American Electric Power (NYSE:AEP) had its price objective reduced by Argus from $84.00 to $79.00 in a report released on Thursday morning. They currently have a buy rating on the utilities provider’s stock.
A number of other equities research analysts have also recently weighed in on AEP. UBS initiated coverage on American Electric Power in a research note on Friday, February 2nd. They issued a buy rating and a $76.00 price objective for the company. SunTrust Banks set a $75.00 price target on American Electric Power and gave the stock a buy rating in a report on Monday, February 12th. Zacks Investment Research downgraded American Electric Power from a hold rating to a sell rating in a report on Tuesday, February 13th. Morgan Stanley reduced their target price on American Electric Power from $77.00 to $71.00 and set a buy rating for the company in a report on Tuesday, February 13th. Finally, Guggenheim upgraded American Electric Power from a sell rating to a neutral rating in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. American Electric Power has an average rating of Buy and an average price target of $74.14.
Shares of American Electric Power opened at $67.22 on Thursday, according to Marketbeat.com. American Electric Power has a twelve month low of $63.32 and a twelve month high of $78.07. The company has a quick ratio of 0.34, a current ratio of 0.44 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $32.92 billion, a PE ratio of 18.27, a PEG ratio of 3.03 and a beta of 0.16.
American Electric Power (NYSE:AEP) last issued its quarterly earnings data on Thursday, April 26th. The utilities provider reported $0.96 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.02). American Electric Power had a net margin of 11.41% and a return on equity of 9.93%. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $4 billion. During the same period in the previous year, the firm posted $0.96 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. research analysts anticipate that American Electric Power will post 3.88 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Thursday, May 10th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Wednesday, May 9th. American Electric Power’s payout ratio is 67.39%.
In other American Electric Power news, EVP Mark C. Mccullough sold 721 shares of the business’s stock in a transaction that occurred on Friday, May 4th. The stock was sold at an average price of $69.63, for a total transaction of $50,203.23. Following the transaction, the executive vice president now owns 7,386 shares in the company, valued at approximately $514,287.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AEP. Schwab Charles Investment Management Inc. increased its position in American Electric Power by 3.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,792,926 shares of the utilities provider’s stock worth $131,906,000 after purchasing an additional 55,384 shares during the period. SG Americas Securities LLC increased its position in American Electric Power by 347.6% during the 4th quarter. SG Americas Securities LLC now owns 60,667 shares of the utilities provider’s stock worth $4,463,000 after purchasing an additional 47,114 shares during the period. Jennison Associates LLC increased its position in American Electric Power by 60.0% during the 4th quarter. Jennison Associates LLC now owns 3,125,059 shares of the utilities provider’s stock worth $229,911,000 after purchasing an additional 1,172,085 shares during the period. Robeco Institutional Asset Management B.V. increased its position in American Electric Power by 0.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 915,698 shares of the utilities provider’s stock worth $67,369,000 after purchasing an additional 8,493 shares during the period. Finally, Eqis Capital Management Inc. increased its position in American Electric Power by 69.3% during the 4th quarter. Eqis Capital Management Inc. now owns 15,102 shares of the utilities provider’s stock worth $1,111,000 after purchasing an additional 6,182 shares during the period. Institutional investors own 72.31% of the company’s stock.
American Electric Power Company Profile
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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