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Market Update (NYSE:AEP): AEP Delivering Customer And Shareholder Value Through Investments In Its Regulated Businesses, Shareholders Learn At Company’s Annual Meeting

[PR Newswire] – COLUMBUS, Ohio, April 26, 2016 /PRNewswire/ — American Electric Power (AEP) continues to deliver value to its customers and shareholders by investing in the company’s core, regulated operations, according to Nicholas K. Akins, AEP’s chairman, president and chief executive officer. Akins addressed shareholders at the company’s annual meeting today in Columbus, Ohio. “The investments we’re making to build a smarter grid, improve service to our customers and create a balanced energy mix – coupled with our focus on controlling costs and improving the efficiency of our operations – will allow AEP to continue achieving solid financial results. Read more on this. American Electric Power Co., Inc. (AEP) , valued at $30.81B, started trading this morning at $62.92. A quick look at the market, the company’s stock traded between $62.77 and $63.25 with the price of the stock fluctuating between $52.29 to $67.19 over the last 52 weeks. American Electric Power (AEP) shares are currently priced at 17.02x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 16.86x earnings multiple for the same period. And for income investors, the company pays shareholders $2.24 per share annually in dividends, yielding 3.57%. Consensus earnings for the current quarter by the 15 sell-side analysts covering the stock is an estimate of $1.05 per share, which would be $0.23 worse than the year-ago quarter and a $0.09 sequential decrease. Investors should also note that the full-year EPS estimate of $3.69 is a $0.00 setback when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $4.47 Billion. If reported, that would be a 4.89% decrease over the year-ago quarter. Recently, Credit Suisse downgraded AEP from Outperform to Neutral (Oct 23, 2015). Previously, Citigroup Initiated AEP at to Neutral. Given all the information above, we should disclose to readers that the average price target is $67.71, which is 7.61% above than it opened this morning. See more in (NYSE:AEP) Similar Articles: Market Update: American Electric Power Co Inc (NYSE:AEP) – AEP Expects Today’s Ohio Supreme Court Decisions To Financially Offset After Remand Company Update: American Electric Power Co Inc (NYSE:AEP) – AEP Ohio Moving Forward On Power Purchase Agreement Market Update: Duke Energy Corp (NYSE:DUK) – SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Piedmont Natural Gas Company, Inc. of Commencement of an Investigation Concerning the Fairness of the Sale of the Company to Duke Energy Corp. — PNY
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