American Electric Power (NASDAQ:AEP) Given New $116.00 Price Target at Morgan Stanley

American Electric Power (NASDAQ:AEPGet Rating) had its target price lowered by Morgan Stanley from $118.00 to $116.00 in a research note released on Thursday morning, Stock Target Advisor reports. The brokerage currently has an overweight rating on the stock.

Several other analysts have also recently commented on the stock. Evercore ISI increased their price target on shares of American Electric Power to $107.00 in a research note on Monday, August 15th. Credit Suisse Group increased their price objective on shares of American Electric Power from $103.00 to $105.00 and gave the company an outperform rating in a report on Thursday, July 28th. Finally, Citigroup increased their price objective on shares of American Electric Power from $94.00 to $99.00 in a report on Thursday, July 28th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $105.43.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $98.88 on Thursday. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $50.80 billion, a price-to-earnings ratio of 19.43, a P/E/G ratio of 3.27 and a beta of 0.34. American Electric Power has a 1-year low of $80.22 and a 1-year high of $105.60. The firm’s 50-day moving average price is $100.41 and its two-hundred day moving average price is $98.98.

American Electric Power (NASDAQ:AEPGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.01. The firm had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $3.98 billion. American Electric Power had a net margin of 14.39% and a return on equity of 10.46%. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.18 earnings per share. On average, equities analysts predict that American Electric Power will post 4.99 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Wednesday, August 10th were issued a $0.78 dividend. The ex-dividend date of this dividend was Tuesday, August 9th. This represents a $3.12 annualized dividend and a yield of 3.16%. American Electric Power’s dividend payout ratio (DPR) is presently 61.30%.

Institutional Investors Weigh In On American Electric Power

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of American Electric Power by 5.4% during the first quarter. Vanguard Group Inc. now owns 45,377,335 shares of the company’s stock worth $4,527,297,000 after acquiring an additional 2,305,001 shares during the period. State Street Corp raised its holdings in shares of American Electric Power by 8.8% during the first quarter. State Street Corp now owns 27,777,603 shares of the company’s stock worth $2,771,371,000 after acquiring an additional 2,256,671 shares during the period. BlackRock Inc. raised its holdings in shares of American Electric Power by 4.8% during the fourth quarter. BlackRock Inc. now owns 41,461,321 shares of the company’s stock worth $3,688,814,000 after acquiring an additional 1,910,807 shares during the period. Macquarie Group Ltd. raised its holdings in shares of American Electric Power by 64.0% during the second quarter. Macquarie Group Ltd. now owns 2,859,696 shares of the company’s stock worth $204,634,000 after acquiring an additional 1,116,136 shares during the period. Finally, Jennison Associates LLC acquired a new stake in shares of American Electric Power during the first quarter worth $100,500,000. 74.70% of the stock is currently owned by institutional investors and hedge funds.

About American Electric Power

(Get Rating)

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.

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