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

Shares of American Electric Power Company, Inc. (NASDAQ:AEP) have been given a consensus recommendation of “Hold” by the fifteen research firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $97.13.

Several research firms have issued reports on AEP. UBS Group increased their target price on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research report on Thursday, November 7th. Evercore ISI dropped their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. 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. Barclays lowered their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 26th. Finally, Jefferies Financial Group started coverage on shares of American Electric Power in a research note on Friday, September 20th. They set a “hold” rating and a $107.00 price objective for the company.

Institutional Investors Weigh In On American Electric Power

A number of large investors have recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC raised its stake in shares of American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after acquiring an additional 103 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in shares of American Electric Power during the 3rd quarter valued at $25,000. Safe Harbor Fiduciary LLC purchased a new position in American Electric Power in the 3rd quarter worth $33,000. LRI Investments LLC lifted its stake in American Electric Power by 935.9% in the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after purchasing an additional 365 shares during the last quarter. Finally, Briaud Financial Planning Inc boosted its position in American Electric Power by 52.1% during the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after buying an additional 150 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Performance

Shares of AEP stock opened at $92.71 on Wednesday. The firm’s 50 day moving average is $97.50 and its 200 day moving average is $96.06. The stock has a market capitalization of $49.33 billion, a P/E ratio of 18.58, a PEG ratio of 2.70 and a beta of 0.55. American Electric Power has a 12 month low of $75.22 and a 12 month high of $105.18. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.

American Electric Power Increases Dividend

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

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.