Analysts Set American Electric Power Company, Inc. (NASDAQ:AEP) Price Target at $98.27

Shares of American Electric Power Company, Inc. (NASDAQ:AEP) have earned an average rating of “Hold” from the fifteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $98.27.

Several analysts have recently weighed in on AEP shares. Wells Fargo & Company lowered their target price on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Scotiabank lifted their price objective on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Guggenheim increased their target price on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Bank of America lifted their price target on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. increased 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 note on Friday, October 18th.

American Electric Power Price Performance

Shares of AEP stock opened at $96.49 on Friday. The firm has a fifty day simple moving average of $99.60 and a 200-day simple moving average of $95.32. The company has a market capitalization of $51.34 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 2.78 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. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a $0.93 dividend. The ex-dividend date is Friday, November 8th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.86%. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AEP. HHM Wealth Advisors LLC boosted 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 buying an additional 103 shares during the period. Legacy Investment Solutions LLC acquired a new position in American Electric Power during the 3rd quarter worth $25,000. Safe Harbor Fiduciary LLC bought a new position in shares of American Electric Power in the third quarter worth $33,000. LRI Investments LLC increased its holdings in shares of American Electric Power by 935.9% during 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 during the period. Finally, Briaud Financial Planning Inc raised its stake in shares of 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 purchasing an additional 150 shares in the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

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.