WallStSmart
AEP

American Electric Power Co Inc

NASDAQ: AEP · UTILITIES · UTILITIES - REGULATED ELECTRIC

$134.44
-0.85% today

Updated 2026-04-29

Market cap
$73.23B
P/E ratio
20.23
P/S ratio
3.35x
EPS (TTM)
$6.66
Dividend yield
2.77%
52W range
$95 – $138
Volume
3.2M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

American Electric Power Co Inc (AEP) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$134.44
Consensus
$133.00
-1.07%
2030 Target
$650.13
+383.58%
DCF
$76.88
-59.01% MoS
17 analysts:
8 Buy9 Hold0 Sell

Management guidance

AEP reaffirmed its 2026 operating EPS guidance and long-term earnings growth forecast. The company has expanded its contracted load pipeline to 56 GW by 2030, driven by AI data center demand, significantly bolstering its $72 billion five-year capital plan with new incremental projects. Management targets substantial capital deployment tied to transmission infrastructure for data centers and grid modernization.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$1,087.98
$29.4B Rev × 20x P/S
Base case (2030)
$650.13
$29.4B Rev × 12x P/S
Bear case (2030)
$437.84
$29.4B Rev × 8x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$19.4B$19.9B$21.8B$23.4B$24.5B$25.9B$27.5B$29.4B
Revenue growth—2.8%9.4%7.2%4.7%5.5%6.3%7.1%
EPS$5.24$5.61$5.96$6.41$6.92$7.48$8.15$8.92
P/S ratio———12.0x12.0x12.0x12.0x12.0x
Implied price———$517.45$543.99$570.52$610.33$650.13

Catalysts & risks

Growth catalysts
+ 56 GW contracted data center load pipeline through 2030 driving incremental capital deployment and revenue growth
+ Execution of $72 billion five-year capital plan with expanded transmission projects (e.g., $4.2B SB Energy 765-kV project in Ohio)
+ AI infrastructure buildout creating sustained electrification demand in AEP's service territories with long-term PPAs
+ Rate recovery mechanisms for transmission infrastructure supporting data center connectivity (Grid Growth Ohio and similar projects)
Key risks
- Regulatory pushback on cost recovery for data center-related transmission projects (FERC challenge to Grid Growth Ohio ROE and formula rate)
- Construction cost inflation and execution risks on expanded $72B capital program
- Potential demand uncertainty if AI data center growth decelerates or shifts to different regions outside AEP's service territories
- Refinancing risk given high debt levels ($50.24B total debt) in rising rate environment

Methodology

American Electric Power Co Inc's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 17 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 6, 2026.