American Electric Power (NYSE:AEP) Cut to “Equal Weight” at Morgan Stanley

Morgan Stanley lowered shares of American Electric Power (NYSE:AEP) from an overweight rating to an equal weight rating in a research note released on Thursday, April 18th, Benzinga reports. Morgan Stanley currently has $83.20 price objective on the utilities provider’s stock, down from their previous price objective of $86.00.

Other equities research analysts also recently issued reports about the company. Goldman Sachs Group downgraded American Electric Power from a buy rating to a neutral rating and set a $78.00 price objective for the company. in a research note on Monday, April 8th. Zacks Investment Research raised American Electric Power from a hold rating to a buy rating and set a $94.00 price objective for the company in a research note on Monday, March 18th. Mizuho downgraded American Electric Power from a buy rating to a neutral rating and set a $72.00 price objective for the company. in a research note on Thursday, January 3rd. They noted that the move was a valuation call. JPMorgan Chase & Co. raised American Electric Power from a neutral rating to an overweight rating and increased their price objective for the stock from $78.00 to $88.00 in a research note on Tuesday, March 12th. Finally, Guggenheim downgraded American Electric Power from a buy rating to a neutral rating in a research note on Monday, January 7th. They noted that the move was a valuation call. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. American Electric Power currently has a consensus rating of Buy and a consensus price target of $81.33.

Shares of NYSE:AEP traded up $1.79 during midday trading on Thursday, reaching $84.66. The company had a trading volume of 2,584,467 shares, compared to its average volume of 2,074,475. The company has a quick ratio of 0.37, a current ratio of 0.49 and a debt-to-equity ratio of 1.19. American Electric Power has a 1-year low of $62.71 and a 1-year high of $86.10. The firm has a market capitalization of $41.76 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 3.55 and a beta of 0.17.

American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.09. The business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.23 billion. American Electric Power had a return on equity of 10.81% and a net margin of 12.64%. American Electric Power’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the company posted $0.96 EPS. Equities analysts predict that American Electric Power will post 4.13 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Thursday, May 9th. American Electric Power’s dividend payout ratio (DPR) is presently 67.85%.

In other news, CEO Nicholas K. Akins sold 11,152 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $84.94, for a total transaction of $947,250.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in shares of American Electric Power by 20.5% during the 1st quarter. Principal Financial Group Inc. now owns 852,743 shares of the utilities provider’s stock valued at $71,417,000 after acquiring an additional 145,360 shares during the last quarter. Resources Investment Advisors Inc. increased its holdings in shares of American Electric Power by 19.3% during the 1st quarter. Resources Investment Advisors Inc. now owns 1,115 shares of the utilities provider’s stock valued at $93,000 after acquiring an additional 180 shares during the last quarter. Glassman Wealth Services increased its holdings in shares of American Electric Power by 138.0% during the 1st quarter. Glassman Wealth Services now owns 388 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 225 shares during the last quarter. King Luther Capital Management Corp acquired a new position in shares of American Electric Power during the 1st quarter valued at about $202,000. Finally, Ontario Teachers Pension Plan Board increased its holdings in shares of American Electric Power by 241.1% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 9,361 shares of the utilities provider’s stock valued at $784,000 after acquiring an additional 6,617 shares during the last quarter. 73.53% of the stock is owned by institutional investors.

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.

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Analyst Recommendations for American Electric Power (NYSE:AEP)

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