BidaskClub upgraded shares of American Electric Power Company, Inc. (NYSE:AEP) from a sell rating to a hold rating in a report issued on Monday, July 31st.

Several other research firms have also recently issued reports on AEP. Deutsche Bank AG raised their price objective on shares of American Electric Power from $70.00 to $72.00 and gave the stock a buy rating in a research report on Tuesday, April 11th. Zacks Investment Research raised shares of American Electric Power from a sell rating to a hold rating in a research note on Thursday, July 27th. Morgan Stanley reaffirmed an equal weight rating on shares of American Electric Power in a research note on Monday, July 10th. Jefferies Group LLC reaffirmed a hold rating and set a $70.00 target price on shares of American Electric Power in a research note on Wednesday, July 19th. Finally, Mizuho reaffirmed a buy rating and set a $72.50 target price on shares of American Electric Power in a research note on Wednesday, April 19th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $72.17.

Shares of American Electric Power (AEP) traded down 1.12% during trading on Monday, hitting $70.56. The stock had a trading volume of 2,007,613 shares. The stock has a 50 day moving average of $69.86 and a 200 day moving average of $68.09. American Electric Power has a 52-week low of $57.89 and a 52-week high of $72.97. The firm has a market cap of $34.70 billion, a PE ratio of 60.72 and a beta of 0.30.

American Electric Power (NYSE:AEP) last released its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by $0.07. American Electric Power had a return on equity of 10.32% and a net margin of 3.60%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the previous year, the business posted $0.95 earnings per share. On average, equities analysts anticipate that American Electric Power will post $3.66 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 10th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $2.36 annualized dividend and a yield of 3.34%. American Electric Power’s dividend payout ratio is currently 203.45%.

In other American Electric Power news, insider Paul Chodak III sold 1,110 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $68.20, for a total transaction of $75,702.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.15% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board raised its stake in American Electric Power by 21.0% in the second quarter. Ontario Teachers Pension Plan Board now owns 153,823 shares of the utilities provider’s stock valued at $10,686,000 after buying an additional 26,706 shares in the last quarter. Veritable L.P. increased its position in shares of American Electric Power by 1.7% in the second quarter. Veritable L.P. now owns 19,031 shares of the utilities provider’s stock valued at $1,322,000 after buying an additional 313 shares during the last quarter. Epoch Investment Partners Inc. purchased a new position in shares of American Electric Power during the second quarter valued at $122,927,000. Dimensional Fund Advisors LP increased its position in shares of American Electric Power by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 876,420 shares of the utilities provider’s stock valued at $60,886,000 after buying an additional 13,049 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its position in shares of American Electric Power by 29.0% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 138,224 shares of the utilities provider’s stock valued at $9,602,000 after buying an additional 31,084 shares during the last quarter. Institutional investors and hedge funds own 70.83% of the company’s stock.

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 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.

Analyst Recommendations for American Electric Power (NYSE:AEP)

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