Shares of American Electric Power Company, Inc. (NASDAQ:AEP – Get Free Report) have been given a consensus recommendation of “Hold” by the thirteen ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $108.31.
Several equities research analysts have issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of American Electric Power from $107.00 to $114.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 7th. Barclays upped their price target on shares of American Electric Power from $95.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 22nd. Raymond James Financial assumed coverage on shares of American Electric Power in a research report on Friday, June 13th. They issued an “outperform” rating and a $115.00 price target for the company. UBS Group boosted their price objective on shares of American Electric Power from $95.00 to $100.00 and gave the stock a “sell” rating in a research note on Friday, June 6th. Finally, BMO Capital Markets upped their price target on shares of American Electric Power from $111.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, April 21st.
Read Our Latest Stock Report on American Electric Power
American Electric Power Price Performance
American Electric Power (NASDAQ:AEP – Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.14. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. The firm had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.33 billion. During the same period in the previous year, the company earned $1.27 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities research analysts anticipate that American Electric Power will post 5.87 earnings per share for the current year.
American Electric Power Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power’s dividend payout ratio is presently 71.68%.
Insider Transactions at American Electric Power
In other American Electric Power news, EVP David Matthew Feinberg sold 8,057 shares of the business’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $102.94, for a total transaction of $829,387.58. Following the transaction, the executive vice president now owns 26,298 shares of the company’s stock, valued at approximately $2,707,116.12. The trade was a 23.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Quinton S. Lies sold 10,141 shares of the business’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $102.68, for a total value of $1,041,277.88. Following the transaction, the executive vice president now directly owns 9,658 shares in the company, valued at $991,683.44. This trade represents a 51.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,314 shares of company stock valued at $3,508,293 over the last ninety days. Insiders own 0.07% of the company’s stock.
Institutional Investors Weigh In On American Electric Power
Several institutional investors and hedge funds have recently modified their holdings of AEP. Nuveen LLC acquired a new position in shares of American Electric Power during the 1st quarter worth about $568,042,000. GQG Partners LLC lifted its holdings in shares of American Electric Power by 30.4% in the 1st quarter. GQG Partners LLC now owns 19,631,466 shares of the company’s stock valued at $2,145,130,000 after buying an additional 4,570,941 shares during the period. Wellington Management Group LLP increased its stake in American Electric Power by 24.3% in the 1st quarter. Wellington Management Group LLP now owns 22,102,537 shares of the company’s stock valued at $2,415,144,000 after purchasing an additional 4,323,569 shares in the last quarter. Raymond James Financial Inc. purchased a new position in American Electric Power in the 4th quarter valued at approximately $220,983,000. Finally, Lazard Asset Management LLC increased its stake in American Electric Power by 51.0% in the 4th quarter. Lazard Asset Management LLC now owns 6,416,474 shares of the company’s stock valued at $591,791,000 after purchasing an additional 2,165,888 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.
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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.
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