American Electric Power (NASDAQ:AEP) Price Target Cut to $96.00 by Analysts at Evercore ISI

American Electric Power (NASDAQ:AEP) had its price objective decreased by Evercore ISI from $97.00 to $96.00 in a report issued on Thursday,Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

Several other equities analysts have also weighed in on the stock. BMO Capital Markets raised their price objective on shares of American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. raised their price objective on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Scotiabank raised their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Barclays raised their price objective on shares of American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $98.27.

American Electric Power Stock Performance

AEP stock opened at $96.40 on Thursday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.48 and a current ratio of 0.57. The stock has a market cap of $51.30 billion, a P/E ratio of 19.32, a P/E/G ratio of 2.74 and a beta of 0.55. The firm has a 50 day simple moving average of $100.51 and a 200 day simple moving average of $94.87. American Electric Power has a 52 week low of $74.97 and a 52 week high of $105.18.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be paid a $0.93 dividend. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.86%. American Electric Power’s dividend payout ratio is 70.54%.

Hedge Funds Weigh In On American Electric Power

A number of large investors have recently bought and sold shares of the company. HHM Wealth Advisors LLC lifted its holdings in American Electric Power by 57.2% during 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 last quarter. LRI Investments LLC raised its stake in American Electric Power by 935.9% in the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after purchasing an additional 365 shares in the last quarter. Briaud Financial Planning Inc raised its stake in American Electric Power by 52.1% in the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Naples Money Management LLC acquired a new position in American Electric Power in the second quarter valued at about $44,000. Finally, Opal Wealth Advisors LLC bought a new position in American Electric Power in the second quarter valued at about $48,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

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.