Scotiabank Downgrades American Electric Power (NASDAQ:AEP) to Sector Perform

Scotiabank downgraded shares of American Electric Power (NASDAQ:AEP) from a sector outperform rating to a sector perform rating in a research report report published on Thursday, Marketbeat.com reports. The firm currently has $102.00 target price on the stock, down from their previous target price of $105.00.

A number of other equities research analysts also recently weighed in on AEP. Bank of America upped their target price on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Morgan Stanley cut their price objective on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. UBS Group lifted their target price on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. Evercore ISI cut their price target on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. Finally, Jefferies Financial Group initiated coverage on shares of American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, American Electric Power presently has a consensus rating of “Hold” and a consensus target price of $97.13.

American Electric Power Trading Down 0.2 %

Shares of NASDAQ:AEP opened at $92.71 on Thursday. The company has a 50 day moving average of $97.50 and a 200-day moving average of $96.11. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The firm has a market cap of $49.33 billion, a P/E ratio of 18.58, a P/E/G ratio of 2.70 and a beta of 0.55. American Electric Power has a twelve month low of $75.22 and a twelve month high of $105.18.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 4.01%. The ex-dividend date was Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is 74.55%.

Institutional Investors Weigh In On American Electric Power

Institutional investors have recently modified their holdings of the stock. HHM Wealth Advisors LLC raised its holdings in 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 buying an additional 103 shares in the last quarter. E Fund Management Co. Ltd. raised its stake in shares of American Electric Power by 2.0% in the 2nd quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after acquiring an additional 105 shares in the last quarter. XML Financial LLC lifted its holdings in American Electric Power by 3.8% in the 3rd quarter. XML Financial LLC now owns 2,921 shares of the company’s stock worth $300,000 after purchasing an additional 106 shares during the last quarter. Garrison Asset Management LLC boosted its position in American Electric Power by 0.6% during the third quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock worth $1,950,000 after purchasing an additional 109 shares during the period. Finally, Roanoke Asset Management Corp NY grew its stake in American Electric Power by 2.2% in the 3rd quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock valued at $516,000 after buying an additional 110 shares during the last quarter. Institutional investors and hedge funds 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.