American Electric Power Company, Inc. (AEP) Downgraded by Mizuho to “Hold”

Mizuho cut shares of American Electric Power Company, Inc. (NYSE:AEP) from a buy rating to a hold rating in a research report report published on Friday. They currently have $73.00 price target on the utilities provider’s stock.

AEP has been the subject of several other research reports. Morgan Stanley restated an equal weight rating on shares of American Electric Power in a research note on Friday, September 8th. KeyCorp restated a buy rating and issued a $73.00 target price on shares of American Electric Power in a research note on Friday, September 1st. Royal Bank Of Canada restated a hold rating and issued a $71.00 target price on shares of American Electric Power in a research note on Monday, September 4th. BidaskClub upgraded shares of American Electric Power from a hold rating to a buy rating in a research note on Tuesday, August 22nd. Finally, Goldman Sachs Group, Inc. (The) cut shares of American Electric Power from a buy rating to a neutral rating and raised their target price for the stock from $68.00 to $70.00 in a research note on Monday, June 26th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $72.27.

American Electric Power (AEP) traded down 1.23% on Friday, reaching $70.57. 3,052,203 shares of the company were exchanged. The stock has a 50-day moving average price of $72.53 and a 200 day moving average price of $69.78. The stock has a market capitalization of $34.71 billion, a price-to-earnings ratio of 60.73 and a beta of 0.29. American Electric Power has a 52 week low of $57.89 and a 52 week high of $74.59.

American Electric Power (NYSE:AEP) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.07). The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.70 billion. American Electric Power had a return on equity of 10.32% and a net margin of 3.60%. During the same quarter in the prior year, the company earned $0.95 EPS. Analysts forecast that American Electric Power will post $3.65 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Thursday, August 10th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.34%. American Electric Power’s dividend payout ratio (DPR) is presently 203.45%.

Several hedge funds and other institutional investors have recently modified their holdings of AEP. Ledyard National Bank grew its holdings in shares of American Electric Power by 52.6% during the second quarter. Ledyard National Bank now owns 1,450 shares of the utilities provider’s stock worth $101,000 after buying an additional 500 shares in the last quarter. Point72 Asia Hong Kong Ltd purchased a new stake in shares of American Electric Power during the first quarter worth about $105,000. Chicago Partners Investment Group LLC grew its holdings in shares of American Electric Power by 0.3% during the first quarter. Chicago Partners Investment Group LLC now owns 1,599 shares of the utilities provider’s stock worth $107,000 after buying an additional 5 shares in the last quarter. Zions Bancorporation grew its holdings in shares of American Electric Power by 1.3% during the first quarter. Zions Bancorporation now owns 1,680 shares of the utilities provider’s stock worth $113,000 after buying an additional 21 shares in the last quarter. Finally, Thompson Davis & CO. Inc. grew its holdings in shares of American Electric Power by 0.3% during the first quarter. Thompson Davis & CO. Inc. now owns 1,741 shares of the utilities provider’s stock worth $117,000 after buying an additional 6 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

American Electric Power Company Profile

American Electric Power Company, Inc (AEP) is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.

Analyst Recommendations for American Electric Power (NYSE:AEP)

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