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

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

AEP has been the topic of a number of other research reports. Scotiabank lowered shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $105.00 to $102.00 in a research report on Thursday, December 12th. Barclays cut their price objective on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 26th. Wells Fargo & Company decreased their target price on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. UBS Group upped their price target on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. Finally, Evercore ISI decreased their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $96.60.

American Electric Power Stock Performance

AEP opened at $93.51 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The stock’s 50 day moving average price is $94.72 and its two-hundred day moving average price is $96.56. The firm has a market capitalization of $49.76 billion, a P/E ratio of 18.74, a price-to-earnings-growth ratio of 2.70 and a beta of 0.56. American Electric Power has a 12-month low of $75.22 and a 12-month high of $105.18.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were given a dividend of $0.93 per share. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date was Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.98%. American Electric Power’s payout ratio is currently 74.55%.

Hedge Funds Weigh In On American Electric Power

Large investors have recently bought and sold shares of the business. HHM Wealth Advisors LLC lifted its stake in shares of American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares during the period. Legacy Investment Solutions LLC bought a new stake in American Electric Power in the third quarter valued at about $25,000. Safe Harbor Fiduciary LLC acquired a new position in American Electric Power in the third quarter valued at about $33,000. Reston Wealth Management LLC acquired a new position in shares of American Electric Power during the 3rd quarter worth about $48,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of American Electric Power in the 3rd quarter valued at about $50,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

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.