American Electric Power (AEP) Price Target Lowered to $67.00 at Morgan Stanley

American Electric Power (NYSE:AEP) had its target price decreased by Morgan Stanley from $71.00 to $67.00 in a research report report published on Wednesday morning. Morgan Stanley currently has an overweight rating on the utilities provider’s stock.

AEP has been the topic of several other reports. JPMorgan Chase & Co. lowered their price objective on American Electric Power from $70.00 to $69.00 and set a neutral rating on the stock in a report on Tuesday, April 10th. SunTrust Banks set a $76.00 price objective on American Electric Power and gave the stock a buy rating in a report on Monday, March 19th. Guggenheim upgraded American Electric Power from a sell rating to a neutral rating in a report on Tuesday, February 20th. Zacks Investment Research cut American Electric Power from a hold rating to a sell rating in a report on Tuesday, February 13th. Finally, ValuEngine cut American Electric Power from a hold rating to a sell rating in a report on Wednesday, June 6th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $73.71.

NYSE:AEP opened at $63.46 on Wednesday. American Electric Power has a 52 week low of $62.71 and a 52 week high of $78.07. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.34 and a current ratio of 0.44. The stock has a market cap of $30.99 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 2.85 and a beta of 0.18.

American Electric Power (NYSE:AEP) last posted its earnings results on Thursday, April 26th. The utilities provider reported $0.96 EPS for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.02). American Electric Power had a net margin of 11.41% and a return on equity of 9.93%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $4 billion. During the same quarter last year, the business earned $0.96 earnings per share. American Electric Power’s revenue was up 2.6% on a year-over-year basis. analysts expect that American Electric Power will post 3.88 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 8th. Shareholders of record on Thursday, May 10th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend was Wednesday, May 9th. American Electric Power’s dividend payout ratio (DPR) is 67.39%.

In other American Electric Power news, EVP Mark C. Mccullough sold 721 shares of the firm’s stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $69.63, for a total value of $50,203.23. Following the transaction, the executive vice president now directly owns 7,386 shares of the company’s stock, valued at approximately $514,287.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.16% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. NuWave Investment Management LLC lifted its stake in American Electric Power by 977.2% in the 1st quarter. NuWave Investment Management LLC now owns 1,465 shares of the utilities provider’s stock worth $101,000 after purchasing an additional 1,329 shares in the last quarter. Icon Wealth Partners LLC purchased a new position in American Electric Power in the 4th quarter worth approximately $117,000. Optimum Investment Advisors purchased a new position in American Electric Power in the 1st quarter worth approximately $141,000. Jacobi Capital Management LLC lifted its stake in American Electric Power by 367.9% in the 1st quarter. Jacobi Capital Management LLC now owns 2,438 shares of the utilities provider’s stock worth $166,000 after purchasing an additional 1,917 shares in the last quarter. Finally, Gradient Investments LLC purchased a new position in American Electric Power in the 4th quarter worth approximately $167,000. 72.32% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Company Profile

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

Analyst Recommendations for American Electric Power (NYSE:AEP)

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