SunTrust Banks set a $102.00 price target on American Electric Power (NYSE:AEP) in a report released on Friday, TipRanks reports. The brokerage currently has a buy rating on the utilities provider’s stock. SunTrust Banks also issued estimates for American Electric Power’s Q1 2020 earnings at $1.24 EPS, Q2 2020 earnings at $1.05 EPS, Q3 2020 earnings at $1.53 EPS, Q1 2021 earnings at $1.32 EPS, Q2 2021 earnings at $1.12 EPS and Q3 2021 earnings at $1.63 EPS.
Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. upped their price objective on American Electric Power from $92.00 to $104.00 and gave the company an overweight rating in a research note on Monday, October 14th. UBS Group upped their price objective on American Electric Power from $100.00 to $105.00 and gave the company a buy rating in a research note on Friday, September 20th. ValuEngine downgraded American Electric Power from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Wolfe Research set a $101.00 price objective on American Electric Power and gave the company a buy rating in a research note on Friday. Finally, Bank of America reaffirmed a buy rating and issued a $98.00 price objective (up previously from $93.00) on shares of American Electric Power in a research note on Tuesday, July 9th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $95.27.
American Electric Power stock opened at $93.37 on Friday. The business has a 50 day moving average of $93.13 and a 200-day moving average of $89.46. American Electric Power has a 1 year low of $72.07 and a 1 year high of $96.22. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.48 and a quick ratio of 0.36. The company has a market capitalization of $46.60 billion, a P/E ratio of 23.64, a P/E/G ratio of 3.99 and a beta of 0.09.
American Electric Power (NYSE:AEP) last released its quarterly earnings data on Thursday, October 24th. The utilities provider reported $1.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.14. American Electric Power had a return on equity of 11.09% and a net margin of 13.52%. The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter in the prior year, the firm posted $1.26 earnings per share. Equities analysts anticipate that American Electric Power will post 4.19 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This is a boost from American Electric Power’s previous quarterly dividend of $0.67. This represents a $2.80 annualized dividend and a yield of 3.00%. American Electric Power’s dividend payout ratio is presently 67.85%.
In related news, insider Charles E. Zebula sold 1,216 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $90.98, for a total value of $110,631.68. Following the sale, the insider now directly owns 7,420 shares in the company, valued at $675,071.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.
A number of hedge funds have recently made changes to their positions in AEP. IMA Wealth Inc. bought a new stake in American Electric Power in the second quarter valued at approximately $30,000. JJJ Advisors Inc. bought a new stake in American Electric Power in the second quarter valued at approximately $31,000. Tarbox Family Office Inc. boosted its holdings in American Electric Power by 38.9% in the second quarter. Tarbox Family Office Inc. now owns 436 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 122 shares during the last quarter. Kings Point Capital Management bought a new stake in American Electric Power in the second quarter valued at approximately $39,000. Finally, Patriot Financial Group Insurance Agency LLC boosted its holdings in American Electric Power by 259.3% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 503 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 363 shares during the last quarter. Institutional investors and hedge funds own 73.86% 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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.
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