Guggenheim upgraded shares of American Electric Power (NYSE:AEP) from a sell rating to a neutral rating in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports.
Several other equities analysts also recently commented on the company. Morgan Stanley upgraded American Electric Power from an equal weight rating to an overweight rating and set a $83.00 price objective on the stock in a research note on Wednesday, December 13th. ValuEngine downgraded American Electric Power from a buy rating to a hold rating in a research note on Tuesday, December 26th. Zacks Investment Research downgraded American Electric Power from a hold rating to a sell rating in a research note on Tuesday, December 12th. SunTrust Banks reiterated a buy rating and issued a $78.00 price objective on shares of American Electric Power in a research note on Tuesday, January 9th. Finally, Royal Bank of Canada reiterated a hold rating and issued a $74.00 price objective on shares of American Electric Power in a research note on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of Buy and an average target price of $74.36.
American Electric Power (AEP) opened at $66.37 on Tuesday. American Electric Power has a 12 month low of $63.32 and a 12 month high of $78.07. The firm has a market capitalization of $32,720.00, a P/E ratio of 17.33, a PEG ratio of 3.21 and a beta of 0.18. The company has a quick ratio of 0.43, a current ratio of 0.49 and a debt-to-equity ratio of 1.04.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 9th will be given a dividend of $0.62 per share. The ex-dividend date is Thursday, February 8th. This represents a $2.48 annualized dividend and a dividend yield of 3.74%. American Electric Power’s dividend payout ratio is currently 64.75%.
Several large investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. lifted its position in shares of American Electric Power by 7.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 111,313 shares of the utilities provider’s stock worth $8,188,000 after acquiring an additional 7,320 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of American Electric Power by 5.5% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 228,487 shares of the utilities provider’s stock worth $16,810,000 after acquiring an additional 11,886 shares in the last quarter. Sawtooth Solutions LLC purchased a new stake in shares of American Electric Power during the fourth quarter worth $289,000. We Are One Seven LLC purchased a new stake in shares of American Electric Power during the fourth quarter worth $195,000. Finally, Meitav Dash Investments Ltd. purchased a new stake in shares of American Electric Power during the fourth quarter worth $1,250,000. Hedge funds and other institutional investors own 70.47% of the company’s stock.
About American Electric Power
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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