Brokerages Set American Electric Power Company, Inc. (NASDAQ:AEP) PT at $98.20

Shares of American Electric Power Company, Inc. (NASDAQ:AEP) have been given a consensus rating of “Hold” by the fifteen analysts that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $97.13.

AEP has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price objective on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. BMO Capital Markets raised their price objective on American Electric Power from $104.00 to $108.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Jefferies Financial Group assumed coverage on American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 target price on the stock. Scotiabank downgraded shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $105.00 to $102.00 in a research report on Thursday. Finally, Bank of America boosted their price target on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th.

American Electric Power Stock Performance

NASDAQ:AEP opened at $92.71 on Wednesday. The firm has a market capitalization of $49.33 billion, a P/E ratio of 18.58, a P/E/G ratio of 2.70 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 fifty day moving average of $97.50 and a 200-day moving average of $96.06. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date was Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is presently 74.55%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AEP. MainStreet Investment Advisors LLC grew its position in shares of American Electric Power by 13.2% during the 2nd quarter. MainStreet Investment Advisors LLC now owns 42,517 shares of the company’s stock valued at $3,730,000 after acquiring an additional 4,971 shares during the period. New England Asset Management Inc. bought a new position in American Electric Power during the third quarter valued at $3,404,000. Assenagon Asset Management S.A. increased its position in American Electric Power by 1,140.5% in the second quarter. Assenagon Asset Management S.A. now owns 456,686 shares of the company’s stock worth $40,070,000 after buying an additional 419,870 shares during the last quarter. ING Groep NV raised its stake in shares of American Electric Power by 244.3% in the third quarter. ING Groep NV now owns 294,515 shares of the company’s stock valued at $30,217,000 after buying an additional 208,974 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of American Electric Power by 29.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 197,195 shares of the company’s stock valued at $17,302,000 after buying an additional 45,167 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

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.