American Electric Power Co. (NYSE:AEP) shares were down 2.5% during mid-day trading on Friday . The stock traded as low as $64.63 and last traded at $64.70, with a volume of 3,138,054 shares traded. The stock had previously closed at $66.37.

Several research analysts recently issued reports on AEP shares. KeyCorp restated an “outperform” rating and set a $72.50 price objective (up from $69.00) on shares of American Electric Power in a research report on Saturday, July 2nd. Hilliard Lyons downgraded American Electric Power from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Jefferies Group lifted their price objective on American Electric Power from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Goldman Sachs Group Inc. upgraded American Electric Power from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $71.00 to $73.00 in a research report on Tuesday, July 26th. Finally, Zacks Investment Research downgraded American Electric Power from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. American Electric Power presently has a consensus rating of “Buy” and a consensus price target of $67.11.

The firm has a market capitalization of $31.81 billion and a PE ratio of 15.96. The firm has a 50 day moving average price of $68.29 and a 200 day moving average price of $65.81.

American Electric Power (NYSE:AEP) last issued its earnings results on Thursday, July 28th. The company reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.05. The business had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the business posted $0.88 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Equities analysts anticipate that American Electric Power Co. will post $3.69 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Wednesday, August 10th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.46%.

A number of hedge funds have modified their holdings of AEP. American International Group Inc. boosted its stake in shares of American Electric Power by 2.0% in the fourth quarter. American International Group Inc. now owns 209,684 shares of the company’s stock worth $12,219,000 after buying an additional 4,045 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of American Electric Power by 2.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,926,224 shares of the company’s stock worth $112,242,000 after buying an additional 45,545 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of American Electric Power by 837.7% in the fourth quarter. Marshall Wace LLP now owns 37,791 shares of the company’s stock worth $2,202,000 after buying an additional 33,761 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of American Electric Power by 9.9% in the fourth quarter. Ameriprise Financial Inc. now owns 3,081,018 shares of the company’s stock worth $179,535,000 after buying an additional 276,604 shares during the last quarter.

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 Company’s segments include Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing.

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