Shares of American Electric Power Company Inc (NYSE:AEP) have been assigned an average rating of “Buy” from the twenty-one research firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $94.59.
AEP has been the topic of several research reports. Citigroup lowered their target price on American Electric Power from $101.00 to $82.00 and set a “neutral” rating on the stock in a research note on Thursday, April 2nd. Royal Bank of Canada reiterated a “buy” rating and issued a $92.00 price target on shares of American Electric Power in a research report on Wednesday, April 8th. Bank of America cut American Electric Power from a “buy” rating to a “neutral” rating and set a $80.00 price target for the company. in a research report on Friday, May 15th. Seaport Global Securities initiated coverage on American Electric Power in a research report on Wednesday, May 20th. They issued a “buy” rating and a $86.00 price target for the company. Finally, Mizuho reiterated a “hold” rating and issued a $76.00 price target on shares of American Electric Power in a research report on Tuesday, April 7th.
In other news, CEO Nicholas K. Akins sold 16,519 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $81.90, for a total value of $1,352,906.10. Following the completion of the transaction, the chief executive officer now directly owns 134,743 shares in the company, valued at approximately $11,035,451.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark C. Mccullough sold 2,244 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $81.19, for a total value of $182,190.36. Following the completion of the transaction, the executive vice president now owns 10,530 shares of the company’s stock, valued at $854,930.70. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of AEP. Atria Investments LLC lifted its stake in shares of American Electric Power by 14.7% in the 4th quarter. Atria Investments LLC now owns 54,592 shares of the utilities provider’s stock valued at $5,160,000 after acquiring an additional 6,996 shares during the last quarter. LNZ Capital LP bought a new stake in shares of American Electric Power in the 4th quarter valued at about $23,032,000. Bank of New York Mellon Corp lifted its stake in shares of American Electric Power by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 3,397,094 shares of the utilities provider’s stock valued at $321,059,000 after acquiring an additional 88,526 shares during the last quarter. OPSEU Pension Plan Trust Fund bought a new stake in shares of American Electric Power in the 1st quarter valued at about $2,106,000. Finally, Capital Asset Advisory Services LLC bought a new stake in shares of American Electric Power in the 4th quarter valued at about $420,000. Hedge funds and other institutional investors own 74.60% of the company’s stock.
Shares of AEP opened at $79.57 on Tuesday. The firm has a market cap of $38.66 billion, a PE ratio of 21.33, a PEG ratio of 3.18 and a beta of 0.39. The stock’s fifty day moving average price is $81.25 and its two-hundred day moving average price is $88.83. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.45 and a quick ratio of 0.35. American Electric Power has a 1 year low of $65.14 and a 1 year high of $104.97.
American Electric Power (NYSE:AEP) last issued its earnings results on Wednesday, May 6th. The utilities provider reported $1.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by ($0.07). The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.26 billion. American Electric Power had a net margin of 12.08% and a return on equity of 10.15%. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.19 earnings per share. Sell-side analysts anticipate that American Electric Power will post 4.24 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend was Thursday, May 7th. American Electric Power’s payout ratio is 66.04%.
American Electric Power Company Profile
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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