American Electric Power (NASDAQ:AEP) Price Target Raised to $111.00

American Electric Power (NASDAQ:AEP) had its price target increased by BMO Capital Markets from $107.00 to $111.00 in a research report released on Wednesday morning, MarketBeat Ratings reports. They currently have an outperform rating on the stock.

A number of other research analysts have also recently commented on the company. Bank of America boosted their price objective on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $105.00 to $102.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Barclays lowered their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $100.77.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $106.96 on Wednesday. The business’s fifty day moving average price is $102.78 and its 200 day moving average price is $99.15. American Electric Power has a twelve month low of $79.16 and a twelve month high of $109.52. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $57.08 billion, a P/E ratio of 19.10, a PEG ratio of 2.97 and a beta of 0.50.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, meeting the consensus estimate of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same period last year, the company posted $1.23 EPS. As a group, research analysts anticipate that American Electric Power will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a $0.93 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a yield of 3.48%. American Electric Power’s dividend payout ratio (DPR) is 66.43%.

Institutional Trading of American Electric Power

Several institutional investors and hedge funds have recently bought and sold shares of the company. Safeguard Investment Advisory Group LLC increased its holdings in shares of American Electric Power by 4.3% in the 4th quarter. Safeguard Investment Advisory Group LLC now owns 2,414 shares of the company’s stock valued at $223,000 after acquiring an additional 100 shares during the last quarter. SouthState Corp boosted its holdings in American Electric Power by 1.6% in the fourth quarter. SouthState Corp now owns 6,611 shares of the company’s stock worth $610,000 after purchasing an additional 102 shares during the period. Ascent Group LLC increased its stake in American Electric Power by 0.4% during the fourth quarter. Ascent Group LLC now owns 27,889 shares of the company’s stock valued at $2,572,000 after purchasing an additional 102 shares during the last quarter. Dark Forest Capital Management LP raised its holdings in shares of American Electric Power by 2.3% during the fourth quarter. Dark Forest Capital Management LP now owns 4,537 shares of the company’s stock worth $418,000 after purchasing an additional 103 shares during the period. Finally, PSI Advisors LLC lifted its position in shares of American Electric Power by 10.6% in the 4th quarter. PSI Advisors LLC now owns 1,113 shares of the company’s stock worth $103,000 after buying an additional 107 shares during the last quarter. 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.