Shares of American Electric Power Company Inc (NYSE:AEP) have earned an average rating of “Buy” from the sixteen brokerages that are presently covering the firm, Market Beat reports. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $61.46.
In related news, EVP Lisa M. Barton sold 1,273 shares of the company’s stock in a transaction dated Monday, November 23rd. The shares were sold at an average price of $55.98, for a total value of $71,262.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
A number of institutional investors have made changes to their positions in AEP. Gerstein Fisher raised its position in shares of American Electric Power Company by 13.3% in the third quarter. Gerstein Fisher now owns 9,896 shares of the company’s stock valued at $563,000 after buying an additional 1,162 shares in the last quarter. Jennison Associates raised its stake in American Electric Power Company by 18.5% in the third quarter. Jennison Associates now owns 1,939,733 shares of the company’s stock valued at $110,293,000 after buying an additional 302,265 shares during the period. KBC Group raised its stake in American Electric Power Company by 361.2% in the third quarter. KBC Group now owns 154,583 shares of the company’s stock valued at $8,790,000 after buying an additional 121,067 shares during the period. Finally, Meag Munich Ergo Kapitalanlagegesellschaft purchased a new stake in American Electric Power Company during the third quarter valued at $11,870,000.
Shares of American Electric Power Company (NYSE:AEP) traded down 1.1328% during midday trading on Monday, hitting $57.6099. The stock had a trading volume of 1,049,000 shares. The stock has a market cap of $28.28 billion and a P/E ratio of 15.9761. The stock has a 50-day moving average price of $56.35 and a 200-day moving average price of $55.87. American Electric Power Company has a 12-month low of $52.29 and a 12-month high of $65.38.
American Electric Power Company (NYSE:AEP) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.06. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.41 billion. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.01 EPS. Equities analysts forecast that American Electric Power Company will post $3.73 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 10th. Stockholders of record on Tuesday, November 10th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend was Friday, November 6th.
Several research analysts recently weighed in on AEP shares. Evercore ISI increased their target price on American Electric Power Company from $57.50 to $58.00 and gave the stock a “hold” rating in a research report on Friday, September 18th. Jefferies Group restated a “buy” rating and set a $61.00 target price on shares of American Electric Power Company in a research note on Thursday, September 17th. Deutsche Bank restated a “buy” rating and set a $63.00 target price on shares of American Electric Power Company in a research note on Wednesday, October 7th. Guggenheim upgraded American Electric Power Company from a “neutral” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Tuesday, September 8th. Finally, Barclays raised their target price on American Electric Power Company from $61.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, October 2nd.
American Electric Power Company, Inc. is a utility holding company. It operates in five segments. The vertically integrated utilities segment generates, transmits and distributes electricity through AEP Generating Company, Appalachian Power Company, Indiana Michigan Power Company, Kingsport Power Company, Kentucky Power Company, Public Service Company of Oklahoma, Southwestern Electric Power Company and Wheeling Power Company. The Transmission and Distribution Utilities segment transmits and distributes electricity through Ohio Power Company, AEP Texas Central Company and AEP Texas North Company. The Generation & Marketing segment’s subsidiaries consist of nonutility generating assets, a wholesale energy trading and marketing business and a retail supply and energy management business. AEP Transmission Holdco is a holding company for AEP’s transmission joint ventures and AEP Transmission Company, LLC. The AEP River Operations segment transports liquid, coal and dry bulk commodities.