American Electric Power (AEP) Downgraded by ValuEngine to “Hold”

ValuEngine lowered shares of American Electric Power (NYSE:AEP) from a buy rating to a hold rating in a research note published on Tuesday morning.

Several other equities analysts have also recently issued reports on AEP. Jefferies Group reiterated a hold rating and set a $73.00 price target on shares of American Electric Power in a research report on Tuesday, October 3rd. Bank of America assumed coverage on shares of American Electric Power in a research note on Tuesday, October 24th. They set a buy rating and a $79.00 price objective on the stock. Deutsche Bank lowered shares of American Electric Power from a buy rating to a hold rating in a research note on Tuesday, October 17th. JPMorgan Chase & Co. boosted their price objective on shares of American Electric Power to $75.00 and gave the stock a neutral rating in a research note on Thursday, October 12th. Finally, Mizuho lowered shares of American Electric Power from a buy rating to a neutral rating and dropped their price objective for the stock from $74.00 to $73.00 in a research note on Friday, September 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. American Electric Power currently has a consensus rating of Hold and an average price target of $74.82.

Shares of American Electric Power (NYSE AEP) traded down $0.66 during midday trading on Tuesday, hitting $72.99. 1,077,967 shares of the company traded hands, compared to its average volume of 2,315,521. American Electric Power has a one year low of $61.82 and a one year high of $78.07. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.56 and a quick ratio of 0.43. The stock has a market capitalization of $36,227.36, a PE ratio of 19.11, a P/E/G ratio of 4.29 and a beta of 0.30.

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

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 10th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $2.48 annualized dividend and a yield of 3.40%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.59. American Electric Power’s payout ratio is presently 64.92%.

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of American Electric Power by 2.5% in the second quarter. Vanguard Group Inc. now owns 34,987,758 shares of the utilities provider’s stock worth $2,430,599,000 after buying an additional 859,169 shares in the last quarter. Capital Research Global Investors lifted 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 valued at $702,392,000 after purchasing an additional 6,983,864 shares during the period. Wells Fargo & Company MN lifted 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 valued at $704,464,000 after purchasing an additional 2,260,303 shares during the period. JPMorgan Chase & Co. lifted 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 valued at $472,110,000 after purchasing an additional 2,762,164 shares during the period. Finally, Alliancebernstein L.P. lifted its position in American Electric Power by 3.7% during the second quarter. Alliancebernstein L.P. now owns 6,350,925 shares of the utilities provider’s stock valued at $441,199,000 after purchasing an additional 224,199 shares during the period. 71.04% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for American Electric Power (NYSE:AEP)

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