American Electric Power Company Inc (NYSE:AEP) has received a consensus rating of “Hold” from the seventeen brokerages that are covering the stock, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $81.85.
A number of research firms have weighed in on AEP. Morgan Stanley raised their price objective on shares of American Electric Power from $88.00 to $92.00 and gave the company an “equal weight” rating in a research note on Friday, June 14th. KeyCorp began coverage on shares of American Electric Power in a research note on Tuesday, June 4th. They issued a “sector weight” rating on the stock. Wolfe Research set a $89.00 price objective on shares of American Electric Power and gave the company a “buy” rating in a research note on Friday, April 26th. Wells Fargo & Co raised their price objective on shares of American Electric Power from $89.00 to $93.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Finally, Goldman Sachs Group lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research note on Monday, April 8th.
Shares of NYSE AEP opened at $90.87 on Friday. The firm has a market cap of $44.99 billion, a P/E ratio of 23.01, a P/E/G ratio of 3.83 and a beta of 0.16. American Electric Power has a 12-month low of $66.74 and a 12-month high of $91.70. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.37 and a current ratio of 0.49.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend was Thursday, May 9th. American Electric Power’s dividend payout ratio (DPR) is 67.85%.
In other news, VP Brian X. Tierney sold 4,392 shares of the stock in a transaction dated Tuesday, May 14th. The shares were 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 in the company, valued at $3,393,402.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Nicholas K. Akins sold 11,152 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $84.94, for a total transaction of $947,250.88. The disclosure for this sale can be found here. Insiders sold 24,637 shares of company stock worth $2,112,145 over the last ninety days. Insiders own 0.16% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Sageworth Trust Co raised its holdings in shares of American Electric Power by 1,026.9% in the first quarter. Sageworth Trust Co now owns 293 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 267 shares during the last quarter. Legacy Advisors LLC purchased a new stake in shares of American Electric Power in the first quarter valued at about $25,000. Truvestments Capital LLC purchased a new stake in shares of American Electric Power in the first quarter valued at about $28,000. Capital Financial Planning LLC purchased a new stake in shares of American Electric Power in the fourth quarter valued at about $26,000. Finally, Weaver Consulting Group purchased a new stake in shares of American Electric Power in the first quarter valued at about $32,000. Institutional investors own 73.58% of the company’s stock.
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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