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

American Electric Power Company Inc (NYSE:AEP) has been assigned a consensus recommendation of “Buy” from the nineteen analysts that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $75.97.

Several equities analysts have weighed in on AEP shares. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a report on Monday, September 10th. They noted that the move was a valuation call. Citigroup raised their price target on American Electric Power from $71.00 to $72.00 and gave the company a “neutral” rating in a report on Monday, September 10th. Morgan Stanley raised their price target on American Electric Power from $76.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, September 11th. Wells Fargo & Co lifted their target price on American Electric Power from $77.00 to $81.00 and gave the stock an “outperform” rating in a report on Monday, September 17th. Finally, Zacks Investment Research upgraded American Electric Power from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a report on Monday, October 15th.

In other news, insider Paul Chodak III sold 847 shares of American Electric Power stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $76.47, for a total value of $64,770.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lisa M. Barton sold 881 shares of American Electric Power stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $77.55, for a total value of $68,321.55. Following the completion of the transaction, the insider now owns 581 shares of the company’s stock, valued at approximately $45,056.55. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the stock. OppenheimerFunds Inc. lifted its stake in shares of American Electric Power by 39.6% during the 2nd quarter. OppenheimerFunds Inc. now owns 801,766 shares of the utilities provider’s stock worth $55,522,000 after acquiring an additional 227,613 shares during the last quarter. Hanson McClain Inc. lifted its stake in shares of American Electric Power by 18.7% during the 3rd quarter. Hanson McClain Inc. now owns 5,004 shares of the utilities provider’s stock worth $355,000 after acquiring an additional 787 shares during the last quarter. OLD Republic International Corp lifted its stake in shares of American Electric Power by 20.9% during the 2nd quarter. OLD Republic International Corp now owns 312,800 shares of the utilities provider’s stock worth $21,661,000 after acquiring an additional 54,000 shares during the last quarter. First Hawaiian Bank bought a new stake in shares of American Electric Power during the 3rd quarter worth approximately $289,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of American Electric Power by 1.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,536,015 shares of the utilities provider’s stock worth $392,393,000 after acquiring an additional 64,801 shares during the last quarter. 72.55% of the stock is owned by hedge funds and other institutional investors.

NYSE AEP opened at $77.74 on Monday. The company has a market cap of $38.33 billion and a price-to-earnings ratio of 21.13. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.56 and a quick ratio of 0.46. American Electric Power has a 1-year low of $62.71 and a 1-year high of $78.47.

American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, October 25th. The utilities provider reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.05. The business had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.26 billion. American Electric Power had a return on equity of 10.78% and a net margin of 12.14%. During the same quarter last year, the business posted $1.10 EPS. As a group, research analysts forecast that American Electric Power will post 3.96 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 9th will be issued a $0.67 dividend. This is a boost from American Electric Power’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, November 8th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.45%. American Electric Power’s payout ratio is 72.83%.

About American Electric Power

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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Analyst Recommendations for American Electric Power (NYSE:AEP)

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