American Electric Power Co. (NYSE:AEP) had its price objective increased by SunTrust Banks Inc. from $74.00 to $76.00 in a research note published on Monday. SunTrust Banks Inc. currently has a buy rating on the stock.
A number of other brokerages also recently issued reports on AEP. Zacks Investment Research downgraded shares of American Electric Power from a hold rating to a sell rating in a research report on Tuesday, July 12th. KeyCorp reaffirmed an outperform rating and issued a $72.50 price objective (up from $69.00) on shares of American Electric Power in a research report on Saturday, July 2nd. Goldman Sachs Group Inc. raised shares of American Electric Power from a neutral rating to a buy rating and increased their target price for the company from $71.00 to $73.00 in a research report on Tuesday, July 26th. Citigroup Inc. increased their target price on shares of American Electric Power from $61.00 to $68.00 and gave the company a neutral rating in a research report on Wednesday, July 20th. Finally, Hilliard Lyons downgraded shares of American Electric Power from a buy rating to a hold rating in a research report on Friday, July 29th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $67.61.
American Electric Power (NYSE:AEP) opened at 65.36 on Monday. The company has a market capitalization of $32.14 billion, a PE ratio of 16.13 and a beta of 0.24. The company has a 50-day moving average of $65.71 and a 200-day moving average of $66.27. American Electric Power has a 52 week low of $53.30 and a 52 week high of $71.32.
American Electric Power (NYSE:AEP) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.05. American Electric Power had a net margin of 12.50% and a return on equity of 9.54%. The business earned $3.90 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the firm posted $0.88 EPS. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts anticipate that American Electric Power will post $3.69 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Wednesday, August 10th were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.43%. American Electric Power’s dividend payout ratio is presently 55.17%.
Hedge funds have recently bought and sold shares of the company. Brick & Kyle Associates boosted its stake in American Electric Power by 18.7% in the second quarter. Brick & Kyle Associates now owns 1,430 shares of the company’s stock valued at $100,000 after buying an additional 225 shares in the last quarter. Jackson Grant Investment Advisers Inc. boosted its stake in American Electric Power by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,447 shares of the company’s stock valued at $101,000 after buying an additional 12 shares in the last quarter. Van ECK Associates Corp purchased a new stake in American Electric Power during the second quarter valued at about $104,000. Krilogy Financial LLC boosted its stake in American Electric Power by 105.2% in the second quarter. Krilogy Financial LLC now owns 1,531 shares of the company’s stock valued at $107,000 after buying an additional 785 shares in the last quarter. Finally, Wealthcare Capital Management LLC purchased a new stake in American Electric Power during the second quarter valued at about $108,000. Institutional investors and hedge funds own 68.74% of the company’s stock.
About American Electric Power
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 Company’s segments include Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing.
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