American Electric Power (NYSE:AEP) had its price objective boosted by Morgan Stanley from $87.00 to $88.00 in a report published on Thursday morning, BenzingaRatingsTable reports. The firm currently has an equal weight rating on the utilities provider’s stock.
AEP has been the subject of a number of other reports. Zacks Investment Research lowered shares of American Electric Power from a hold rating to a sell rating in a research report on Wednesday, January 23rd. JPMorgan Chase & Co. upgraded shares of American Electric Power from a neutral rating to an overweight rating and upped their target price for the stock from $78.00 to $88.00 in a research report on Tuesday, March 12th. Goldman Sachs Group lowered shares of American Electric Power from a buy rating to a neutral rating and set a $78.00 target price for the company. in a research report on Monday, April 8th. UBS Group upped their target price on shares of American Electric Power from $89.00 to $94.00 and gave the stock a buy rating in a research report on Thursday, May 9th. Finally, Wells Fargo & Co upped their target price on shares of American Electric Power from $89.00 to $93.00 and gave the stock an outperform rating in a research report on Friday, April 26th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $81.63.
Shares of AEP traded up $0.32 during mid-day trading on Thursday, reaching $85.72. The stock had a trading volume of 68,637 shares, compared to its average volume of 2,152,415. The firm has a market cap of $41.95 billion, a P/E ratio of 21.72, a PEG ratio of 3.65 and a beta of 0.17. American Electric Power has a 12 month low of $62.71 and a 12 month high of $86.54. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.49 and a quick ratio of 0.37.
American Electric Power (NYSE:AEP) last posted its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.09. The business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.23 billion. American Electric Power had a net margin of 12.64% and a return on equity of 10.81%. The company’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 earnings per share. Equities analysts anticipate that American Electric Power will post 4.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a dividend of $0.67 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.13%. American Electric Power’s dividend payout ratio is 67.85%.
In other American Electric Power news, EVP David Matthew Feinberg sold 4,535 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $85.72, for a total transaction of $388,740.20. Following the completion of the transaction, the executive vice president now owns 9,674 shares in the company, valued at $829,255.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nicholas K. Akins sold 11,152 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $84.94, for a total transaction of $947,250.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,582 shares of company stock valued at $1,842,763. 0.16% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc raised its stake in shares of American Electric Power by 1.6% in the third quarter. Vanguard Group Inc now owns 37,558,524 shares of the utilities provider’s stock valued at $2,662,148,000 after acquiring an additional 584,608 shares during the period. BlackRock Inc. raised its stake in shares of American Electric Power by 3.9% in the fourth quarter. BlackRock Inc. now owns 36,683,081 shares of the utilities provider’s stock valued at $2,741,691,000 after acquiring an additional 1,381,916 shares during the period. Geode Capital Management LLC raised its stake in shares of American Electric Power by 7.5% in the first quarter. Geode Capital Management LLC now owns 6,386,755 shares of the utilities provider’s stock valued at $533,886,000 after acquiring an additional 444,498 shares during the period. Northern Trust Corp raised its stake in shares of American Electric Power by 4.2% in the fourth quarter. Northern Trust Corp now owns 5,951,102 shares of the utilities provider’s stock valued at $444,784,000 after acquiring an additional 241,872 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of American Electric Power by 1.4% in the fourth quarter. Jennison Associates LLC now owns 4,597,759 shares of the utilities provider’s stock valued at $343,637,000 after acquiring an additional 63,019 shares during the period. Institutional investors and hedge funds own 73.99% of the company’s stock.
American Electric Power Company Profile
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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