American Electric Power Co. (NYSE:AEP)‘s stock had its “neutral” rating reaffirmed by Zacks in a report released on Wednesday, AR Network reports. They currently have a $50.00 price target on the stock. Zacks‘ price objective indicates a potential upside of 5.40% from the company’s current price.
Zacks‘ analyst wrote, “We retain our Neutral recommendation on American Electric Power Company, Inc. The company posted mixed financial results in the third quarter 2013 with earnings beating our expectation while revenues lagged it. The company’s focus on expanding transmission assets and strengthening its distribution capabilities will act as key performance drivers in the long term. In the wake of the Obama Climate plan, American Electric is increasing its gas capacity as opposed to coal, which will yield lucrative returns. Moreover, the company will benefit from attractive growth opportunities in the shale regions of Texas and Ohio. However, weather variations, sluggish economic fundamentals and a loss of a big client might constrain future prospects. “
Shares of American Electric Power Co. (NYSE:AEP) traded down 0.89% on Wednesday, hitting $47.02. 994,531 shares of the company’s stock traded hands. American Electric Power Co. has a 52-week low of $41.24 and a 52-week high of $51.60. The stock has a 50-day moving average of $46.29 and a 200-day moving average of $45.36. The company has a market cap of $22.912 billion and a price-to-earnings ratio of 19.97.
American Electric Power Co. (NYSE:AEP) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $1.10 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.09 by $0.01. The company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.61 billion. During the same quarter in the previous year, the company posted $1.02 earnings per share. The company’s revenue for the quarter was up .0% on a year-over-year basis. On average, analysts predict that American Electric Power Co. will post $3.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend is Wednesday, November 6th. This is an increase from American Electric Power Co.’s previous quarterly dividend of $0.49.
AEP has been the subject of a number of other recent research reports. Analysts at Morgan Stanley upgraded shares of American Electric Power Co. from an “equal weight” rating to an “overweight” rating in a research note to investors on Monday, November 18th. They now have a $52.00 price target on the stock, up previously from $44.00. Separately, analysts at Macquarie raised their price target on shares of American Electric Power Co. from $47.00 to $50.00 in a research note to investors on Tuesday, November 12th. They now have a “neutral” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. reiterated a “buy” rating on shares of American Electric Power Co. in a research note to investors on Sunday, November 3rd. They now have a $52.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. American Electric Power Co. currently has a consensus rating of “Buy” and an average price target of $50.14.
American Electric Power Company, Inc (NYSE:AEP) is a 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.
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