American Electric Power (NASDAQ:AEP) Price Target Increased to $98.00 by Analysts at Morgan Stanley

American Electric Power (NASDAQ:AEPFree Report) had its price target lifted by Morgan Stanley from $91.00 to $98.00 in a report published on Tuesday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Other research analysts have also issued research reports about the stock. Scotiabank upped their price target on shares of American Electric Power from $86.00 to $90.00 and gave the company a sector outperform rating in a research note on Wednesday, May 1st. Cfra reissued a buy rating and issued a $92.00 price objective (up previously from $90.00) on shares of American Electric Power in a report on Tuesday, February 27th. LADENBURG THALM/SH SH downgraded shares of American Electric Power from a neutral rating to a sell rating and cut their price objective for the company from $75.50 to $73.00 in a report on Friday, March 8th. Barclays boosted their price objective on shares of American Electric Power from $84.00 to $88.00 and gave the company an equal weight rating in a report on Thursday, May 2nd. Finally, BMO Capital Markets upped their price target on shares of American Electric Power from $95.00 to $99.00 and gave the stock an outperform rating in a report on Tuesday, May 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, American Electric Power currently has an average rating of Hold and an average price target of $88.64.

Get Our Latest Analysis on AEP

American Electric Power Trading Down 0.4 %

Shares of NASDAQ AEP opened at $88.62 on Tuesday. The stock has a market cap of $46.71 billion, a price-to-earnings ratio of 16.44, a P/E/G ratio of 2.63 and a beta of 0.50. American Electric Power has a twelve month low of $69.38 and a twelve month high of $93.44. The company’s fifty day moving average is $86.60 and its 200-day moving average is $82.66. The company has a quick ratio of 0.37, a current ratio of 0.54 and a debt-to-equity ratio of 1.50.

American Electric Power (NASDAQ:AEPGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.25 by $0.02. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The business had revenue of $5 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same period in the previous year, the firm posted $1.11 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. Equities research analysts predict that American Electric Power will post 5.58 EPS for the current year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Thursday, May 9th. American Electric Power’s payout ratio is currently 65.31%.

Institutional Trading of American Electric Power

A number of large investors have recently added to or reduced their stakes in AEP. Vanguard Group Inc. increased its stake in shares of American Electric Power by 0.8% in the first quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock worth $4,273,181,000 after purchasing an additional 405,114 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of American Electric Power by 14.4% in the 3rd quarter. Wellington Management Group LLP now owns 28,591,562 shares of the company’s stock worth $2,150,657,000 after acquiring an additional 3,589,451 shares during the last quarter. Morgan Stanley increased its stake in shares of American Electric Power by 4.1% in the third quarter. Morgan Stanley now owns 14,892,850 shares of the company’s stock worth $1,120,240,000 after buying an additional 587,145 shares during the period. Invesco Ltd. increased its stake in shares of American Electric Power by 13.7% in the third quarter. Invesco Ltd. now owns 9,798,204 shares of the company’s stock worth $737,021,000 after buying an additional 1,181,706 shares during the period. Finally, Lazard Asset Management LLC increased its position in American Electric Power by 9.9% during the 1st quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock valued at $739,303,000 after purchasing an additional 776,965 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

About American Electric Power

(Get Free Report)

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.

Further Reading

Analyst Recommendations for American Electric Power (NASDAQ:AEP)

Receive News & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.