American Electric Power Company Earns “BBB+” Credit Rating from Morningstar (AEP)
American Electric Power Company (NYSE:AEP) has earned a “BBB+” credit rating from Morningstar. The credit rating agency’s “BBB+” rating suggests that the company is a moderate default risk. They also issued a positive credit outlook for the company and gave their stock a three star rating.
AEP has been the subject of a number of other recent research reports. Analysts at Morgan Stanley downgraded shares of American Electric Power Company from an “overweight” rating to an “equal weight” rating in a research note on Monday, August 4th. They now have a $52.00 price target on the stock. They noted that the move was a valuation call. Separately, 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. Finally, 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. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $54.13.
Shares of American Electric Power Company (NYSE:AEP) opened at 53.70 on Tuesday. 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 $52.5 and its 200-day moving average is $52.04. The company has a market cap of $26.242 billion and a price-to-earnings ratio of 15.04.
American Electric Power Company (NYSE:AEP) last announced its earnings results on Friday, July 25th. The company reported $0.80 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.73 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. Analysts expect that American Electric Power Company will post $3.49 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Stockholders 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 3.72%. The ex-dividend date 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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