American Electric Power (NYSE:AEP) PT Raised to $90.00 at Mizuho

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

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

NYSE AEP opened at $93.02 on Monday. The company has a current ratio of 0.49, a quick ratio of 0.36 and a debt-to-equity ratio of 1.29. The company has a fifty day simple moving average of $90.49 and a 200 day simple moving average of $87.39. The company has a market cap of $45.20 billion, a P/E ratio of 23.55, a P/E/G ratio of 3.91 and a beta of 0.10. American Electric Power has a 1 year low of $68.92 and a 1 year high of $93.23.

American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.02. The business had revenue of $3.60 billion during 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%. American Electric Power’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 EPS. Equities research analysts forecast that American Electric Power will post 4.14 EPS for the current fiscal year.

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

In other news, insider Charles E. Zebula sold 1,216 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 7,420 shares in the company, valued at approximately $675,071.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Brian X. Tierney sold 4,458 shares of the stock in a transaction 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 transaction, the vice president now owns 39,745 shares of the company’s stock, valued at approximately $3,566,318.85. The disclosure for this sale can be found here. 0.16% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. Princeton Global Asset Management LLC increased its position in shares of American Electric Power by 46.0% during the 2nd quarter. Princeton Global Asset Management LLC now owns 6,879 shares of the utilities provider’s stock worth $605,000 after purchasing an additional 2,166 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of American Electric Power by 69.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 155,892 shares of the utilities provider’s stock worth $13,720,000 after purchasing an additional 63,799 shares in the last quarter. Boston Partners increased its position in shares of American Electric Power by 8.8% during the 2nd quarter. Boston Partners now owns 1,055,430 shares of the utilities provider’s stock worth $92,902,000 after purchasing an additional 85,469 shares in the last quarter. Atria Investments LLC increased its position in shares of American Electric Power by 619.2% during the 2nd quarter. Atria Investments LLC now owns 44,121 shares of the utilities provider’s stock worth $3,984,000 after purchasing an additional 37,986 shares in the last quarter. Finally, Keudell Morrison Wealth Management increased its position in shares of American Electric Power by 879.4% during the 2nd quarter. Keudell Morrison Wealth Management now owns 27,903 shares of the utilities provider’s stock worth $2,456,000 after purchasing an additional 25,054 shares in 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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