American Electric Power (NASDAQ:AEP) Price Target Increased to $114.00 by Analysts at BMO Capital Markets

American Electric Power (NASDAQ:AEP) had its price target hoisted by BMO Capital Markets from $109.00 to $114.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts also recently issued research reports about the stock. Scotiabank increased their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the company a sector outperform rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. increased their price target on American Electric Power from $101.00 to $108.00 and gave the company an overweight rating in a research note on Wednesday, August 7th. Jefferies Financial Group began coverage on American Electric Power in a report on Friday, September 20th. They set a hold rating and a $107.00 price objective on the stock. Barclays upped their target price on American Electric Power from $91.00 to $96.00 and gave the stock an equal weight rating in a report on Thursday, August 1st. Finally, Guggenheim lifted their price target on American Electric Power from $81.00 to $83.00 and gave the company a neutral rating in a research note on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $96.79.

American Electric Power Trading Down 1.1 %

AEP opened at $100.28 on Thursday. The stock has a market capitalization of $52.86 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 2.93 and a beta of 0.54. 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 twelve month low of $69.38 and a twelve month high of $105.18. The company has a 50-day simple moving average of $100.37 and a 200 day simple moving average of $92.23.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior year, the firm posted $1.13 EPS. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. Analysts predict that American Electric Power will post 5.6 EPS for the current fiscal year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date was Friday, August 9th. American Electric Power’s dividend payout ratio is presently 65.31%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Nomura Holdings Inc. acquired a new position in shares of American Electric Power in the 4th quarter valued at about $175,667,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in American Electric Power by 542.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock valued at $193,541,000 after buying an additional 1,927,234 shares during the period. Nordea Investment Management AB boosted its holdings in shares of American Electric Power by 381.9% during the 1st quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock worth $171,127,000 after buying an additional 1,581,734 shares in the last quarter. National Bank of Canada FI grew its position in shares of American Electric Power by 221.9% during the 1st quarter. National Bank of Canada FI now owns 1,715,346 shares of the company’s stock worth $157,140,000 after buying an additional 1,182,451 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of American Electric Power by 67.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 2,586,250 shares of the company’s stock valued at $210,055,000 after acquiring an additional 1,043,885 shares in 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.