Of the 18 analysts tracking American Electric Power (AEP), four recommend “strong buy,” six recommend “buy,” and eight recommend “hold.” Their mean target price of $84.20 implies the stock could stay flat this year based on its current price of $84.
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AEP stock is trading 20 times its forward earnings, higher than its five-year average and peers’ (XLU) average. It has one of the longest dividend payment histories among peers. On April 23, AEP declared a quarterly dividend of $0.67 per share, marking its 436th consecutive quarterly cash dividend.
The biggest utility by revenue, Exelon (EXC), is set to report its first-quarter earnings on May 2. Analysts’ mean price target of $51.60 for the stock implies a slight 3% increase in the next 12 months from its current price of $50.