Jefferies Group Lowers American Electric Power Co. (AEP) to Hold
American Electric Power Co. (NYSE:AEP) was downgraded by stock analysts at Jefferies Group from a “buy” rating to a “hold” rating in a research report issued on Tuesday. They currently have a $67.00 price objective on the stock, down from their prior price objective of $77.00. Jefferies Group’s target price indicates a potential upside of 2.42% from the stock’s current price. The analysts noted that the move was a valuation call.
A number of other equities research analysts have also issued reports on the stock. Citigroup Inc. upped their target price on shares of American Electric Power from $68.00 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, September 8th. KeyCorp reiterated an “outperform” rating and set a $72.50 price objective (up previously from $69.00) on shares of American Electric Power in a research note on Saturday, July 2nd. Hilliard Lyons lowered shares of American Electric Power from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Goldman Sachs Group Inc. upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $71.00 to $73.00 in a research note on Tuesday, July 26th. Finally, Zacks Investment Research lowered shares of American Electric Power from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. American Electric Power currently has an average rating of “Buy” and an average price target of $67.39.
Shares of American Electric Power (NYSE:AEP) opened at 65.42 on Tuesday. American Electric Power has a 52 week low of $53.30 and a 52 week high of $71.32. The stock’s 50 day moving average price is $66.17 and its 200 day moving average price is $66.17. The stock has a market cap of $32.17 billion, a price-to-earnings ratio of 16.15 and a beta of 0.24.
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American Electric Power (NYSE:AEP) last issued its earnings results on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. The business had revenue of $3.90 billion for the quarter, compared to analyst estimates of $4.01 billion. American Electric Power had a net margin of 12.50% and a return on equity of 9.54%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 EPS. Equities research analysts anticipate that American Electric Power will post $3.69 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 10th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.42%. American Electric Power’s dividend payout ratio (DPR) is presently 55.17%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Brick & Kyle Associates boosted its stake in shares of American Electric Power by 18.7% in the second quarter. Brick & Kyle Associates now owns 1,430 shares of the company’s stock worth $100,000 after buying an additional 225 shares during the last quarter. Jackson Grant Investment Advisers Inc. boosted its stake in shares of American Electric Power by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,447 shares of the company’s stock worth $101,000 after buying an additional 12 shares during the last quarter. Van ECK Associates Corp acquired a new stake in shares of American Electric Power during the second quarter worth $104,000. Krilogy Financial LLC boosted its stake in shares of American Electric Power by 105.2% in the second quarter. Krilogy Financial LLC now owns 1,531 shares of the company’s stock worth $107,000 after buying an additional 785 shares during the last quarter. Finally, Wealthcare Capital Management LLC acquired a new stake in shares of American Electric Power during the second quarter worth $108,000. Institutional investors and hedge funds own 69.19% 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 Company’s segments include Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing.
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