American Electric Power (NASDAQ:AEP) Price Target Lowered to $96.00 at Evercore ISI

American Electric Power (NASDAQ:AEP) had its target price decreased by Evercore ISI from $97.00 to $96.00 in a research report released on Thursday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Scotiabank raised their target price on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Morgan Stanley raised their price objective on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Jefferies Financial Group started coverage on shares of American Electric Power in a research note on Friday, September 20th. They set a “hold” rating and a $107.00 price target for the company. BMO Capital Markets boosted their price objective on shares of American Electric Power from $109.00 to $114.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Finally, Bank of America upped their price target on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $98.27.

American Electric Power Price Performance

Shares of NASDAQ:AEP traded up $0.18 during midday trading on Thursday, hitting $96.51. The stock had a trading volume of 1,448,583 shares, compared to its average volume of 3,149,102. The company’s 50-day moving average price is $100.59 and its 200-day moving average price is $94.79. The company has a market capitalization of $51.35 billion, a P/E ratio of 19.28, a price-to-earnings-growth ratio of 2.81 and a beta of 0.55. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. American Electric Power has a fifty-two week low of $74.97 and a fifty-two week high of $105.18.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be given a dividend of $0.93 per share. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.85%. American Electric Power’s dividend payout ratio (DPR) is 70.12%.

Hedge Funds Weigh In On American Electric Power

Institutional investors have recently made changes to their positions in the stock. HHM Wealth Advisors LLC grew its stake in American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after buying an additional 103 shares in the last quarter. LRI Investments LLC boosted its stake in American Electric Power by 935.9% during the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after buying an additional 365 shares during the period. Briaud Financial Planning Inc grew its position in American Electric Power by 52.1% during the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after buying an additional 150 shares in the last quarter. Naples Money Management LLC bought a new position in American Electric Power in the 2nd quarter worth about $44,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of American Electric Power in the 2nd quarter valued at about $48,000. Institutional investors and hedge funds own 75.24% 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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.