Analysts Set American Electric Power Company, Inc. (NASDAQ:AEP) Target Price at $98.43

American Electric Power Company, Inc. (NASDAQ:AEP) has received an average rating of “Hold” from the fourteen brokerages that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, six have given a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $98.43.

Several research firms recently commented on AEP. Morgan Stanley boosted their price target on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Scotiabank increased their target price on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. lifted their price target on shares of American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. BMO Capital Markets increased 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 note on Thursday, October 3rd. Finally, Wells Fargo & Company boosted their target price on shares of American Electric Power from $98.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th.

American Electric Power Price Performance

AEP stock opened at $98.19 on Tuesday. The stock has a 50-day simple moving average of $100.68 and a 200-day simple moving average of $93.88. The firm has a market cap of $51.76 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. American Electric Power has a 1 year low of $74.37 and a 1 year high of $105.18.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.13 earnings per share. On average, equities analysts predict that American Electric Power will post 5.6 earnings per share for the current fiscal year.

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 paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.79%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) is presently 69.02%.

Hedge Funds Weigh In On American Electric Power

Several institutional investors have recently modified their holdings of the company. HHM Wealth Advisors LLC raised its stake 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 acquiring an additional 103 shares in the last quarter. E Fund Management Co. Ltd. raised its stake in shares of American Electric Power by 2.0% during the second quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after purchasing an additional 105 shares in the last quarter. Bank of Stockton lifted its holdings in American Electric Power by 2.2% in the second quarter. Bank of Stockton now owns 5,062 shares of the company’s stock worth $444,000 after purchasing an additional 111 shares during the period. First United Bank & Trust increased its stake in American Electric Power by 17.1% during the 3rd quarter. First United Bank & Trust now owns 766 shares of the company’s stock valued at $79,000 after buying an additional 112 shares during the period. Finally, Richardson Financial Services Inc. increased its stake in American Electric Power by 3.9% during the 1st quarter. Richardson Financial Services Inc. now owns 3,084 shares of the company’s stock valued at $266,000 after buying an additional 115 shares during the period. 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.