Company Update: American Electric Power Co Inc (NYSE:AEP) – AEP Names Evans Chief Customer Officer

[PR Newswire] – COLUMBUS, Ohio, May 16, 2016 /PRNewswire/ — American Electric Power (AEP) has named Bruce Evans to a newly created position as senior vice president and chief customer officer effective June 1. Evans is currently president and chief operating officer of AEP Texas. Evans will report to Robert P. Powers, executive vice president and chief operating officer. Read more on this. American Electric Power Co., Inc. (AEP) , currently valued at $32.36B, started trading this morning at $65.43. During the trading session, AEP traded between $65.02 to $65.87 and has traded between $52.29 and $67.19 over the past year. AEP shares are currently priced at 17.89x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 24.16x earnings multiple. And for passive income investors, the company pays shareholders $2.24 per share annually in dividends, yielding 3.41%. Consensus earnings for the current quarter by the 11 sell-side analysts covering the stock is an estimate of $0.88 per share, which would be $0.00 worse than the year-ago quarter and a $0.03 sequential increase. What we find to be interesting is that the full-year EPS estimate of $3.67 is a $0.02 setback when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $4.07 Billion. If reported, that would be a 4.36% increase over the year-ago quarter. More recently, Credit Suisse downgraded AEP from Outperform to Neutral (Oct 23, 2015). Previously, Citigroup Initiated AEP at to Neutral. The average price target for AEP shares is $67.47, which is 3.12% above where the stock opened this morning. See more in (NYSE:AEP) Similar Articles: Company Update: American Electric Power Co Inc (NYSE:AEP) – AEP Names Julie Sloat President And COO Of AEP Ohio Company Update: American Electric Power Co Inc (NYSE:AEP) – AEP Ohio Moving Forward On Power Purchase Agreement Company Update: American Electric Power Co Inc (NYSE:AEP) – American Electric Power Declares Quarterly Dividend on Common Stock