BMO Capital Markets Increases American Electric Power (NASDAQ:AEP) Price Target to $104.00

American Electric Power (NASDAQ:AEP) had its target price hoisted by BMO Capital Markets from $100.00 to $104.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts have also issued reports on AEP. Guggenheim raised their price objective on American Electric Power from $81.00 to $83.00 and gave the stock a neutral rating in a report on Monday, July 22nd. Wells Fargo & Company increased their target price 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. LADENBURG THALM/SH SH upgraded shares of American Electric Power from a sell rating to a neutral rating and increased their target price for the stock from $73.00 to $86.00 in a research note on Thursday, June 6th. Royal Bank of Canada increased their target price on shares of American Electric Power from $90.00 to $100.00 and gave the stock an outperform rating in a research note on Friday, May 3rd. Finally, StockNews.com upgraded shares of American Electric Power from a sell rating to a hold rating in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $90.46.

American Electric Power Stock Performance

Shares of AEP stock opened at $101.24 on Monday. The stock’s 50-day moving average is $90.22 and its two-hundred day moving average is $85.86. The firm has a market cap of $53.37 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 2.83 and a beta of 0.53. American Electric Power has a 1 year low of $69.38 and a 1 year high of $101.37. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.37 and a current ratio of 0.54.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.02. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.74 billion. American Electric Power had a return on equity of 11.39% and a net margin of 13.52%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.13 earnings per share. Analysts predict that American Electric Power will post 5.59 earnings per share for the current year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be given a $0.88 dividend. The ex-dividend date is Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a yield of 3.48%. American Electric Power’s payout ratio is currently 65.31%.

Insider Activity at American Electric Power

In other news, EVP Antonio P. Smyth sold 4,898 shares of American Electric Power stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total transaction of $440,820.00. Following the completion of the sale, the executive vice president now directly owns 6,446 shares in the company, valued at approximately $580,140. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Antonio P. Smyth sold 4,898 shares of American Electric Power stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total transaction of $440,820.00. Following the completion of the sale, the executive vice president now directly owns 6,446 shares in the company, valued at approximately $580,140. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Therace Risch 5,274 shares of the stock in a transaction dated Tuesday, July 30th. The disclosure for this trade can be found here. 0.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Denali Advisors LLC purchased a new stake in American Electric Power in the 1st quarter worth approximately $26,000. Rise Advisors LLC purchased a new stake in American Electric Power in the 1st quarter worth approximately $27,000. Frazier Financial Advisors LLC purchased a new stake in American Electric Power in the 4th quarter worth approximately $26,000. YHB Investment Advisors Inc. purchased a new stake in American Electric Power in the 1st quarter worth approximately $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in American Electric Power in the 4th quarter worth approximately $32,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

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.