Equities Analysts Issue Forecasts for American Electric Power Co.’s Q3 2016 Earnings (AEP)
American Electric Power Co. (NYSE:AEP) – Stock analysts at KeyCorp issued their Q3 2016 earnings estimates for American Electric Power in a research note issued to investors on Monday. KeyCorp analyst P. Ridzon forecasts that the brokerage will post earnings of $1.26 per share for the quarter. KeyCorp currently has a “Buy” rating and a $72.50 target price on the stock.
A number of other equities analysts have also recently weighed in on the company. Royal Bank Of Canada reduced their price target on American Electric Power from $72.00 to $67.00 and set a “sector perform” rating for the company in a report on Thursday, October 13th. RBC Capital Markets reiterated a “hold” rating and set a $67.00 price objective (down from $72.00) on shares of American Electric Power in a research note on Thursday, October 13th. Citigroup Inc. cut their price objective on American Electric Power from $69.00 to $66.00 and set a “neutral” rating for the company in a research note on Tuesday, October 4th. SunTrust Banks Inc. boosted their price objective on American Electric Power from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, September 26th. Finally, Jefferies Group lowered American Electric Power from a “buy” rating to a “hold” rating and cut their price objective for the stock from $77.00 to $67.00 in a research note on Tuesday, September 20th. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $68.17.
Shares of American Electric Power (NYSE:AEP) traded down 0.09% during midday trading on Wednesday, hitting $63.31. The company had a trading volume of 1,135,655 shares. The company has a 50-day moving average of $64.19 and a 200-day moving average of $66.00. The company has a market capitalization of $31.13 billion, a PE ratio of 15.62 and a beta of 0.23. American Electric Power has a 12 month low of $53.30 and a 12 month high of $71.32.
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American Electric Power (NYSE:AEP) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.05. American Electric Power had a return on equity of 9.54% and a net margin of 12.50%. The firm earned $3.90 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period last year, the company earned $0.88 EPS. American Electric Power’s quarterly revenue was up 2.6% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new position in American Electric Power during the second quarter worth approximately $261,970,000. PGGM Investments boosted its stake in shares of American Electric Power by 64.0% in the second quarter. PGGM Investments now owns 1,210,748 shares of the company’s stock valued at $84,861,000 after buying an additional 472,448 shares during the last quarter. CIBC World Markets Inc. boosted its stake in shares of American Electric Power by 60.1% in the second quarter. CIBC World Markets Inc. now owns 12,987 shares of the company’s stock valued at $910,000 after buying an additional 4,876 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in shares of American Electric Power by 3.6% in the first quarter. Panagora Asset Management Inc. now owns 782,385 shares of the company’s stock valued at $51,950,000 after buying an additional 27,294 shares during the last quarter. Finally, Strs Ohio boosted its stake in shares of American Electric Power by 3.2% in the second quarter. Strs Ohio now owns 318,556 shares of the company’s stock valued at $22,327,000 after buying an additional 9,789 shares during the last quarter. Institutional investors own 68.66% 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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