BidaskClub Upgrades American Electric Power Company, Inc. (AEP) to Hold

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

A number of other research firms have also weighed in on AEP. Deutsche Bank AG raised their price objective on shares of American Electric Power from $70.00 to $72.00 and gave the company a buy rating in a research note on Tuesday, April 11th. Zacks Investment Research upgraded shares of American Electric Power from a sell rating to a hold rating in a research note on Thursday, July 27th. Morgan Stanley restated 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 price target on shares of American Electric Power in a report on Wednesday, July 19th. Finally, Mizuho reaffirmed a buy rating and set a $72.50 price target on shares of American Electric Power in a report on Wednesday, April 19th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $72.17.

American Electric Power (NYSE:AEP) opened at 72.16 on Monday. The company’s 50-day moving average is $70.00 and its 200 day moving average is $68.41. American Electric Power has a 12-month low of $57.89 and a 12-month high of $72.97. The stock has a market capitalization of $35.49 billion, a PE ratio of 62.10 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 for the quarter, missing analysts’ consensus estimates of $0.82 by $0.07. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.70 billion. American Electric Power had a net margin of 3.60% and a return on equity of 10.32%. During the same quarter in the prior year, the business posted $0.95 earnings per share. On average, equities research analysts expect that American Electric Power will post $3.66 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 10th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend is Tuesday, August 8th. American Electric Power’s payout ratio is 203.45%.

Several institutional investors have recently bought and sold shares of AEP. Ledyard National Bank increased its position in American Electric Power by 52.6% in the second quarter. Ledyard National Bank now owns 1,450 shares of the utilities provider’s stock worth $101,000 after buying an additional 500 shares during the last quarter. Point72 Asia Hong Kong Ltd acquired a new position in American Electric Power during the first quarter worth about $105,000. Chicago Partners Investment Group LLC increased its position in American Electric Power by 0.3% in the first quarter. Chicago Partners Investment Group LLC now owns 1,599 shares of the utilities provider’s stock worth $107,000 after buying an additional 5 shares during the last quarter. Smithfield Trust Co. increased its position in American Electric Power by 8.1% in the second quarter. Smithfield Trust Co. now owns 1,677 shares of the utilities provider’s stock worth $117,000 after buying an additional 125 shares during the last quarter. Finally, Zions Bancorporation increased its position in American Electric Power by 1.3% in the first quarter. Zions Bancorporation now owns 1,680 shares of the utilities provider’s stock worth $113,000 after buying an additional 21 shares during the last quarter. 70.77% of the stock is currently owned by 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.

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