American Electric Power Co. (NYSE:AEP) had its price objective cut by research analysts at Citigroup Inc. from $69.00 to $66.00 in a research note issued on Tuesday, StockTargetPrices.com reports. The brokerage currently has a “neutral” rating on the stock. Citigroup Inc.’s price target would suggest a potential upside of 3.92% from the company’s previous close.
AEP has been the topic of a number of other research reports. SunTrust Banks Inc. boosted their target price on shares of American Electric Power from $74.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 26th. Zacks Investment Research downgraded shares of American Electric Power from a “buy” rating to a “hold” rating in a report on Wednesday, September 14th. Morgan Stanley restated a “hold” rating on shares of American Electric Power in a report on Wednesday, June 15th. KeyCorp restated an “outperform” rating and set a $72.50 price objective (up previously from $69.00) on shares of American Electric Power in a report on Saturday, July 2nd. Finally, Barclays PLC upped their price objective on shares of American Electric Power from $75.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, July 29th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $67.39.
Shares of American Electric Power (NYSE:AEP) traded down 1.97% during trading on Tuesday, reaching $62.26. The company had a trading volume of 1,872,741 shares. The firm has a market capitalization of $30.61 billion, a P/E ratio of 15.37 and a beta of 0.23. The firm’s 50 day moving average price is $65.41 and its 200 day moving average price is $66.26. American Electric Power has a 12 month low of $53.30 and a 12 month high of $71.32.
American Electric Power (NYSE:AEP) last released its earnings results on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the company earned $0.88 EPS. American Electric Power’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities analysts predict that American Electric Power will post $3.69 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Wednesday, August 10th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.53%. American Electric Power’s payout ratio is currently 55.17%.
A number of institutional investors have recently bought and sold shares of AEP. FMR LLC raised its position in American Electric Power by 72.8% in the second quarter. FMR LLC now owns 9,114,402 shares of the company’s stock valued at $638,828,000 after buying an additional 3,840,681 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of American Electric Power during the second quarter worth $261,970,000. State Street Corp raised its position in shares of American Electric Power by 7.5% in the first quarter. State Street Corp now owns 25,117,238 shares of the company’s stock worth $1,667,787,000 after buying an additional 1,758,073 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new position in shares of American Electric Power during the first quarter worth $84,599,000. Finally, Renaissance Technologies LLC raised its position in shares of American Electric Power by 64.3% in the first quarter. Renaissance Technologies LLC now owns 2,332,500 shares of the company’s stock worth $154,878,000 after buying an additional 912,500 shares in the last quarter. Institutional investors 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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