Mizuho lowered shares of American Electric Power Company, Inc. (NYSE:AEP) from a buy rating to a neutral rating in a research note issued to investors on Friday morning. The firm currently has $73.00 price objective on the utilities provider’s stock, down from their prior price objective of $74.00.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley lifted their price target on shares of American Electric Power from $71.00 to $73.00 and gave the company an equal weight rating in a research report on Thursday, August 10th. Royal Bank Of Canada reiterated a hold rating and set a $71.00 price target on shares of American Electric Power in a research report on Wednesday, August 2nd. BidaskClub upgraded shares of American Electric Power from a sell rating to a hold rating in a research report on Monday, July 31st. BMO Capital Markets reiterated an outperform rating and set a $75.00 price target (up from $73.00) on shares of American Electric Power in a research report on Friday, July 28th. Finally, Jefferies Group LLC reiterated a hold rating and set a $70.00 price target on shares of American Electric Power in a research report on Wednesday, July 19th. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $72.27.

American Electric Power (AEP) opened at 71.07 on Friday. The company has a market capitalization of $34.96 billion, a P/E ratio of 61.16 and a beta of 0.29. The firm has a 50-day moving average of $72.53 and a 200-day moving average of $69.78. 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 earnings results on Thursday, July 27th. The utilities provider reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.07). American Electric Power had a return on equity of 10.32% and a net margin of 3.60%. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period last year, the firm earned $0.95 earnings per share. Analysts anticipate that American Electric Power will post $3.65 EPS for the current fiscal year.

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

Several hedge funds have recently made changes to their positions in the stock. Chicago Partners Investment Group LLC grew its holdings in shares of American Electric Power by 0.3% in the first quarter. Chicago Partners Investment Group LLC now owns 1,599 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 5 shares in the last quarter. Thompson Davis & CO. Inc. grew its holdings in shares of American Electric Power by 0.3% in the first quarter. Thompson Davis & CO. Inc. now owns 1,741 shares of the utilities provider’s stock valued at $117,000 after purchasing an additional 6 shares in the last quarter. Jackson Grant Investment Advisers Inc. grew its holdings in shares of American Electric Power by 0.4% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 2,824 shares of the utilities provider’s stock valued at $196,000 after purchasing an additional 12 shares in the last quarter. Guardian Life Insurance Co. of America grew its holdings in shares of American Electric Power by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,897 shares of the utilities provider’s stock valued at $127,000 after purchasing an additional 13 shares in the last quarter. Finally, Alpha Windward LLC grew its holdings in shares of American Electric Power by 0.4% in the second quarter. Alpha Windward LLC now owns 3,131 shares of the utilities provider’s stock valued at $218,000 after purchasing an additional 13 shares in the last quarter. Hedge funds and other institutional investors 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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