American Electric Power (NASDAQ:AEP) Now Covered by Raymond James

Raymond James started coverage on shares of American Electric Power (NASDAQ:AEP) in a research report released on Friday, Marketbeat.com reports. The firm issued an outperform rating and a $115.00 price target on the stock.

A number of other analysts have also recently commented on the stock. BMO Capital Markets upped their target price on shares of American Electric Power from $111.00 to $115.00 and gave the company an “outperform” rating in a report on Monday, April 21st. Morgan Stanley reduced their target price on shares of American Electric Power from $114.00 to $113.00 and set an “overweight” rating for the company in a report on Thursday, May 22nd. Wells Fargo & Company increased their price objective on shares of American Electric Power from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 7th. Guggenheim increased their price objective on shares of American Electric Power from $109.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Finally, Barclays increased their price objective on shares of American Electric Power from $95.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, American Electric Power presently has an average rating of “Hold” and an average price target of $108.31.

American Electric Power Stock Down 0.1%

Shares of American Electric Power stock opened at $102.90 on Friday. American Electric Power has a twelve month low of $85.93 and a twelve month high of $110.48. The company has a market cap of $54.97 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 2.97 and a beta of 0.42. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. The company’s 50 day moving average is $104.17 and its 200 day moving average is $101.12.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.14. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. The business had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.33 billion. During the same period in the prior year, the company earned $1.27 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. Research analysts anticipate that American Electric Power will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a $0.93 dividend. The ex-dividend date was Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a yield of 3.62%. American Electric Power’s dividend payout ratio is currently 71.68%.

Insider Buying and Selling at American Electric Power

In other American Electric Power news, EVP David Matthew Feinberg sold 8,057 shares of American Electric Power stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $102.94, for a total value of $829,387.58. Following the completion of the transaction, the executive vice president now directly owns 26,298 shares of the company’s stock, valued at $2,707,116.12. This trade represents a 23.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction on Monday, May 19th. The stock was sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the completion of the transaction, the executive vice president now directly owns 9,658 shares of the company’s stock, valued at $991,683.44. The trade was a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,256 shares of company stock worth $2,688,472. Insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On American Electric Power

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of American Electric Power during the 4th quarter worth about $25,000. EQ Wealth Advisors LLC purchased a new position in shares of American Electric Power during the 1st quarter worth about $25,000. Fourth Dimension Wealth LLC purchased a new position in shares of American Electric Power during the 4th quarter worth about $28,000. Bank of New Hampshire purchased a new position in shares of American Electric Power during the 1st quarter worth about $28,000. Finally, Bayforest Capital Ltd purchased a new position in shares of American Electric Power during the 1st quarter worth about $31,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

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