American Electric Power Company, Inc. (AEP) Receives Average Recommendation of “Hold” from Analysts
Shares of American Electric Power Company, Inc. (NYSE:AEP) have earned an average rating of “Hold” from the fifteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $72.11.
Several equities analysts recently weighed in on AEP shares. Zacks Investment Research upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. BidaskClub cut shares of American Electric Power from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Mizuho cut shares of American Electric Power from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $74.00 to $73.00 in a research note on Friday, September 22nd. Morgan Stanley reaffirmed an “equal weight” rating on shares of American Electric Power in a report on Monday, July 10th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $70.00 target price on shares of American Electric Power in a report on Wednesday, July 19th.
American Electric Power (NYSE AEP) opened at 70.29 on Wednesday. The company has a 50 day moving average price of $72.46 and a 200-day moving average price of $70.13. The firm has a market capitalization of $34.57 billion, a PE ratio of 60.49 and a beta of 0.28. American Electric Power has a one year low of $57.89 and a one year high of $74.59.
American Electric Power (NYSE:AEP) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.07). The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.70 billion. American Electric Power had a net margin of 3.60% and a return on equity of 10.32%. During the same quarter in the previous year, the company posted $0.95 earnings per share. On average, equities analysts predict that American Electric Power will post $3.65 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Thursday, August 10th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend was Tuesday, August 8th. American Electric Power’s dividend payout ratio (DPR) is 203.45%.
A number of institutional investors have recently modified their holdings of the stock. Ledyard National Bank lifted its holdings in American Electric Power by 52.6% during the second quarter. Ledyard National Bank now owns 1,450 shares of the utilities provider’s stock worth $101,000 after acquiring an additional 500 shares in the last quarter. Point72 Asia Hong Kong Ltd acquired a new position in American Electric Power in the first quarter valued at about $105,000. Chicago Partners Investment Group LLC grew its stake in American Electric Power by 0.3% in the first quarter. Chicago Partners Investment Group LLC now owns 1,599 shares of the utilities provider’s stock valued at $107,000 after acquiring an additional 5 shares during the period. Zions Bancorporation grew its stake in American Electric Power by 1.3% in the first quarter. Zions Bancorporation now owns 1,680 shares of the utilities provider’s stock valued at $113,000 after acquiring an additional 21 shares during the period. Finally, Thompson Davis & CO. Inc. grew its stake in American Electric Power by 0.3% in the first quarter. Thompson Davis & CO. Inc. now owns 1,741 shares of the utilities provider’s stock valued at $117,000 after acquiring an additional 6 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.
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American Electric Power Company Profile
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.
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