American Electric Power Company, Inc. (NYSE:AEP) – Research analysts at SunTrust Banks lifted their Q3 2017 earnings per share estimates for American Electric Power in a report issued on Thursday. SunTrust Banks analyst A. Agha now expects that the utilities provider will earn $1.26 per share for the quarter, up from their prior forecast of $1.19. SunTrust Banks also issued estimates for American Electric Power’s Q4 2017 earnings at $0.68 EPS, Q1 2018 earnings at $1.01 EPS, Q4 2018 earnings at $0.71 EPS, Q1 2019 earnings at $1.08 EPS and Q2 2019 earnings at $0.87 EPS.
American Electric Power (NYSE:AEP) last posted its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by $0.07. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.70 billion. American Electric Power had a return on equity of 10.32% and a net margin of 3.60%. During the same period in the prior year, the business earned $0.95 EPS.
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Other analysts have also issued reports about the stock. Goldman Sachs Group, Inc. (The) lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $68.00 to $70.00 in a research note on Monday, June 26th. Jefferies Group LLC upped their price target on American Electric Power from $68.00 to $70.00 and gave the company a “hold” rating in a report on Friday, April 28th. BidaskClub downgraded American Electric Power from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Zacks Investment Research downgraded American Electric Power from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $75.00 price target (up from $73.00) on shares of American Electric Power in a report on Friday. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $72.00.
American Electric Power (NYSE AEP) opened at 70.54 on Monday. The stock has a market cap of $34.69 billion, a P/E ratio of 60.71 and a beta of 0.30. The company has a 50-day moving average of $70.12 and a 200 day moving average of $67.68. American Electric Power has a 1-year low of $57.89 and a 1-year high of $72.97.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 10th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $2.36 annualized dividend and a dividend yield of 3.35%. American Electric Power’s payout ratio is 203.45%.
In related news, insider Paul Chodak III sold 1,110 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $68.20, for a total transaction of $75,702.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.15% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of American Electric Power by 3.4% in the first quarter. Vanguard Group Inc. now owns 34,128,589 shares of the utilities provider’s stock worth $2,291,051,000 after buying an additional 1,124,366 shares during the last quarter. BlackRock Inc. raised its stake in shares of American Electric Power by 2,394.3% in the first quarter. BlackRock Inc. now owns 33,819,821 shares of the utilities provider’s stock worth $2,270,326,000 after buying an additional 32,463,953 shares during the last quarter. State Street Corp raised its stake in shares of American Electric Power by 0.6% in the first quarter. State Street Corp now owns 25,061,133 shares of the utilities provider’s stock worth $1,682,343,000 after buying an additional 153,485 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of American Electric Power by 16.2% in the first quarter. Wells Fargo & Company MN now owns 7,668,864 shares of the utilities provider’s stock worth $514,810,000 after buying an additional 1,069,388 shares during the last quarter. Finally, Pioneer Investment Management Inc. raised its stake in shares of American Electric Power by 14.2% in the first quarter. Pioneer Investment Management Inc. now owns 4,719,353 shares of the utilities provider’s stock worth $316,810,000 after buying an additional 585,220 shares during the last quarter. Institutional investors own 70.54% of the company’s stock.
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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