Several other equities research analysts have also recently commented on the stock. Zacks Investment Research cut shares of American Electric Power from a hold rating to a sell rating in a research report on Tuesday, February 13th. Morgan Stanley set a $71.00 price target on shares of American Electric Power and gave the stock a buy rating in a research report on Thursday, March 8th. Guggenheim upgraded shares of American Electric Power from a sell rating to a neutral rating in a research report on Tuesday, February 20th. SunTrust Banks set a $75.00 price target on shares of American Electric Power and gave the stock a buy rating in a research report on Monday, February 12th. Finally, JPMorgan Chase & Co. cut their price objective on American Electric Power from $70.00 to $69.00 and set a neutral rating on the stock in a report on Tuesday, April 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. American Electric Power currently has an average rating of Buy and an average price target of $74.14.
Shares of American Electric Power opened at $66.84 on Thursday, MarketBeat.com reports. The company has a current ratio of 0.44, a quick ratio of 0.34 and a debt-to-equity ratio of 1.02. American Electric Power has a 52 week low of $63.32 and a 52 week high of $78.07. The stock has a market capitalization of $32.74 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 3.01 and a beta of 0.16.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Thursday, May 10th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $2.48 annualized dividend and a yield of 3.71%. American Electric Power’s payout ratio is presently 67.39%.
In other American Electric Power news, EVP Mark C. Mccullough sold 721 shares of the business’s stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $69.63, for a total transaction of $50,203.23. Following the sale, the executive vice president now owns 7,386 shares in the company, valued at approximately $514,287.18. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its holdings in shares of American Electric Power by 7.2% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 160,118 shares of the utilities provider’s stock valued at $11,780,000 after purchasing an additional 10,775 shares during the period. Allen Capital Group LLC acquired a new position in shares of American Electric Power in the 4th quarter valued at about $208,000. Quadrature Capital Ltd acquired a new position in shares of American Electric Power in the 4th quarter valued at about $5,923,000. Smart Money Group LLC acquired a new position in shares of American Electric Power in the 4th quarter valued at about $328,000. Finally, LPL Financial LLC increased its holdings in shares of American Electric Power by 6.9% in the 4th quarter. LPL Financial LLC now owns 96,448 shares of the utilities provider’s stock valued at $7,096,000 after purchasing an additional 6,185 shares during the period. Institutional investors own 72.31% of the company’s stock.
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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