American Electric Power (NYSE:AEP) Price Target Lowered to $91.00 at Morgan Stanley

American Electric Power (NYSE:AEP) had its target price decreased by Morgan Stanley from $93.00 to $91.00 in a research report report published on Friday, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the utilities provider’s stock.

A number of other research analysts have also weighed in on the stock. SunTrust Banks raised their target price on shares of American Electric Power from $98.00 to $99.00 and gave the company a buy rating in a report on Monday, August 12th. Wolfe Research set a $89.00 target price on shares of American Electric Power and gave the company a buy rating in a report on Friday, April 26th. UBS Group raised their target price on shares of American Electric Power from $94.00 to $100.00 and gave the company a buy rating in a report on Friday, July 12th. Wells Fargo & Co raised their target price on shares of American Electric Power from $89.00 to $93.00 and gave the company an outperform rating in a report on Friday, April 26th. Finally, Bank of America reissued a buy rating and issued a $98.00 target price (up from $93.00) on shares of American Electric Power in a report on Tuesday, July 9th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. American Electric Power currently has a consensus rating of Buy and an average target price of $88.33.

AEP stock opened at $90.23 on Friday. The firm has a fifty day moving average price of $89.62 and a 200 day moving average price of $85.70. American Electric Power has a fifty-two week low of $68.92 and a fifty-two week high of $91.99. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.36 and a current ratio of 0.49. The firm has a market cap of $44.56 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 3.78 and a beta of 0.13.

American Electric Power (NYSE:AEP) last posted its earnings results on Thursday, July 25th. The utilities provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. American Electric Power had a net margin of 12.53% and a return on equity of 10.69%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same period last year, the firm posted $1.01 earnings per share. American Electric Power’s revenue for the quarter was down 10.0% compared to the same quarter last year. On average, equities analysts predict that American Electric Power will post 4.13 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 2.97%. The ex-dividend date is Thursday, August 8th. American Electric Power’s payout ratio is 67.85%.

In other American Electric Power news, VP Brian X. Tierney sold 4,458 shares of American Electric Power stock in a transaction on Monday, July 29th. The shares were sold at an average price of $89.73, for a total transaction of $400,016.34. Following the completion of the transaction, the vice president now directly owns 39,745 shares of the company’s stock, valued at $3,566,318.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paul Chodak III sold 1,303 shares of American Electric Power stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $86.52, for a total transaction of $112,735.56. Following the transaction, the executive vice president now directly owns 8,152 shares of the company’s stock, valued at $705,311.04. The disclosure for this sale can be found here. Insiders have sold 7,513 shares of company stock valued at $669,398 over the last ninety days. 0.16% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in shares of American Electric Power by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 954,396 shares of the utilities provider’s stock valued at $71,331,000 after purchasing an additional 58,389 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of American Electric Power by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 5,942,257 shares of the utilities provider’s stock valued at $443,292,000 after purchasing an additional 438,632 shares in the last quarter. USS Investment Management Ltd bought a new position in shares of American Electric Power during the first quarter valued at about $31,189,000. Pennsylvania Trust Co lifted its position in shares of American Electric Power by 3.3% during the first quarter. Pennsylvania Trust Co now owns 5,961 shares of the utilities provider’s stock valued at $499,000 after purchasing an additional 190 shares in the last quarter. Finally, Eqis Capital Management Inc. lifted its position in shares of American Electric Power by 9.3% during the first quarter. Eqis Capital Management Inc. now owns 6,222 shares of the utilities provider’s stock valued at $521,000 after purchasing an additional 528 shares in the last quarter. 73.47% of the stock is owned by 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.

Featured Story: Equity Income

Analyst Recommendations for American Electric Power (NYSE:AEP)

Receive News & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.