Barclays Lowers American Electric Power (NASDAQ:AEP) Price Target to $99.00

American Electric Power (NASDAQ:AEP) had its price target trimmed by Barclays from $100.00 to $99.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other analysts have also recently commented on AEP. Bank of America lifted their target price on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Evercore ISI reduced their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their target price on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Wells Fargo & Company reduced their price target on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Finally, Jefferies Financial Group started coverage on shares of American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, American Electric Power presently has an average rating of “Hold” and a consensus price target of $97.93.

American Electric Power Price Performance

Shares of AEP opened at $99.86 on Tuesday. The firm has a market capitalization of $53.14 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 2.88 and a beta of 0.55. The firm’s fifty day simple moving average is $98.72 and its 200-day simple moving average is $95.76. American Electric Power has a twelve month low of $75.22 and a twelve month high of $105.18. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.

American Electric Power Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.93 per share. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.73%. The ex-dividend date is Friday, November 8th. American Electric Power’s payout ratio is currently 74.55%.

Institutional Investors Weigh In On American Electric Power

Several institutional investors and hedge funds have recently modified their holdings of AEP. Legacy Investment Solutions LLC purchased a new stake in American Electric Power during the 3rd quarter worth approximately $25,000. HHM Wealth Advisors LLC lifted its position in shares of American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares during the last quarter. Safe Harbor Fiduciary LLC acquired a new position in American Electric Power in the third quarter worth about $33,000. LRI Investments LLC lifted its holdings in American Electric Power by 935.9% during the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after buying an additional 365 shares during the last quarter. Finally, Briaud Financial Planning Inc increased its holdings in shares of American Electric Power by 52.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after acquiring an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Company Profile

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.