American Electric Power (NASDAQ:AEP) PT Raised to $83.00 at Guggenheim

American Electric Power (NASDAQ:AEP) had its price objective boosted by Guggenheim from $81.00 to $83.00 in a research report report published on Monday, Benzinga reports. They currently have a neutral rating on the stock.

AEP has been the topic of several other research reports. LADENBURG THALM/SH SH upgraded shares of American Electric Power from a sell rating to a neutral rating and boosted their price target for the stock from $73.00 to $86.00 in a research note on Thursday, June 6th. Barclays boosted their target price on shares of American Electric Power from $84.00 to $88.00 and gave the stock an equal weight rating in a report on Thursday, May 2nd. StockNews.com upgraded shares of American Electric Power from a sell rating to a hold rating in a report on Tuesday, May 7th. Wells Fargo & Company upped their price target on shares of American Electric Power from $84.00 to $89.00 and gave the company an equal weight rating in a report on Wednesday, May 1st. Finally, Scotiabank upped their price target on shares of American Electric Power from $86.00 to $90.00 and gave the company a sector outperform rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $88.77.

American Electric Power Stock Up 0.9 %

AEP opened at $95.84 on Monday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.37 and a current ratio of 0.54. American Electric Power has a fifty-two week low of $69.38 and a fifty-two week high of $97.32. The firm’s fifty day moving average is $89.58 and its 200 day moving average is $85.32. The stock has a market cap of $50.52 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 2.77 and a beta of 0.53.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.25 by $0.02. The business had revenue of $5 billion for the quarter, compared to analysts’ expectations of $5.02 billion. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.11 EPS. On average, sell-side analysts forecast that American Electric Power will post 5.58 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be given a $0.88 dividend. The ex-dividend date is Friday, August 9th. This represents a $3.52 annualized dividend and a dividend yield of 3.67%. American Electric Power’s payout ratio is presently 65.31%.

Insider Transactions at American Electric Power

In other news, EVP Antonio P. Smyth sold 4,898 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total value of $440,820.00. Following the completion of the sale, the executive vice president now owns 6,446 shares of the company’s stock, valued at approximately $580,140. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Greg B. Hall sold 5,880 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $88.25, for a total transaction of $518,910.00. Following the completion of the sale, the executive vice president now owns 6,385 shares of the company’s stock, valued at $563,476.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Antonio P. Smyth sold 4,898 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total transaction of $440,820.00. Following the sale, the executive vice president now directly owns 6,446 shares of the company’s stock, valued at approximately $580,140. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On American Electric Power

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Hodges Capital Management Inc. acquired a new position in American Electric Power during the 1st quarter valued at approximately $1,615,000. Quantbot Technologies LP acquired a new position in American Electric Power during the 1st quarter valued at approximately $1,731,000. Nordea Investment Management AB increased its stake in American Electric Power by 381.9% during the 1st quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock valued at $171,127,000 after purchasing an additional 1,581,734 shares in the last quarter. Mizuho Markets Americas LLC increased its stake in American Electric Power by 646.9% during the 1st quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock valued at $22,510,000 after purchasing an additional 226,435 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in American Electric Power by 21.7% during the 1st quarter. ProShare Advisors LLC now owns 582,692 shares of the company’s stock valued at $50,170,000 after purchasing an additional 103,771 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.