American Electric Power (NYSE:AEP) had its target price increased by Mizuho from $85.00 to $90.00 in a research note published on Monday morning, The Fly reports. The firm currently has a neutral rating on the utilities provider’s stock.

A number of other brokerages also recently issued reports on AEP. Morgan Stanley reduced their price objective on shares of American Electric Power from $93.00 to $91.00 and set an equal weight rating on the stock in a research note on Friday, August 16th. KeyCorp started coverage on shares of American Electric Power in a research note on Tuesday, June 4th. They set a sector weight rating on the stock. SunTrust Banks increased their price objective on shares of American Electric Power from $98.00 to $99.00 and gave the stock a buy rating in a research note on Monday, August 12th. Zacks Investment Research upgraded shares of American Electric Power from a sell rating to a hold rating and set a $96.00 price objective on the stock in a research note on Thursday, July 11th. Finally, UBS Group increased their price objective on shares of American Electric Power from $94.00 to $100.00 and gave the stock a buy rating in a research note on Friday, July 12th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $91.45.

Shares of American Electric Power stock opened at $93.18 on Monday. The company has a market capitalization of $45.79 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 3.96 and a beta of 0.11. The company has a quick ratio of 0.36, a current ratio of 0.49 and a debt-to-equity ratio of 1.29. American Electric Power has a 12-month low of $68.92 and a 12-month high of $93.38. The firm’s 50-day moving average price is $90.58 and its two-hundred day moving average price is $87.45.

American Electric Power (NYSE:AEP) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $4.13 billion. American Electric Power had a net margin of 12.53% and a return on equity of 10.69%. The business’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 earnings per share. On average, sell-side analysts expect that American Electric Power will post 4.14 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $0.67 dividend. The ex-dividend date was Thursday, August 8th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.88%. American Electric Power’s payout ratio is currently 67.85%.

In other news, insider Charles E. Zebula sold 1,216 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $90.98, for a total value of $110,631.68. Following the sale, the insider now directly owns 7,420 shares in the company, valued at approximately $675,071.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Brian X. Tierney sold 4,458 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $89.73, for a total transaction of $400,016.34. Following the completion of the sale, the vice president now owns 39,745 shares in the company, valued at $3,566,318.85. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of AEP. IMA Wealth Inc. acquired a new stake in shares of American Electric Power in the 2nd quarter valued at approximately $30,000. JJJ Advisors Inc. bought a new position in American Electric Power in the 2nd quarter valued at approximately $31,000. Glassman Wealth Services raised its holdings in American Electric Power by 138.0% in the 1st quarter. Glassman Wealth Services now owns 388 shares of the utilities provider’s stock valued at $32,000 after buying an additional 225 shares during the last quarter. Weaver Consulting Group bought a new position in American Electric Power in the 1st quarter valued at approximately $32,000. Finally, Tarbox Family Office Inc. raised its holdings in American Electric Power by 38.9% in the 2nd quarter. Tarbox Family Office Inc. now owns 436 shares of the utilities provider’s stock valued at $38,000 after buying an additional 122 shares during the last quarter. Institutional investors own 73.76% of the company’s stock.

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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