American Electric Power (NASDAQ:AEP) Given New $99.00 Price Target at BMO Capital Markets

American Electric Power (NASDAQ:AEP) had its target price boosted by BMO Capital Markets from $95.00 to $99.00 in a report released on Tuesday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Other analysts also recently issued reports about the company. UBS Group downgraded American Electric Power from a neutral rating to a sell rating and cut their target price for the company from $86.00 to $83.00 in a research report on Monday, March 11th. Wells Fargo & Company increased their price objective on shares of American Electric Power from $84.00 to $89.00 and gave the stock an equal weight rating in a research note on Wednesday, May 1st. Scotiabank boosted their target price on shares of American Electric Power from $86.00 to $90.00 and gave the company a sector outperform rating in a research report on Wednesday, May 1st. Royal Bank of Canada increased their price target on shares of American Electric Power from $90.00 to $100.00 and gave the stock an outperform rating in a research report on Friday, May 3rd. Finally, LADENBURG THALM/SH SH downgraded shares of American Electric Power from a neutral rating to a sell rating and lowered their price objective for the company from $75.50 to $73.00 in a research report on Friday, March 8th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $88.43.

American Electric Power Trading Up 0.1 %

Shares of American Electric Power stock opened at $92.67 on Tuesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.37 and a current ratio of 0.54. The firm has a 50-day moving average of $85.54 and a 200-day moving average of $81.99. American Electric Power has a 52-week low of $69.38 and a 52-week high of $92.97. The stock has a market cap of $48.85 billion, a PE ratio of 17.19, a PEG ratio of 2.84 and a beta of 0.50.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The firm had revenue of $5 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same quarter in the prior year, the business posted $1.11 EPS. The business’s revenue was up 6.4% compared to the same quarter last year. As a group, sell-side analysts forecast that American Electric Power will post 5.58 EPS for the current year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be given a $0.88 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $3.52 annualized dividend and a yield of 3.80%. American Electric Power’s dividend payout ratio is presently 65.31%.

Institutional Investors Weigh In On American Electric Power

Hedge funds have recently added to or reduced their stakes in the business. Frazier Financial Advisors LLC acquired a new stake in American Electric Power in the fourth quarter valued at $26,000. Denali Advisors LLC bought a new position in shares of American Electric Power during the first quarter worth about $26,000. Rise Advisors LLC acquired a new position in shares of American Electric Power in the first quarter worth approximately $27,000. YHB Investment Advisors Inc. bought a new stake in American Electric Power in the first quarter valued at approximately $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in American Electric Power during the 4th quarter valued at approximately $32,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

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.