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

American Electric Power (NASDAQ:AEP) had its price objective lowered by BMO Capital Markets from $111.00 to $104.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other research analysts have also recently commented on AEP. Morgan Stanley upped their target price on American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Guggenheim upped their price objective on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Wells Fargo & Company decreased 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 report on Thursday. UBS Group upped their price target on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday. Finally, Barclays lifted their price objective on shares of American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $98.27.

American Electric Power Stock Performance

Shares of NASDAQ:AEP opened at $96.40 on Thursday. The company has a current ratio of 0.57, a quick ratio of 0.48 and a debt-to-equity ratio of 1.47. American Electric Power has a 12 month low of $74.97 and a 12 month high of $105.18. The company has a market capitalization of $51.30 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 2.74 and a beta of 0.55. The firm’s 50-day moving average is $100.51 and its 200 day moving average is $94.99.

American Electric Power Increases Dividend

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

Institutional Trading of American Electric Power

A number of hedge funds have recently added to or reduced their stakes in AEP. German American Bancorp Inc. increased its holdings in American Electric Power by 12.6% in the third quarter. German American Bancorp Inc. now owns 2,869 shares of the company’s stock valued at $294,000 after buying an additional 322 shares in the last quarter. Intech Investment Management LLC grew its position in shares of American Electric Power by 17.5% during the 3rd quarter. Intech Investment Management LLC now owns 47,653 shares of the company’s stock valued at $4,889,000 after acquiring an additional 7,114 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of American Electric Power by 695.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 90,155 shares of the company’s stock valued at $9,250,000 after purchasing an additional 78,828 shares in the last quarter. King Luther Capital Management Corp raised its holdings in American Electric Power by 10.7% in the 3rd quarter. King Luther Capital Management Corp now owns 6,924 shares of the company’s stock worth $710,000 after purchasing an additional 669 shares during the period. Finally, Cornerstone Advisors LLC boosted its position in American Electric Power by 1.2% during the third quarter. Cornerstone Advisors LLC now owns 33,200 shares of the company’s stock worth $3,406,000 after purchasing an additional 400 shares in the last quarter. 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.