American Electric Power (NASDAQ:AEP) Receives “Neutral” Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their neutral rating on shares of American Electric Power (NASDAQ:AEP) in a research report report published on Thursday, Marketbeat Ratings reports. They currently have a $102.00 target price on the stock, down from their previous target price of $109.00.

Several other equities research analysts have also commented on the stock. Bank of America lifted their price target on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Morgan Stanley reduced their target price on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Wells Fargo & Company dropped their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Jefferies Financial Group began coverage on American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective for the company. Finally, Scotiabank raised their target price on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, American Electric Power has a consensus rating of “Hold” and an average target price of $97.13.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $92.71 on Thursday. 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. 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 has a 52 week low of $75.22 and a 52 week high of $105.18. The firm’s 50 day moving average is $97.50 and its two-hundred day moving average is $96.11.

American Electric Power Increases Dividend

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

Institutional Investors Weigh In On American Electric Power

A number of hedge funds have recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC raised its stake in shares of 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 worth $203,399,000 after buying an additional 1,963,154 shares in the last quarter. Janus Henderson Group PLC raised its position in American Electric Power by 109.5% in the third quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock worth $385,079,000 after acquiring an additional 1,962,125 shares in the last quarter. State Street Corp lifted its holdings in American Electric Power by 4.3% in the third quarter. State Street Corp now owns 26,902,755 shares of the company’s stock valued at $2,760,223,000 after acquiring an additional 1,114,954 shares during the period. FMR LLC lifted its holdings in American Electric Power by 18.8% in the third quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after acquiring an additional 1,087,163 shares during the period. Finally, Zacks Investment Management purchased a new stake in shares of American Electric Power during the 3rd quarter worth $80,207,000. Institutional investors and hedge funds 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.