American Electric Power (NASDAQ:AEP) PT Lowered to $94.00 at Morgan Stanley

American Electric Power (NASDAQ:AEPFree Report) had its price target reduced by Morgan Stanley from $98.00 to $94.00 in a research note published on Monday, Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

AEP has been the topic of several other reports. StockNews.com raised shares of American Electric Power from a sell rating to a hold rating in a report on Tuesday, May 7th. Scotiabank lifted their price target on shares of American Electric Power from $86.00 to $90.00 and gave the stock a sector outperform rating in a report on Wednesday, May 1st. Wells Fargo & Company lifted their price target on shares of American Electric Power from $84.00 to $89.00 and gave the stock an equal weight rating in a report on Wednesday, May 1st. Cfra reissued a buy rating and set a $92.00 price objective (up from $90.00) on shares of American Electric Power in a report on Tuesday, February 27th. Finally, Barclays boosted their price objective on shares of American Electric Power from $84.00 to $88.00 and gave the company an equal weight rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, American Electric Power presently has an average rating of Hold and an average price target of $88.62.

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American Electric Power Stock Performance

Shares of AEP stock opened at $88.14 on Monday. The firm has a market cap of $46.46 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 2.61 and a beta of 0.53. The company’s 50 day moving average is $88.20 and its 200 day moving average is $83.92. The company has a quick ratio of 0.37, a current ratio of 0.54 and a debt-to-equity ratio of 1.50. American Electric Power has a 52-week low of $69.38 and a 52-week high of $93.44.

American Electric Power (NASDAQ:AEPGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.02. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The company had revenue of $5 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same period last year, the company posted $1.11 earnings per share. American Electric Power’s revenue was up 6.4% compared to the same quarter last year. On average, sell-side analysts anticipate that American Electric Power will post 5.58 EPS for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a yield of 3.99%. American Electric Power’s dividend payout ratio is presently 65.31%.

Insider Activity at American Electric Power

In related news, EVP Antonio P. Smyth sold 4,898 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total transaction of $440,820.00. Following the completion of the transaction, the executive vice president now directly owns 6,446 shares in the company, valued at $580,140. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Antonio P. Smyth sold 4,898 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total transaction of $440,820.00. Following the completion of the transaction, the executive vice president now directly owns 6,446 shares in the company, valued at $580,140. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Greg B. Hall sold 5,880 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $88.25, for a total transaction of $518,910.00. Following the transaction, the executive vice president now owns 6,385 shares of the company’s stock, valued at $563,476.25. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AEP. FMR LLC raised its position in shares of American Electric Power by 24.8% in the third quarter. FMR LLC now owns 639,933 shares of the company’s stock worth $48,136,000 after acquiring an additional 127,047 shares during the period. Dark Forest Capital Management LP raised its position in shares of American Electric Power by 30.7% during the 3rd quarter. Dark Forest Capital Management LP now owns 4,752 shares of the company’s stock worth $357,000 after purchasing an additional 1,117 shares during the last quarter. Algert Global LLC acquired a new position in shares of American Electric Power during the 3rd quarter worth about $240,000. Natixis Advisors L.P. raised its position in shares of American Electric Power by 25.5% during the 3rd quarter. Natixis Advisors L.P. now owns 339,453 shares of the company’s stock worth $25,534,000 after purchasing an additional 68,906 shares during the last quarter. Finally, Operose Advisors LLC raised its position in shares of American Electric Power by 178.1% during the 3rd quarter. Operose Advisors LLC now owns 1,001 shares of the company’s stock worth $75,000 after purchasing an additional 641 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

About American Electric Power

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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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.

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Analyst Recommendations for American Electric Power (NASDAQ:AEP)

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