American Electric Power (NASDAQ:AEP) Price Target Raised to $114.00

American Electric Power (NASDAQ:AEP) had its price target hoisted by Scotiabank from $102.00 to $114.00 in a report published on Thursday,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other equities research analysts have also weighed in on AEP. Raymond James Financial restated an “outperform” rating and set a $122.00 price objective (up previously from $115.00) on shares of American Electric Power in a research report on Thursday. Citigroup boosted their price objective on American Electric Power from $102.00 to $109.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. BMO Capital Markets boosted their price objective on American Electric Power from $111.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, April 21st. Guggenheim boosted their price objective on American Electric Power from $109.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company boosted their price objective on American Electric Power from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $111.29.

American Electric Power Price Performance

American Electric Power stock opened at $113.58 on Thursday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.31 and a current ratio of 0.55. American Electric Power has a 52 week low of $89.91 and a 52 week high of $114.38. The stock has a market capitalization of $60.74 billion, a P/E ratio of 16.61, a price-to-earnings-growth ratio of 3.02 and a beta of 0.40. The stock has a fifty day moving average of $104.61 and a 200-day moving average of $104.02.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.16. The business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.85 billion. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%. American Electric Power’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 EPS. On average, sell-side analysts expect that American Electric Power will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be given a dividend of $0.93 per share. The ex-dividend date is Friday, August 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.3%. American Electric Power’s dividend payout ratio is presently 54.39%.

Insider Activity

In related news, EVP David Matthew Feinberg sold 8,058 shares of the company’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total transaction of $819,820.92. Following the sale, the executive vice president owned 10,274 shares in the company, valued at $1,045,276.76. This represents a 43.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Quinton S. Lies sold 10,141 shares of the company’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $102.68, for a total value of $1,041,277.88. Following the sale, the executive vice president owned 9,658 shares in the company, valued at approximately $991,683.44. The trade was a 51.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,314 shares of company stock worth $3,508,293. 0.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On American Electric Power

Several institutional investors and hedge funds have recently made changes to their positions in AEP. Brighton Jones LLC boosted its position in shares of American Electric Power by 11.5% during the 4th quarter. Brighton Jones LLC now owns 10,601 shares of the company’s stock valued at $978,000 after purchasing an additional 1,095 shares in the last quarter. B. Metzler seel. Sohn & Co. AG raised its stake in American Electric Power by 7.3% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 18,982 shares of the company’s stock worth $1,751,000 after buying an additional 1,290 shares during the period. Diametric Capital LP acquired a new position in American Electric Power during the 4th quarter worth approximately $208,000. Trexquant Investment LP acquired a new position in American Electric Power during the 4th quarter worth approximately $3,258,000. Finally, RFG Bristol Wealth Advisors LLC acquired a new position in American Electric Power during the 4th quarter worth approximately $318,000. Institutional investors 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.