American Electric Power (NASDAQ:AEP) Price Target Raised to $109.00

American Electric Power (NASDAQ:AEP) had its price objective increased by Citigroup from $102.00 to $109.00 in a research report report published on Wednesday morning, MarketBeat.com reports. The firm currently has a neutral rating on the stock.

Several other equities research analysts have also weighed in on AEP. Wells Fargo & Company increased their price objective on shares of American Electric Power from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Guggenheim boosted their price objective on American Electric Power from $109.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday. Bank of America increased their target price on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. Barclays upped their price target on shares of American Electric Power from $95.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 22nd. Finally, Morgan Stanley set a $114.00 price objective on shares of American Electric Power and gave the company an “overweight” rating in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $105.77.

American Electric Power Stock Down 0.5 %

AEP stock opened at $104.68 on Wednesday. The company has a market capitalization of $55.87 billion, a P/E ratio of 18.69, a PEG ratio of 2.97 and a beta of 0.45. The firm has a 50 day simple moving average of $105.65 and a 200-day simple moving average of $100.26. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. American Electric Power has a twelve month low of $85.93 and a twelve month high of $110.48.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.14. The business had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.33 billion. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.27 EPS. On average, equities research analysts predict that American Electric Power will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Friday, May 9th. American Electric Power’s dividend payout ratio is 66.43%.

Institutional Trading of American Electric Power

A number of hedge funds have recently made changes to their positions in AEP. EQ Wealth Advisors LLC acquired a new position in American Electric Power in the 1st quarter worth about $25,000. Bank of New Hampshire bought a new position in American Electric Power during the first quarter valued at about $28,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of American Electric Power in the fourth quarter worth about $25,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of American Electric Power during the 1st quarter valued at about $33,000. Finally, Fourth Dimension Wealth LLC bought a new position in shares of American Electric Power in the 4th quarter valued at approximately $28,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

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.