American Electric Power Company Inc (NYSE:AEP) has earned a consensus rating of “Buy” from the twenty-one brokerages that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $95.06.
AEP has been the topic of several research analyst reports. TheStreet upgraded American Electric Power from a “c+” rating to a “b-” rating in a research note on Tuesday, July 21st. UBS Group increased their price target on American Electric Power from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Seaport Global Securities assumed coverage on shares of American Electric Power in a report on Wednesday, May 20th. They set a “buy” rating and a $86.00 price objective on the stock. Morgan Stanley lifted their target price on shares of American Electric Power from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Finally, KeyCorp raised their price objective on shares of American Electric Power from $93.00 to $96.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement Association of Colorado increased its holdings in shares of American Electric Power by 3.3% in the first quarter. Public Employees Retirement Association of Colorado now owns 92,396 shares of the utilities provider’s stock worth $7,390,000 after buying an additional 2,929 shares during the period. Wetherby Asset Management Inc. grew its holdings in shares of American Electric Power by 12.2% in the first quarter. Wetherby Asset Management Inc. now owns 7,119 shares of the utilities provider’s stock worth $570,000 after purchasing an additional 776 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of American Electric Power by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 3,468,054 shares of the utilities provider’s stock worth $277,375,000 after purchasing an additional 70,960 shares during the last quarter. Wellington Shields Capital Management LLC increased its stake in shares of American Electric Power by 2.9% in the first quarter. Wellington Shields Capital Management LLC now owns 5,761 shares of the utilities provider’s stock worth $461,000 after buying an additional 162 shares during the period. Finally, AE Wealth Management LLC raised its holdings in American Electric Power by 1.2% during the 1st quarter. AE Wealth Management LLC now owns 41,501 shares of the utilities provider’s stock valued at $3,319,000 after buying an additional 495 shares during the last quarter. Institutional investors and hedge funds own 73.16% of the company’s stock.
NYSE:AEP traded up $0.65 during trading on Friday, reaching $80.65. The company’s stock had a trading volume of 25,417 shares, compared to its average volume of 2,405,520. American Electric Power has a 12 month low of $65.14 and a 12 month high of $104.97. The firm has a market cap of $39.86 billion, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 3.33 and a beta of 0.31. The firm has a 50 day moving average of $81.91 and a 200-day moving average of $83.00. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.30 and a current ratio of 0.42.
American Electric Power (NYSE:AEP) last posted its quarterly earnings results on Thursday, August 6th. The utilities provider reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.03. The company had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.95 billion. American Electric Power had a net margin of 12.56% and a return on equity of 10.24%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.00 earnings per share. Equities research analysts forecast that American Electric Power will post 4.32 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 10th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date was Friday, August 7th. American Electric Power’s dividend payout ratio is currently 66.04%.
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.
Further Reading: Current Ratio
Receive News & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.