American Electric Power Company Inc (AEP) Receives Average Rating of “Buy” from Brokerages

Shares of American Electric Power Company Inc (NYSE:AEP) have been given an average recommendation of “Buy” by the eighteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $75.62.

AEP has been the subject of several research reports. Morgan Stanley upgraded shares of American Electric Power from an “equal weight” rating to an “overweight” rating and set a $83.00 price objective for the company in a research note on Wednesday, December 13th. ValuEngine downgraded shares of American Electric Power from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. Guggenheim downgraded shares of American Electric Power from a “neutral” rating to a “sell” rating in a research note on Tuesday, January 2nd. Zacks Investment Research downgraded shares of American Electric Power from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Finally, SunTrust Banks reiterated a “buy” rating and set a $78.00 price objective on shares of American Electric Power in a research note on Tuesday, January 9th.

American Electric Power (AEP) opened at $66.48 on Tuesday. The company has a quick ratio of 0.43, a current ratio of 0.49 and a debt-to-equity ratio of 1.04. American Electric Power has a 1-year low of $62.69 and a 1-year high of $78.07. The stock has a market cap of $32,700.00, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 3.24 and a beta of 0.18.

American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, January 25th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.04. American Electric Power had a net margin of 12.39% and a return on equity of 10.05%. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the company earned $0.67 earnings per share. The business’s revenue for the quarter was up .0% on a year-over-year basis. sell-side analysts anticipate that American Electric Power will post 3.89 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 9th will be given a dividend of $0.62 per share. The ex-dividend date is Thursday, February 8th. This represents a $2.48 dividend on an annualized basis and a yield of 3.73%. American Electric Power’s dividend payout ratio is presently 64.75%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN lifted its position in American Electric Power by 29.1% during the third quarter. Wells Fargo & Company MN now owns 10,029,371 shares of the utilities provider’s stock valued at $704,464,000 after purchasing an additional 2,260,303 shares during the period. JPMorgan Chase & Co. lifted its position in American Electric Power by 70.2% during the third quarter. JPMorgan Chase & Co. now owns 6,696,615 shares of the utilities provider’s stock valued at $472,110,000 after purchasing an additional 2,762,164 shares during the period. Ameriprise Financial Inc. lifted its position in American Electric Power by 36.4% during the third quarter. Ameriprise Financial Inc. now owns 4,140,524 shares of the utilities provider’s stock valued at $290,796,000 after purchasing an additional 1,103,849 shares during the period. Legal & General Group Plc lifted its position in American Electric Power by 3.4% during the third quarter. Legal & General Group Plc now owns 3,714,801 shares of the utilities provider’s stock valued at $260,924,000 after purchasing an additional 122,579 shares during the period. Finally, APG Asset Management N.V. lifted its position in American Electric Power by 7.5% during the fourth quarter. APG Asset Management N.V. now owns 3,627,906 shares of the utilities provider’s stock valued at $222,273,000 after purchasing an additional 251,700 shares during the period. Institutional investors own 71.12% of the company’s stock.

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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.

Analyst Recommendations for American Electric Power (NYSE:AEP)

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