Guggenheim upgraded shares of American Electric Power (NASDAQ:AEP – Free Report) from a neutral rating to a buy rating in a research report released on Thursday, Marketbeat.com reports.
Other equities analysts have also issued research reports about the stock. Scotiabank lowered shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. Barclays reduced their target price on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 26th. Evercore ISI dropped their price target on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. BMO Capital Markets cut their price objective on American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $102.00 price objective (down from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, American Electric Power currently has an average rating of “Hold” and an average price target of $98.00.
View Our Latest Analysis on American Electric Power
American Electric Power Stock Performance
American Electric Power Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is 74.55%.
Institutional Trading of American Electric Power
Large investors have recently modified their holdings of the business. Grove Bank & Trust lifted its holdings in American Electric Power by 436.9% in the 4th quarter. Grove Bank & Trust now owns 7,092 shares of the company’s stock worth $654,000 after buying an additional 5,771 shares during the period. J2 Capital Management Inc purchased a new stake in American Electric Power in the fourth quarter worth $419,000. Secure Asset Management LLC lifted its stake in American Electric Power by 22.4% in the fourth quarter. Secure Asset Management LLC now owns 23,916 shares of the company’s stock worth $2,206,000 after acquiring an additional 4,370 shares during the period. Principal Financial Group Inc. boosted its holdings in American Electric Power by 3.1% in the third quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock valued at $65,667,000 after acquiring an additional 19,081 shares in the last quarter. Finally, New England Asset Management Inc. purchased a new position in American Electric Power during the 3rd quarter valued at $3,404,000. 75.24% of the stock is owned by institutional investors.
About American Electric Power
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.
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