American Electric Power Company Lowered to Equal Weight at Morgan Stanley (AEP)
American Electric Power Company (NYSE:AEP) was downgraded by stock analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Monday. They currently have a $52.00 target price on the stock. Morgan Stanley’s price target suggests a potential downside of 0.59% from the company’s current price. The analysts noted that the move was a valuation call.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of American Electric Power Company in a research note on Monday, July 28th. They now have a $56.00 price target on the stock, up previously from $52.00. Separately, analysts at RBC Capital raised their price target on shares of American Electric Power Company from $53.00 to $54.00 in a research note on Monday, July 28th. Finally, analysts at Jefferies Group cut their price target on shares of American Electric Power Company from $56.00 to $54.00 in a research note on Monday, July 28th. They now have a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $55.04.
American Electric Power Company (NYSE:AEP) traded down 3.04% during mid-day trading on Monday, hitting $50.72. The stock had a trading volume of 2,948,211 shares. American Electric Power Company has a 52-week low of $41.83 and a 52-week high of $55.94. The stock’s 50-day moving average is $54.07 and its 200-day moving average is $51.48. The company has a market cap of $24.785 billion and a P/E ratio of 14.75.
American Electric Power Company (NYSE:AEP) last issued its quarterly earnings data on Friday, July 25th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.05. The company had revenue of $4.00 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, analysts predict that American Electric Power Company will post $3.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Shareholders of record on Friday, August 8th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend is Wednesday, August 6th.
American Electric Power Company, Inc (NYSE:AEP) is a 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.
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