American Electric Power Company Inc (NYSE:AEP) – Research analysts at KeyCorp issued their FY2019 earnings per share (EPS) estimates for shares of American Electric Power in a report issued on Tuesday, June 4th, Zacks Investment Research reports. KeyCorp analyst S. Karp expects that the utilities provider will post earnings of $4.25 per share for the year. KeyCorp currently has a “Sector Weight” rating on the stock.
Several other analysts also recently issued reports on the company. Morgan Stanley boosted their price objective on American Electric Power from $88.00 to $92.00 and gave the stock an “equal weight” rating in a report on Friday, June 14th. UBS Group upped their target price on American Electric Power from $89.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Wolfe Research set a $89.00 target price on American Electric Power and gave the company a “buy” rating in a report on Friday, April 26th. Wells Fargo & Co upped their target price on American Electric Power from $89.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Goldman Sachs Group downgraded American Electric Power from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a report on Monday, April 8th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. American Electric Power has a consensus rating of “Hold” and a consensus target price of $82.07.
American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.09. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.23 billion. American Electric Power had a return on equity of 10.81% and a net margin of 12.64%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.96 EPS.
The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were paid a $0.67 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.05%. American Electric Power’s payout ratio is 67.85%.
In related news, VP Brian X. Tierney sold 4,392 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $86.02, for a total value of $377,799.84. Following the completion of the sale, the vice president now owns 39,449 shares of the company’s stock, valued at approximately $3,393,402.98. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Nicholas K. Akins sold 11,152 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $84.94, for a total value of $947,250.88. The disclosure for this sale can be found here. In the last three months, insiders sold 24,637 shares of company stock valued at $2,112,145. 0.16% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in AEP. Sageworth Trust Co boosted its position in American Electric Power by 1,026.9% during the first quarter. Sageworth Trust Co now owns 293 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 267 shares during the period. Legacy Advisors LLC bought a new stake in American Electric Power during the first quarter worth approximately $25,000. Truvestments Capital LLC bought a new stake in American Electric Power during the first quarter worth approximately $28,000. Capital Financial Planning LLC bought a new stake in American Electric Power during the fourth quarter worth approximately $26,000. Finally, Weaver Consulting Group bought a new stake in American Electric Power during the first quarter worth approximately $32,000. 73.58% of the stock is owned by institutional investors and hedge funds.
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.
Read More: What is dividend yield?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.