American Electric Power Company Inc (NYSE:AEP) – Stock analysts at SunTrust Banks boosted their Q3 2018 EPS estimates for shares of American Electric Power in a note issued to investors on Wednesday, October 17th, according to Zacks Investment Research. SunTrust Banks analyst A. Agha now anticipates that the utilities provider will post earnings per share of $1.26 for the quarter, up from their prior estimate of $1.07. SunTrust Banks currently has a “Buy” rating and a $80.00 target price on the stock.
Several other equities research analysts have also commented on AEP. KeyCorp boosted their price target on American Electric Power from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, July 19th. Scotiabank initiated coverage on American Electric Power in a research note on Tuesday, July 24th. They set a “hold” rating and a $72.00 price target on the stock. Mizuho reaffirmed a “buy” rating and issued a $74.50 target price on shares of American Electric Power in a research note on Friday, July 27th. Howard Weil initiated coverage on American Electric Power in a research note on Tuesday, July 24th. They issued a “sector perform” rating and a $72.00 target price on the stock. Finally, ValuEngine raised American Electric Power from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $76.03.
Shares of NYSE:AEP traded up $1.15 during trading on Friday, hitting $75.32. 2,419,499 shares of the stock were exchanged, compared to its average volume of 3,207,076. The firm has a market capitalization of $37.05 billion and a price-to-earnings ratio of 20.47. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.56 and a quick ratio of 0.46. American Electric Power has a 12-month low of $62.71 and a 12-month high of $78.07.
American Electric Power (NYSE:AEP) last announced its quarterly earnings results on Thursday, October 25th. The utilities provider reported $1.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.05. The business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.26 billion. American Electric Power had a return on equity of 10.78% and a net margin of 12.14%. During the same quarter in the previous year, the company earned $1.10 EPS.
Institutional investors and hedge funds have recently modified their holdings of the business. OppenheimerFunds Inc. increased its holdings in shares of American Electric Power by 39.6% during the 2nd quarter. OppenheimerFunds Inc. now owns 801,766 shares of the utilities provider’s stock worth $55,522,000 after buying an additional 227,613 shares during the last quarter. OLD Republic International Corp boosted its position in American Electric Power by 20.9% during the 2nd quarter. OLD Republic International Corp now owns 312,800 shares of the utilities provider’s stock worth $21,661,000 after purchasing an additional 54,000 shares during the period. City Holding Co. boosted its position in American Electric Power by 21.9% during the 2nd quarter. City Holding Co. now owns 6,788 shares of the utilities provider’s stock worth $470,000 after purchasing an additional 1,221 shares during the period. Marshall Wace LLP purchased a new stake in American Electric Power during the 2nd quarter worth $18,478,000. Finally, Rothschild Asset Management Inc. boosted its position in American Electric Power by 1.0% during the 2nd quarter. Rothschild Asset Management Inc. now owns 465,273 shares of the utilities provider’s stock worth $32,220,000 after purchasing an additional 4,800 shares during the period. Institutional investors own 72.12% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 9th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.62. This represents a $2.68 annualized dividend and a yield of 3.56%. American Electric Power’s payout ratio is 67.39%.
About American Electric Power
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.
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