ValuEngine upgraded shares of American Electric Power Company, Inc. (NYSE:AEP) from a hold rating to a buy rating in a research note published on Tuesday morning.
A number of other brokerages have also recently issued reports on AEP. Royal Bank Of Canada restated a hold rating and set a $74.00 target price on shares of American Electric Power in a report on Monday, October 30th. Bank of America Corporation assumed coverage on American Electric Power in a report on Tuesday, October 24th. They set a buy rating and a $79.00 target price on the stock. Morgan Stanley restated an equal weight rating on shares of American Electric Power in a report on Friday, September 8th. KeyCorp restated a buy rating and set a $73.00 target price on shares of American Electric Power in a report on Friday, September 1st. Finally, Deutsche Bank AG cut American Electric Power from a buy rating to a hold rating in a report on Tuesday, October 17th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company. American Electric Power presently has an average rating of Hold and a consensus price target of $73.91.
Shares of American Electric Power (NYSE AEP) opened at $76.38 on Tuesday. The company has a quick ratio of 0.43, a current ratio of 0.56 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $37,760.00, a PE ratio of 22.24, a P/E/G ratio of 4.50 and a beta of 0.29. American Electric Power has a 12-month low of $57.89 and a 12-month high of $77.93.
American Electric Power (NYSE:AEP) last announced its quarterly earnings data on Thursday, October 26th. The utilities provider reported $1.10 EPS for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.06). American Electric Power had a return on equity of 9.67% and a net margin of 12.21%. The firm had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same quarter in the previous year, the business earned $1.30 earnings per share. American Electric Power’s revenue for the quarter was down 12.8% compared to the same quarter last year. analysts anticipate that American Electric Power will post 3.62 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 10th will be given a dividend of $0.62 per share. This is a positive change from American Electric Power’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, November 9th. This represents a $2.48 annualized dividend and a dividend yield of 3.25%. American Electric Power’s payout ratio is 64.75%.
Several large investors have recently bought and sold shares of AEP. Fiduciary Trust Co. increased its position in shares of American Electric Power by 52.5% during the 1st quarter. Fiduciary Trust Co. now owns 104,739 shares of the utilities provider’s stock worth $7,031,000 after purchasing an additional 36,044 shares during the last quarter. Brookfield Asset Management Inc. acquired a new position in shares of American Electric Power during the 1st quarter worth approximately $56,864,000. Flagship Harbor Advisors LLC increased its holdings in shares of American Electric Power by 1.2% during the 1st quarter. Flagship Harbor Advisors LLC now owns 3,817 shares of the utilities provider’s stock worth $258,000 after acquiring an additional 46 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of American Electric Power by 3.1% during the 1st quarter. HighTower Advisors LLC now owns 94,976 shares of the utilities provider’s stock worth $6,373,000 after acquiring an additional 2,861 shares during the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in shares of American Electric Power by 13.2% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 9,623 shares of the utilities provider’s stock worth $646,000 after acquiring an additional 1,123 shares during the last quarter. 71.37% of the stock is currently owned by hedge funds and other institutional investors.
American Electric Power Company Profile
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 service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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