American Electric Power (NASDAQ:AEP) Given New $104.00 Price Target at BMO Capital Markets

American Electric Power (NASDAQ:AEP) had its price target reduced by BMO Capital Markets from $111.00 to $104.00 in a report published on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts also recently issued reports on the company. Guggenheim lifted their price objective on American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Morgan Stanley upped 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 note on Wednesday, September 25th. Wells Fargo & Company dropped their price objective on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday. Barclays upped their target price 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, Bank of America raised their price target 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, American Electric Power has an average rating of “Hold” and a consensus target price of $98.27.

American Electric Power Price Performance

Shares of American Electric Power stock traded up $0.18 during trading on Thursday, reaching $96.51. 1,448,583 shares of the stock traded hands, compared to its average volume of 3,149,102. American Electric Power has a 52-week low of $74.97 and a 52-week high of $105.18. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48. The business has a fifty day simple moving average of $100.59 and a two-hundred day simple moving average of $94.79. The company has a market capitalization of $51.35 billion, a price-to-earnings ratio of 19.28, a P/E/G ratio of 2.81 and a beta of 0.55.

American Electric Power Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.93 per share. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.85%. The ex-dividend date is Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) is presently 70.12%.

Hedge Funds Weigh In On American Electric Power

Institutional investors have recently made changes to their positions in the company. Pathway Financial Advisers LLC increased its position in American Electric Power by 10,177.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock valued at $203,399,000 after purchasing an additional 1,963,154 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of American Electric Power by 542.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock valued at $193,541,000 after purchasing an additional 1,927,234 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of American Electric Power by 221.9% during the first quarter. National Bank of Canada FI now owns 1,715,346 shares of the company’s stock valued at $157,140,000 after purchasing an additional 1,182,451 shares in the last quarter. Zimmer Partners LP increased its holdings in American Electric Power by 578.2% during the first quarter. Zimmer Partners LP now owns 975,000 shares of the company’s stock valued at $83,948,000 after buying an additional 831,235 shares during the period. Finally, Lazard Asset Management LLC raised its stake in American Electric Power by 9.9% in the first quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock worth $739,303,000 after buying an additional 776,965 shares in the last quarter. Hedge funds and other institutional investors 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.