BMO Capital Markets Increases American Electric Power (NASDAQ:AEP) Price Target to $114.00

by · The Cerbat Gem

American Electric Power (NASDAQ:AEP – Free Report) had its price objective raised by BMO Capital Markets from $109.00 to $114.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts have also recently commented on the company. Bank of America increased their price target on American Electric Power from $97.00 to $98.00 and gave the company an underperform rating in a report on Thursday, August 29th. Morgan Stanley raised their target price on American Electric Power from $102.00 to $108.00 and gave the stock an overweight rating in a research note on Wednesday, September 25th. Jefferies Financial Group initiated coverage on American Electric Power in a research note on Friday, September 20th. They set a hold rating and a $107.00 target price for the company. Scotiabank raised their target price on American Electric Power from $99.00 to $108.00 and gave the stock a sector outperform rating in a research note on Tuesday, August 20th. Finally, Guggenheim raised their target price on American Electric Power from $81.00 to $83.00 and gave the stock a neutral rating in a research note on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, American Electric Power currently has an average rating of Hold and a consensus price target of $96.79.

Read Our Latest Stock Report on American Electric Power

American Electric Power Price Performance

NASDAQ:AEP opened at $100.28 on Thursday. American Electric Power has a one year low of $69.38 and a one year high of $105.18. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. The stock has a market cap of $52.86 billion, a PE ratio of 18.60, a P/E/G ratio of 2.93 and a beta of 0.54. The stock has a 50 day moving average price of $100.37 and a 200 day moving average price of $92.30.

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

American Electric Power Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued 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 of this dividend was Friday, August 9th. American Electric Power’s dividend payout ratio (DPR) is 65.31%.

Institutional Trading of American Electric Power

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. HHM Wealth Advisors LLC increased its position in shares of American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares in the last quarter. E Fund Management Co. Ltd. increased its position in shares of American Electric Power by 2.0% during the second quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock worth $464,000 after purchasing an additional 105 shares in the last quarter. Bank of Stockton increased its position in shares of American Electric Power by 2.2% during the second quarter. Bank of Stockton now owns 5,062 shares of the company’s stock worth $444,000 after purchasing an additional 111 shares in the last quarter. Richardson Financial Services Inc. increased its position in shares of American Electric Power by 3.9% during the first quarter. Richardson Financial Services Inc. now owns 3,084 shares of the company’s stock worth $266,000 after purchasing an additional 115 shares in the last quarter. Finally, Addison Advisors LLC increased its position in shares of American Electric Power by 14.8% during the second quarter. Addison Advisors LLC now owns 902 shares of the company’s stock worth $79,000 after purchasing an additional 116 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Company Profile

(Get Free Report)

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.

Featured Articles