BidaskClub upgraded shares of American Electric Power Company, Inc. (NYSE:AEP) from a hold rating to a buy rating in a research report released on Tuesday.
AEP has been the subject of a number of other research reports. Goldman Sachs Group, Inc. (The) lowered American Electric Power from a buy rating to a neutral rating and lifted their target price for the company from $68.00 to $70.00 in a report on Monday, June 26th. Royal Bank Of Canada reaffirmed a hold rating and set a $71.00 target price on shares of American Electric Power in a report on Wednesday, August 2nd. Jefferies Group LLC lifted their target price on American Electric Power from $68.00 to $70.00 and gave the company a hold rating in a report on Friday, April 28th. Morgan Stanley lifted their target price on American Electric Power from $71.00 to $73.00 and gave the company an equal weight rating in a report on Thursday, August 10th. Finally, Zacks Investment Research lowered American Electric Power from a hold rating to a sell rating in a report on Wednesday, July 12th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. American Electric Power currently has an average rating of Buy and an average target price of $72.17.
American Electric Power (NYSE AEP) opened at 73.39 on Tuesday. American Electric Power has a 12-month low of $57.89 and a 12-month high of $73.66. The stock’s 50 day moving average is $70.41 and its 200-day moving average is $68.67. The company has a market capitalization of $36.10 billion, a P/E ratio of 63.16 and a beta of 0.30.
American Electric Power (NYSE:AEP) last posted its earnings results on Thursday, July 27th. The utilities provider reported $0.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.82 by $0.07. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.70 billion. American Electric Power had a net margin of 3.60% and a return on equity of 10.32%. During the same period in the previous year, the firm earned $0.95 EPS. On average, equities analysts predict that American Electric Power will post $3.66 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 10th will be given a $0.59 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $2.36 annualized dividend and a yield of 3.22%. American Electric Power’s payout ratio is currently 203.45%.
Hedge funds have recently made changes to their positions in the stock. DnB Asset Management AS increased its stake in shares of American Electric Power by 2.5% in the first quarter. DnB Asset Management AS now owns 29,000 shares of the utilities provider’s stock valued at $1,947,000 after buying an additional 700 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of American Electric Power by 5.6% in the first quarter. Nisa Investment Advisors LLC now owns 70,270 shares of the utilities provider’s stock worth $4,717,000 after buying an additional 3,745 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of American Electric Power during the first quarter worth approximately $617,000. Abner Herrman & Brock LLC increased its position in shares of American Electric Power by 7.6% in the first quarter. Abner Herrman & Brock LLC now owns 4,721 shares of the utilities provider’s stock worth $317,000 after buying an additional 332 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. increased its position in shares of American Electric Power by 17.2% in the first quarter. Candriam Luxembourg S.C.A. now owns 45,854 shares of the utilities provider’s stock worth $3,078,000 after buying an additional 6,717 shares in the last quarter. Hedge funds and other institutional investors own 70.77% of the company’s stock.
About American Electric Power
American Electric Power Company, Inc (AEP) is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.
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