American Electric Power (NASDAQ:AEP) PT Raised to $104.00

American Electric Power (NASDAQ:AEP) had its price target lifted by Wells Fargo & Company from $98.00 to $104.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other analysts also recently commented on AEP. JPMorgan Chase & Co. raised their target price 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. BMO Capital Markets raised their price objective on American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Guggenheim upped their target price on American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Morgan Stanley lifted their price target on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Finally, Bank of America upped their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $98.43.

American Electric Power Trading Down 0.2 %

Shares of AEP stock opened at $100.69 on Wednesday. The company has a market cap of $53.08 billion, a P/E ratio of 18.68, a PEG ratio of 2.79 and a beta of 0.54. American Electric Power has a fifty-two week low of $72.01 and a fifty-two week high of $105.18. The stock has a 50 day simple moving average of $100.43 and a two-hundred day simple moving average of $93.29. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65.

American Electric Power (NASDAQ:AEP) last released its earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. American Electric Power’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.13 EPS. Research analysts forecast that American Electric Power will post 5.6 earnings per share for the current year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a $0.88 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.52 annualized dividend and a yield of 3.50%. American Electric Power’s dividend payout ratio (DPR) is 65.31%.

Hedge Funds Weigh In On American Electric Power

Several hedge funds have recently modified their holdings of AEP. 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 valued at $25,000 after acquiring an additional 103 shares during the last quarter. Denali Advisors LLC purchased a new stake in shares of American Electric Power during the 1st quarter valued at $26,000. Rise Advisors LLC bought a new stake in shares of American Electric Power during the 1st quarter worth $27,000. LRI Investments LLC boosted its holdings in shares of American Electric Power by 935.9% in the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after buying an additional 365 shares during the last quarter. Finally, Briaud Financial Planning Inc grew its position in American Electric Power by 52.1% during the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after buying an additional 150 shares during the period. Institutional investors own 75.24% of the company’s stock.

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.