Royal Bank of Canada Raises American Electric Power (NYSE:AEP) Price Target to $98.00

American Electric Power (NYSE:AEP) had its price target lifted by Royal Bank of Canada from $94.00 to $98.00 in a research note issued to investors on Monday, The Fly reports. The firm currently has an outperform rating on the utilities provider’s stock.

Other research analysts have also issued reports about the stock. Morgan Stanley upped their target price on shares of American Electric Power from $99.00 to $106.00 and gave the stock an overweight rating in a research report on Tuesday, October 20th. KeyCorp upped their price target on shares of American Electric Power from $96.00 to $97.00 and gave the company an overweight rating in a report on Monday, October 19th. Finally, TheStreet raised shares of American Electric Power from a c+ rating to a b- rating in a report on Tuesday, July 21st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. American Electric Power has a consensus rating of Buy and a consensus target price of $96.19.

Shares of AEP opened at $90.32 on Monday. The company has a current ratio of 0.42, a quick ratio of 0.30 and a debt-to-equity ratio of 1.31. The firm’s 50-day moving average is $85.13 and its two-hundred day moving average is $83.24. American Electric Power has a twelve month low of $65.14 and a twelve month high of $104.97. The firm has a market capitalization of $44.83 billion, a P/E ratio of 23.46, a PEG ratio of 3.39 and a beta of 0.30.

American Electric Power (NYSE:AEP) last issued its earnings results on Thursday, October 22nd. The utilities provider reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.03. American Electric Power had a net margin of 12.56% and a return on equity of 10.24%. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period in the prior year, the business posted $1.46 earnings per share. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. Analysts predict that American Electric Power will post 4.32 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Tuesday, November 10th will be paid a dividend of $0.74 per share. This is an increase from American Electric Power’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Monday, November 9th. This represents a $2.96 annualized dividend and a dividend yield of 3.28%. American Electric Power’s dividend payout ratio is presently 66.04%.

Large investors have recently bought and sold shares of the business. Creative Financial Designs Inc. ADV raised its stake in American Electric Power by 278.0% during the second quarter. Creative Financial Designs Inc. ADV now owns 378 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 278 shares during the period. Rockbridge Investment Management LCC purchased a new position in American Electric Power during the second quarter worth approximately $31,000. Weaver Consulting Group raised its stake in American Electric Power by 75.6% during the second quarter. Weaver Consulting Group now owns 418 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 180 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in American Electric Power by 123.1% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 482 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 266 shares during the period. Finally, Tortoise Investment Management LLC raised its stake in American Electric Power by 131.2% during the second quarter. Tortoise Investment Management LLC now owns 497 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 282 shares during the period. 73.16% of the stock is currently owned by institutional investors.

American Electric Power Company Profile

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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.

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Analyst Recommendations for American Electric Power (NYSE:AEP)

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