays | Analyst unavailable | $138 | $135.43 | +7.0% | Jul 13, 2026 |
| Morgan Stanley | David Arcaro | $129 | $129.26 | +0.1% | May 21, 2026 |
| Raymond James | Analyst unavailable | $144 | $131.5 | +11.7% | May 8, 2026 |
| Barclays | Analyst unavailable | $136 | $132.56 | +5.5% | May 7, 2026 |
| Scotiabank | Analyst unavailable | $140 | $137.04 | +8.6% | May 6, 2026 |
| Morgan Stanley | Analyst unavailable | $136 | $133.01 | +5.5% | Apr 21, 2026 |
| Wells Fargo | Analyst unavailable | $144 | $133.28 | +11.7% | Apr 21, 2026 |
| Seaport Global | Angie Storozynski | $145 | $133.66 | +12.5% | Apr 20, 2026 |
| Barclays | Analyst unavailable | $135 | $135.46 | +4.7% | Apr 15, 2026 |
| Morgan Stanley | Analyst unavailable | $133 | $128.95 | +3.2% | Feb 20, 2026 |
| Jefferies | Analyst unavailable | $150 | $128.42 | +16.4% | Feb 20, 2026 |
| BMO Capital | James Thalacker | $136 | $129.94 | +5.5% | Feb 17, 2026 |
| Wells Fargo | Analyst unavailable | $141 | $128.9 | +9.4% | Feb 13, 2026 |
| Mizuho Securities | Anthony Crowdell | $130 | $126.43 | +0.8% | Feb 13, 2026 |
| Wolfe Research | Steve Fleishman | $142 | $126.43 | +10.1% | Feb 13, 2026 |
| Barclays | Analyst unavailable | $121 | $118.98 | -6.1% | Jan 22, 2026 |
| Morgan Stanley | Analyst unavailable | $125 | $118.29 | -3.0% | Jan 21, 2026 |
| Wells Fargo | Analyst unavailable | $140 | $119.96 | +8.6% | Jan 20, 2026 |
| Williams Trading | Christopher Ellinghaus | $137 | $115.62 | +6.3% | Dec 18, 2025 |
| UBS | Analyst unavailable | $107 | $114.57 | -17.0% | Dec 17, 2025 |
| Morgan Stanley | Analyst unavailable | $120 | $115.78 | -6.9% | Dec 16, 2025 |
| Morgan Stanley | Analyst unavailable | $128 | $121.69 | -0.7% | Nov 20, 2025 |
| Jefferies | Julien Dumoulin-Smith | $137 | $121.3 | +6.3% | Nov 17, 2025 |
| Raymond James | Analyst unavailable | $138 | $122.39 | +7.0% | Oct 30, 2025 |
| Scotiabank | Analyst unavailable | $121 | $121.93 | -6.1% | Oct 30, 2025 |
| Evercore ISI | Nicholas Amicucci | $137 | $121.93 | +6.3% | Oct 30, 2025 |
| Mizuho Securities | Analyst unavailable | $123 | $122.11 | -4.6% | Oct 30, 2025 |
| BMO Capital | Analyst unavailable | $126 | $122.11 | -2.3% | Oct 30, 2025 |
| Wells Fargo | Analyst unavailable | $132 | $116.39 | +2.4% | Oct 27, 2025 |
| Morgan Stanley | Analyst unavailable | $123 | $117.85 | -4.6% | Oct 22, 2025 |
| Jefferies | Analyst unavailable | $128 | $119.71 | -0.7% | Oct 16, 2025 |
| BMO Capital | Analyst unavailable | $127 | $118.53 | -1.5% | Oct 16, 2025 |
| Barclays | Analyst unavailable | $117 | $116.8 | -9.2% | Oct 14, 2025 |
| UBS | Analyst unavailable | $116 | $116.91 | -10.0% | Oct 10, 2025 |
| Evercore ISI | Analyst unavailable | $133 | $115.66 | +3.2% | Oct 6, 2025 |
| Mizuho Securities | Anthony Crowdell | $113 | $108.08 | -12.3% | Sep 16, 2025 |
| Mizuho Securities | Anthony Crowdell | $116 | $113.25 | -10.0% | Jul 31, 2025 |
| Guggenheim | Shahriar Pourreza | $115 | $107.44 | -10.8% | May 7, 2025 |
| Morgan Stanley | David Arcaro | $114 | $107.02 | -11.6% | Apr 23, 2025 |
| BMO Capital | James Thalacker | $111 | $100.25 | -13.9% | Oct 4, 2024 |
| BMO Capital | James Thalacker | $114 | $101.5 | -11.6% | Oct 3, 2024 |
| Morgan Stanley | David Arcaro | $108 | $101.62 | -16.2% | Sep 25, 2024 |
| Bank of America Securities | Paul Cole | $98 | $99.11 | -24.0% | Aug 29, 2024 |
| Morgan Stanley | David Arcaro | $102 | $98.87 | -20.9% | Aug 23, 2024 |
| Scotiabank | Andrew Weisel | $99 | $98.29 | -23.2% | Jul 31, 2024 |
| BMO Capital | James Thalacker | $104 | $96.38 | -19.3% | Jul 29, 2024 |
| Morgan Stanley | David Arcaro | $98 | $88.8 | -24.0% | May 28, 2024 |
| BMO Capital | James Thalacker | $99 | $91.52 | -23.2% | May 14, 2024 |
| RBC Capital | Shelby Tucker | $100 | $88.25 | -22.4% | May 3, 2024 |
| BMO Capital | James Thalacker | $95 | $86.72 | -26.3% | May 1, 2024 |
| Barclays | Nicholas Campanella | $84 | $82.1 | -34.8% | Apr 15, 2024 |
| Morgan Stanley | Analyst unavailable | $112 | $94.65 | -13.1% | Feb 2, 2023 |
| Morgan Stanley | Analyst unavailable | $110 | $97.14 | -14.7% | Dec 15, 2022 |
| Morgan Stanley | Analyst unavailable | $104 | $91.24 | -19.3% | Nov 11, 2022 |
| Morgan Stanley | Analyst unavailable | $116 | $98.63 | -10.0% | Sep 22, 2022 |
| Morgan Stanley | Analyst unavailable | $118 | $103.41 | -8.5% | Aug 23, 2022 |
| Credit Suisse | Analyst unavailable | $105 | $96.26 | -18.6% | Jul 28, 2022 |
| BMO Capital | Analyst unavailable | $106 | $96.29 | -17.8% | Jul 28, 2022 |
| Morgan Stanley | Analyst unavailable | $111 | $92.71 | -13.9% | Jul 21, 2022 |
| Morgan Stanley | Analyst unavailable | $101 | $91.71 | -21.7% | Jun 23, 2022 |
| Morgan Stanley | Analyst unavailable | $113 | $100.03 | -12.3% | May 23, 2022 |
| Wells Fargo | Analyst unavailable | $111 | $102.43 | -13.9% | Apr 29, 2022 |
| CFRA | Analyst unavailable | $108 | $101.89 | -16.2% | Apr 28, 2022 |
| Credit Suisse | Analyst unavailable | $113 | $100.5 | -12.3% | Apr 26, 2022 |
| Morgan Stanley | Analyst unavailable | $117 | $102.47 | -9.2% | Apr 20, 2022 |
| RBC Capital | Shelby Tucker | $106 | $94.74 | -17.8% | Mar 14, 2022 |
| Goldman Sachs | Michael Lapides | $81 | $87.06 | -37.2% | Jul 27, 2021 |
| Bank of America Securities | Julien Dumoulin Smith | $97 | $85.4 | -24.8% | Jul 26, 2021 |
| Barclays | Eric Beaumont | $105 | $83.7 | -18.6% | 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 earningsUtilities peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| CMSA CMS Energy Corporation 5.6% JRSUB NT 78 | FY2026 Q3 · Calendar Q4 2026 | +6.7% | 0.0% | CMS Energy reaffirms guidance as NorthStar restructuring advances |
| CMS CMS Energy Corporation | FY2026 Q3 · Calendar Q4 2026 | +6.7% | -0.8% | CMS Energy Maintains Guidance as Load Growth and Restructuring Advance |
| CNP CenterPoint Energy, Inc. | FY2026 Q3 · Calendar Q4 2026 | +6.3% | +1.9% | CenterPoint raises guidance as Houston load growth expands capital plan |
Latest beats and misses
Who reports nextBeat on EPS
- HLTFY2026 Q3 · October 27, 2026+3.4% EPS-2.1% move
- SPGIFY2026 Q3 · October 27, 2026+3.4% EPS-0.4% move
- PYPLFY2026 Q3 · October 27, 2026+10.7% EPS+2.0% move
- CMSAFY2026 Q3 · October 27, 2026+6.7% EPS0.0% move
- ITWFY2026 Q3 · October 27, 2026+2.4% EPS-0.1% move
- IQVFY2026 Q3 · October 27, 2026+2.5% EPS-0.7% move
Missed on EPS
- WMFY2026 Q3 · October 27, 2026-1.4% EPS-3.2% move
- ARCCFY2026 Q3 · October 27, 2026-3.4% EPS-0.5% move
- WSOFY2026 Q3 · October 27, 2026-8.0% EPS-1.4% move
- IVZFY2026 Q3 · October 27, 2026-2.7% EPS-0.4% move
- SHWFY2026 Q3 · October 27, 2026-1.6% EPS-2.7% move
- BAFY2026 Q3 · October 27, 2026-33.4% EPS-10.7% move
Get the AEP recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-10-28T16:04:47.214514+00:00
- FN2 earnings calendar · 2026-10-28T01:23:13.546025+00:00
- Polygon adjusted daily market bars · 2026-10-28T16:50:42.022324+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-28T16:50:42.019547+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 2026-10-28. For educational purposes only; not investment advice.