Guggenheim Downgrades American Electric Power (AEP) to Sell
Guggenheim downgraded shares of American Electric Power (NYSE:AEP) from a neutral rating to a sell rating in a research report released on Tuesday, MarketBeat Ratings reports.
A number of other analysts also recently issued reports on the stock. Morgan Stanley raised shares of American Electric Power from an equal weight rating to an overweight rating and set a $83.00 price target on the stock in a report on Wednesday, December 13th. Royal Bank of Canada reaffirmed a hold rating and set a $71.00 price target on shares of American Electric Power in a report on Monday, September 4th. Zacks Investment Research downgraded shares of American Electric Power from a hold rating to a sell rating in a report on Tuesday, December 12th. ValuEngine downgraded shares of American Electric Power from a buy rating to a hold rating in a report on Tuesday, December 26th. Finally, Mizuho downgraded shares of American Electric Power from a buy rating to a neutral rating and dropped their price target for the company from $74.00 to $73.00 in a report on Friday, September 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $74.82.
Shares of American Electric Power (AEP) opened at $70.80 on Tuesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.43 and a current ratio of 0.56. The stock has a market cap of $34,830.00, a PE ratio of 18.49, a PEG ratio of 3.88 and a beta of 0.30. American Electric Power has a 1-year low of $61.82 and a 1-year high of $78.07.
American Electric Power (NYSE:AEP) last announced its quarterly earnings results on Thursday, October 26th. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.06). The company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.42 billion. American Electric Power had a net margin of 12.21% and a return on equity of 9.67%. The business’s revenue was down 12.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.30 EPS. sell-side analysts forecast that American Electric Power will post 3.61 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 10th were issued a $0.62 dividend. This is an increase from American Electric Power’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.50%. American Electric Power’s dividend payout ratio (DPR) is presently 64.75%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Chicago Partners Investment Group LLC purchased a new position in shares of American Electric Power in the third quarter worth approximately $113,000. Thompson Davis & CO. Inc. boosted its holdings in shares of American Electric Power by 0.3% in the second quarter. Thompson Davis & CO. Inc. now owns 1,747 shares of the utilities provider’s stock worth $121,000 after buying an additional 6 shares during the last quarter. Vantage Investment Advisors LLC boosted its holdings in shares of American Electric Power by 0.9% in the second quarter. Vantage Investment Advisors LLC now owns 1,862 shares of the utilities provider’s stock worth $129,000 after buying an additional 17 shares during the last quarter. Bank of Nova Scotia Trust Co. purchased a new position in shares of American Electric Power in the third quarter worth approximately $140,000. Finally, WFG Advisors LP boosted its holdings in shares of American Electric Power by 36.3% in the second quarter. WFG Advisors LP now owns 2,039 shares of the utilities provider’s stock worth $142,000 after buying an additional 543 shares during the last quarter. 71.04% of the stock is currently owned by institutional investors.
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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.
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