American Electric Power Co. (AEP) PT Lowered to $66.00
American Electric Power Co. (NYSE:AEP) had its price target dropped by research analysts at Citigroup Inc. from $69.00 to $66.00 in a research note issued on Tuesday. The firm currently has a “neutral” rating on the stock. Citigroup Inc.’s price target suggests a potential upside of 3.92% from the stock’s current price.
AEP has been the subject of several other reports. SunTrust Banks Inc. lifted their price target on American Electric Power from $74.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 26th. Jefferies Group lifted their price target on American Electric Power from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, June 17th. Hilliard Lyons cut American Electric Power from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Barclays PLC lifted their price target on American Electric Power from $75.00 to $77.00 and gave the company an “overweight” rating in a research report on Friday, July 29th. Finally, Goldman Sachs Group Inc. upgraded American Electric Power from a “neutral” rating to a “buy” rating and lifted their price target for the company from $71.00 to $73.00 in a research report on Tuesday, July 26th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $67.39.
Shares of American Electric Power (NYSE:AEP) traded down 1.97% on Tuesday, hitting $62.26. 1,872,741 shares of the stock were exchanged. The stock has a market cap of $30.61 billion, a price-to-earnings ratio of 15.37 and a beta of 0.23. American Electric Power has a 1-year low of $53.30 and a 1-year high of $71.32. The stock’s 50-day moving average is $65.41 and its 200-day moving average is $66.26.
American Electric Power (NYSE:AEP) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. American Electric Power had a return on equity of 9.54% and a net margin of 12.50%. The firm earned $3.90 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period last year, the business posted $0.88 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts forecast that American Electric Power will post $3.69 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 10th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.53%. American Electric Power’s dividend payout ratio is presently 55.17%.
Several hedge funds have recently modified their holdings of AEP. Brick & Kyle Associates raised its stake in shares of American Electric Power by 18.7% in the second quarter. Brick & Kyle Associates now owns 1,430 shares of the company’s stock worth $100,000 after buying an additional 225 shares in the last quarter. Jackson Grant Investment Advisers Inc. increased its position in shares of American Electric Power by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,447 shares of the company’s stock worth $101,000 after buying an additional 12 shares during the last quarter. Van ECK Associates Corp bought a new position in shares of American Electric Power during the second quarter worth approximately $104,000. Krilogy Financial LLC increased its position in shares of American Electric Power by 105.2% in the second quarter. Krilogy Financial LLC now owns 1,531 shares of the company’s stock worth $107,000 after buying an additional 785 shares during the last quarter. Finally, Wealthcare Capital Management LLC bought a new position in shares of American Electric Power during the second quarter worth approximately $108,000. 68.74% of the stock is currently owned by hedge funds and other institutional investors.
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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