American Electric Power (NASDAQ:AEP) Given New $100.00 Price Target at BMO Capital Markets

American Electric Power (NASDAQ:AEP) had its price objective decreased by BMO Capital Markets from $108.00 to $100.00 in a research note published on Friday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other research firms have also recently issued reports on AEP. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. Jefferies Financial Group started coverage on shares of American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 price objective on the stock. Evercore ISI reduced their target price on shares of 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. UBS Group lifted their price target on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $102.00 price objective (down from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $96.60.

American Electric Power Stock Up 1.4 %

NASDAQ:AEP opened at $93.51 on Friday. American Electric Power has a 1 year low of $75.22 and a 1 year high of $105.18. The stock has a 50-day moving average price of $94.72 and a two-hundred day moving average price of $96.56. The stock has a market cap of $49.76 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 2.70 and a beta of 0.56. 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 company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.98%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date was Friday, November 8th. American Electric Power’s dividend payout ratio is presently 74.55%.

Hedge Funds Weigh In On American Electric Power

Hedge funds and other institutional investors have recently bought and sold shares of the business. HHM Wealth Advisors LLC lifted its position in shares of American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after buying an additional 103 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in American Electric Power during the 3rd quarter valued at $25,000. Safe Harbor Fiduciary LLC bought a new position in American Electric Power during the third quarter worth $33,000. Reston Wealth Management LLC acquired a new position in shares of American Electric Power in the third quarter valued at $48,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of American Electric Power in the third quarter valued at about $50,000. Institutional investors 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.