Jefferies Group cut shares of American Electric Power Co. (NYSE:AEP) from a buy rating to a hold rating in a research report released on Tuesday. The firm currently has $67.00 target price on the stock, down from their prior target price of $77.00. The analysts noted that the move was a valuation call.

Other equities research analysts have also recently issued research reports about the company. Citigroup Inc. raised their target price on American Electric Power from $61.00 to $68.00 and gave the stock a neutral rating in a research note on Wednesday, July 20th. Hilliard Lyons cut American Electric Power from a buy rating to a hold rating in a research note on Friday, July 29th. Barclays PLC raised their target price on American Electric Power from $75.00 to $77.00 and gave the stock an overweight rating in a research note on Friday, July 29th. Goldman Sachs Group Inc. raised American Electric Power from a neutral rating to a buy rating and raised their target price for the stock from $71.00 to $73.00 in a research note on Tuesday, July 26th. Finally, Bank of America Corp. reissued a buy rating on shares of American Electric Power in a research note on Tuesday, May 24th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $67.39.

Shares of American Electric Power (NYSE:AEP) opened at 65.01 on Tuesday. American Electric Power has a 52 week low of $53.30 and a 52 week high of $71.32. The company’s 50 day moving average price is $66.05 and its 200-day moving average price is $66.19. The stock has a market capitalization of $31.97 billion, a PE ratio of 16.04 and a beta of 0.24.

American Electric Power (NYSE:AEP) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.05. American Electric Power had a return on equity of 9.54% and a net margin of 12.50%. The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter last year, the business posted $0.88 earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. Equities research analysts predict that American Electric Power will post $3.69 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Wednesday, August 10th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.45%. American Electric Power’s dividend payout ratio (DPR) is 55.17%.

A number of hedge funds have recently made changes to their positions in the company. Bank of Montreal Can purchased a new stake in American Electric Power during the second quarter valued at $261,970,000. Panagora Asset Management Inc. increased its stake in American Electric Power by 3.6% in the first quarter. Panagora Asset Management Inc. now owns 782,385 shares of the company’s stock valued at $51,950,000 after buying an additional 27,294 shares during the last quarter. First Quadrant L P CA increased its stake in American Electric Power by 100.2% in the second quarter. First Quadrant L P CA now owns 80,500 shares of the company’s stock valued at $5,642,000 after buying an additional 40,300 shares during the last quarter. CIBC World Markets Inc. increased its stake in American Electric Power by 60.1% in the second quarter. CIBC World Markets Inc. now owns 12,987 shares of the company’s stock valued at $910,000 after buying an additional 4,876 shares during the last quarter. Finally, AXA increased its stake in American Electric Power by 364.8% in the first quarter. AXA now owns 92,500 shares of the company’s stock valued at $6,142,000 after buying an additional 72,600 shares during the last quarter. 68.74% of the stock is owned by institutional investors.

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

5 Day Chart for NYSE:AEP

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