American Electric Power Company, Inc. (NYSE:AEP) Receives Average Rating of “Hold” from Analysts
American Electric Power Company, Inc. (NYSE:AEP) has earned a consensus recommendation of “Hold” from the sixteen ratings firms that are presently covering the firm, Marketbeat reports. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $72.18.
Several research analysts have recently issued reports on the company. Goldman Sachs Group, Inc. (The) downgraded American Electric Power from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $68.00 to $70.00 in a research note on Monday, June 26th. Royal Bank Of Canada reiterated a “hold” rating and set a $71.00 price objective on shares of American Electric Power in a research report on Wednesday, August 2nd. Jefferies Group LLC lifted their price objective on American Electric Power from $68.00 to $70.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Morgan Stanley lifted their price objective on American Electric Power from $71.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 10th. Finally, BidaskClub cut American Electric Power from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th.
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Shares of American Electric Power (NYSE:AEP) opened at 71.05 on Tuesday. The stock’s 50 day moving average is $69.85 and its 200-day moving average is $68.23. The stock has a market cap of $34.95 billion, a price-to-earnings ratio of 61.14 and a beta of 0.30. American Electric Power has a 12-month low of $57.89 and a 12-month high of $72.97.
American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by $0.07. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.70 billion. American Electric Power had a return on equity of 10.32% and a net margin of 3.60%. During the same period last year, the firm earned $0.95 EPS. Equities analysts anticipate that American Electric Power will post $3.66 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 10th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Tuesday, August 8th. American Electric Power’s dividend payout ratio is currently 203.45%.
Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in American Electric Power by 2,394.3% in the first quarter. BlackRock Inc. now owns 33,819,821 shares of the utilities provider’s stock valued at $2,270,326,000 after buying an additional 32,463,953 shares in the last quarter. Capital Research Global Investors raised its position in American Electric Power by 223.4% in the second quarter. Capital Research Global Investors now owns 10,110,731 shares of the utilities provider’s stock valued at $702,392,000 after buying an additional 6,983,864 shares in the last quarter. Epoch Investment Partners Inc. purchased a new position in American Electric Power during the second quarter valued at $122,927,000. Bank of Montreal Can raised its position in American Electric Power by 35.2% in the second quarter. Bank of Montreal Can now owns 4,366,510 shares of the utilities provider’s stock valued at $303,342,000 after buying an additional 1,137,941 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in American Electric Power by 3.4% in the first quarter. Vanguard Group Inc. now owns 34,128,589 shares of the utilities provider’s stock valued at $2,291,051,000 after buying an additional 1,124,366 shares in the last quarter. 70.77% of the stock is currently owned by institutional investors and hedge funds.
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 service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.
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