FY2017 EPS Estimates for American Electric Power Co. Reduced by Analyst (AEP)
American Electric Power Co. (NYSE:AEP) – Investment analysts at Jefferies Group lowered their FY2017 earnings per share (EPS) estimates for American Electric Power in a note issued to investors on Tuesday. Jefferies Group analyst A. Crowdell now expects that the brokerage will post earnings of $3.65 per share for the year, down from their previous estimate of $3.80. Jefferies Group has a “Hold” rating and a $67.00 price objective on the stock. Jefferies Group also issued estimates for American Electric Power’s FY2018 earnings at $3.90 EPS and FY2019 earnings at $4.20 EPS.
AEP has been the subject of a number of other reports. Zacks Investment Research downgraded American Electric Power from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. KeyCorp reissued an “outperform” rating and set a $72.50 price target (up previously from $69.00) on shares of American Electric Power in a report on Saturday, July 2nd. Goldman Sachs Group Inc. upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating and upped their price target for the stock from $71.00 to $73.00 in a research report on Tuesday, July 26th. Citigroup Inc. upped their price target on shares of American Electric Power from $61.00 to $68.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 20th. Finally, Hilliard Lyons cut shares of American Electric Power from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. American Electric Power has a consensus rating of “Buy” and an average price target of $67.39.
Shares of American Electric Power (NYSE:AEP) traded up 1.35% during midday trading on Wednesday, reaching $65.89. 2,271,786 shares of the company were exchanged. The company has a market capitalization of $32.40 billion, a PE ratio of 16.26 and a beta of 0.24. American Electric Power has a 52-week low of $53.30 and a 52-week high of $71.32. The firm’s 50 day moving average is $66.05 and its 200-day moving average is $66.19.
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American Electric Power (NYSE:AEP) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.05. The firm had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $4.01 billion. American Electric Power had a net margin of 12.50% and a return on equity of 9.54%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.88 EPS.
The company 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 3.45%. American Electric Power’s dividend payout ratio (DPR) is 55.17%.
Several hedge funds have recently made changes to their positions in the stock. State Street Corp raised its stake in shares of American Electric Power by 7.5% in the first quarter. State Street Corp now owns 25,117,238 shares of the company’s stock valued at $1,667,787,000 after buying an additional 1,758,073 shares during the period. BlackRock Fund Advisors raised its stake in shares of American Electric Power by 7.6% in the second quarter. BlackRock Fund Advisors now owns 10,520,383 shares of the company’s stock valued at $737,374,000 after buying an additional 740,983 shares during the period. FMR LLC raised its stake in shares of American Electric Power by 72.8% in the second quarter. FMR LLC now owns 9,114,402 shares of the company’s stock valued at $638,828,000 after buying an additional 3,840,681 shares during the period. JPMorgan Chase & Co. raised its stake in shares of American Electric Power by 10.1% in the first quarter. JPMorgan Chase & Co. now owns 7,370,135 shares of the company’s stock valued at $489,376,000 after buying an additional 678,053 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of American Electric Power by 3.9% in the second quarter. Alliancebernstein L.P. now owns 6,149,393 shares of the company’s stock valued at $431,011,000 after buying an additional 233,632 shares during the period. Institutional investors and hedge funds own 68.74% 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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