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.

AEP has been the subject of several other reports. J P Morgan Chase & Co boosted their target price on shares of American Electric Power to $75.00 and gave the company a neutral rating in a research report on Thursday, October 12th. Royal Bank Of Canada reiterated a hold rating and set a $71.00 price objective on shares of American Electric Power in a research report on Wednesday, August 2nd. Deutsche Bank AG cut shares of American Electric Power from a buy rating to a hold rating in a research report on Tuesday, October 17th. Morgan Stanley increased their target price on shares of American Electric Power from $71.00 to $73.00 and gave the stock an equal weight rating in a research note on Thursday, August 10th. Finally, BMO Capital Markets restated an outperform rating and set a $75.00 price objective (up previously from $73.00) on shares of American Electric Power in a report on Friday, July 28th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $73.91.

American Electric Power (NYSE AEP) traded up $0.17 during midday trading on Tuesday, reaching $76.76. 1,750,100 shares of the company’s stock were exchanged, compared to its average volume of 2,324,595. The company has a market cap of $37,580.00, a P/E ratio of 22.01, a P/E/G ratio of 4.46 and a beta of 0.29. The company has a quick ratio of 0.43, a current ratio of 0.56 and a debt-to-equity ratio of 1.01. American Electric Power has a 52-week low of $57.89 and a 52-week high of $77.93.

American Electric Power (NYSE:AEP) last issued its earnings results on Thursday, October 26th. The utilities provider reported $1.10 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.06). The firm had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.42 billion. American Electric Power had a net margin of 12.21% and a return on equity of 9.67%. American Electric Power’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.30 earnings per share. research analysts forecast that American Electric Power will post 3.61 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Thursday, November 9th. This is an increase from American Electric Power’s previous quarterly dividend of $0.59. American Electric Power’s dividend payout ratio (DPR) is 64.75%.

A number of hedge funds and other institutional investors have recently bought and sold shares of AEP. Capital Research Global Investors boosted its position in American Electric Power by 223.4% during the second quarter. Capital Research Global Investors now owns 10,110,731 shares of the utilities provider’s stock worth $702,392,000 after purchasing an additional 6,983,864 shares during the period. JPMorgan Chase & Co. boosted its position in American Electric Power by 70.2% during the third quarter. JPMorgan Chase & Co. now owns 6,696,615 shares of the utilities provider’s stock worth $472,110,000 after purchasing an additional 2,762,164 shares during the period. Wells Fargo & Company MN boosted its position in American Electric Power by 29.1% during the third quarter. Wells Fargo & Company MN now owns 10,029,371 shares of the utilities provider’s stock worth $704,464,000 after purchasing an additional 2,260,303 shares during the period. APG Asset Management N.V. boosted its position in American Electric Power by 153.2% during the third quarter. APG Asset Management N.V. now owns 3,376,206 shares of the utilities provider’s stock worth $237,145,000 after purchasing an additional 2,042,700 shares during the period. Finally, Epoch Investment Partners Inc. bought a new position in American Electric Power during the second quarter worth about $122,927,000. Institutional investors and hedge funds own 71.37% 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.

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Analyst Recommendations for American Electric Power (NYSE:AEP)

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