Mizuho lowered shares of American Electric Power (NYSE:AEP) from a buy rating to a neutral rating in a report issued on Friday morning, Benzinga reports.
AEP has been the topic of several other reports. Zacks Investment Research raised shares of American Electric Power from a hold rating to a buy rating and set a $99.00 price target on the stock in a report on Friday. Morgan Stanley cut their price objective on shares of American Electric Power from $96.00 to $95.00 and set an equal weight rating for the company in a report on Monday, December 16th. Scotiabank raised shares of American Electric Power from a sector perform rating to a sector outperform rating and increased their price target for the company from $93.00 to $102.00 in a research note on Friday, December 20th. SunTrust Banks set a $102.00 price objective on shares of American Electric Power and gave the stock a buy rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. raised their price objective on shares of American Electric Power from $92.00 to $104.00 and gave the company an overweight rating in a report on Monday, October 14th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. American Electric Power currently has an average rating of Buy and an average price target of $97.00.
Shares of AEP opened at $93.36 on Friday. American Electric Power has a 1-year low of $72.25 and a 1-year high of $96.22. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.48 and a quick ratio of 0.36. The firm has a market capitalization of $46.16 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 3.76 and a beta of 0.07. The company’s fifty day moving average price is $92.38 and its 200-day moving average price is $91.51.
American Electric Power (NYSE:AEP) last posted its quarterly earnings results on Thursday, October 24th. The utilities provider reported $1.46 EPS for the quarter, beating the consensus estimate of $1.32 by $0.14. American Electric Power had a net margin of 13.52% and a return on equity of 11.09%. The company had revenue of $4.30 billion for the quarter, compared to analyst estimates of $5.08 billion. During the same period in the prior year, the company earned $1.26 earnings per share. As a group, research analysts anticipate that American Electric Power will post 4.18 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This is an increase from American Electric Power’s previous quarterly dividend of $0.67. This represents a $2.80 annualized dividend and a dividend yield of 3.00%. American Electric Power’s dividend payout ratio is 70.89%.
Several hedge funds have recently made changes to their positions in the company. Resources Management Corp CT ADV acquired a new stake in American Electric Power in the third quarter valued at $92,000. Metropolitan Life Insurance Co NY boosted its position in shares of American Electric Power by 0.4% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 74,834 shares of the utilities provider’s stock valued at $7,011,000 after purchasing an additional 312 shares in the last quarter. Millennium Management LLC boosted its position in shares of American Electric Power by 360.6% during the 3rd quarter. Millennium Management LLC now owns 1,234,988 shares of the utilities provider’s stock valued at $115,706,000 after purchasing an additional 966,851 shares in the last quarter. Man Group plc boosted its holdings in shares of American Electric Power by 37.2% in the third quarter. Man Group plc now owns 364,537 shares of the utilities provider’s stock worth $34,154,000 after buying an additional 98,749 shares during the period. Finally, Prestige Wealth Management Group LLC boosted its holdings in shares of American Electric Power by 195.0% in the third quarter. Prestige Wealth Management Group LLC now owns 410 shares of the utilities provider’s stock worth $38,000 after buying an additional 271 shares during the period. Institutional investors and hedge funds own 73.81% of the company’s stock.
American Electric Power Company Profile
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.
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