American Electric Power (NASDAQ:AEP) Given New $111.00 Price Target at BMO Capital Markets

American Electric Power (NASDAQ:AEP) had its target price raised by BMO Capital Markets from $107.00 to $111.00 in a report issued on Wednesday morning, MarketBeat reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts have also recently commented on the company. Bank of America raised their target price on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, March 18th. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $105.00 to $102.00 in a research report on Thursday, December 12th. Morgan Stanley raised their target price on shares of American Electric Power from $108.00 to $113.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Barclays dropped their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $102.00 target price (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $100.77.

American Electric Power Stock Performance

Shares of NASDAQ AEP opened at $103.90 on Wednesday. The firm’s 50-day moving average price is $102.42 and its 200-day moving average price is $99.09. American Electric Power has a 52-week low of $79.16 and a 52-week high of $109.52. The company has a market cap of $55.45 billion, a PE ratio of 18.55, a PEG ratio of 2.97 and a beta of 0.50. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Thursday, February 13th. The company reported $1.24 EPS for the quarter, hitting analysts’ consensus estimates of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same period in the prior year, the firm posted $1.23 earnings per share. As a group, analysts anticipate that American Electric Power will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a $0.93 dividend. The ex-dividend date was Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.58%. American Electric Power’s dividend payout ratio is currently 66.43%.

Hedge Funds Weigh In On American Electric Power

Several institutional investors have recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new stake in shares of American Electric Power in the 3rd quarter worth about $25,000. Skandinaviska Enskilda Banken AB publ bought a new stake in American Electric Power during the fourth quarter worth approximately $25,000. Fourth Dimension Wealth LLC purchased a new stake in American Electric Power during the fourth quarter valued at approximately $28,000. Fairway Wealth LLC bought a new stake in shares of American Electric Power in the 4th quarter valued at approximately $32,000. Finally, Safe Harbor Fiduciary LLC purchased a new position in shares of American Electric Power in the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

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.