American Electric Power (NYSE:AEP) Given New $82.00 Price Target at Barclays

American Electric Power (NYSE:AEP) had its target price reduced by Barclays from $107.00 to $82.00 in a report published on Thursday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the utilities provider’s stock.

Several other research analysts have also weighed in on AEP. Zacks Investment Research lowered shares of American Electric Power from a hold rating to a sell rating and set a $101.00 price objective on the stock. in a research note on Wednesday, January 15th. Royal Bank of Canada upgraded shares of American Electric Power from a sector perform rating to an outperform rating and boosted their price objective for the stock from $96.00 to $103.00 in a research note on Wednesday, January 15th. Goldman Sachs Group boosted their price objective on shares of American Electric Power from to and gave the stock a hold rating in a research note on Thursday, February 20th. Wells Fargo & Co restated an outperform rating on shares of American Electric Power in a research note on Monday, February 24th. Finally, KeyCorp upgraded shares of American Electric Power from a sector weight rating to an overweight rating and set a $93.00 price objective on the stock in a research note on Friday, March 13th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $100.50.

AEP stock traded up $1.60 during midday trading on Thursday, hitting $83.40. The company’s stock had a trading volume of 3,255,230 shares, compared to its average volume of 5,539,134. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.40 and a quick ratio of 0.28. American Electric Power has a twelve month low of $65.14 and a twelve month high of $104.97. The company’s fifty day moving average price is $93.19 and its 200 day moving average price is $93.75. The stock has a market capitalization of $41.27 billion, a P/E ratio of 21.44, a PEG ratio of 3.24 and a beta of 0.31.

American Electric Power (NYSE:AEP) last issued its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $4.37 billion. American Electric Power had a net margin of 12.34% and a return on equity of 10.67%. The company’s revenue was down 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 EPS. Equities analysts expect that American Electric Power will post 4.32 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Monday, February 10th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $2.80 dividend on an annualized basis and a yield of 3.36%. American Electric Power’s dividend payout ratio (DPR) is currently 66.04%.

In other American Electric Power news, VP Lana L. Hillebrand sold 8,944 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $100.00, for a total value of $894,400.00. Following the completion of the sale, the vice president now owns 12,324 shares of the company’s stock, valued at approximately $1,232,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas K. Akins sold 69,657 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $101.05, for a total transaction of $7,038,839.85. Following the completion of the sale, the chief executive officer now directly owns 170,522 shares of the company’s stock, valued at approximately $17,231,248.10. The disclosure for this sale can be found here. Insiders sold a total of 108,304 shares of company stock valued at $10,899,717 in the last three months. Insiders own 0.16% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC lifted its holdings in shares of American Electric Power by 13.3% during the 4th quarter. Quadrant Capital Group LLC now owns 4,770 shares of the utilities provider’s stock worth $431,000 after acquiring an additional 561 shares during the period. Macquarie Group Ltd. lifted its holdings in shares of American Electric Power by 227.3% during the 4th quarter. Macquarie Group Ltd. now owns 1,206,926 shares of the utilities provider’s stock worth $114,067,000 after acquiring an additional 838,212 shares during the period. TFG Advisers LLC bought a new stake in shares of American Electric Power during the 4th quarter worth approximately $2,326,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of American Electric Power by 479.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 226,325 shares of the utilities provider’s stock worth $21,346,000 after acquiring an additional 187,258 shares during the period. Finally, Engrave Wealth Partners LLC bought a new stake in shares of American Electric Power during the 4th quarter worth approximately $31,000. 73.78% of the stock is owned by hedge funds and other institutional investors.

About American Electric Power

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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