BMO Capital Markets Issues Positive Forecast for American Electric Power (NASDAQ:AEP) Stock Price

American Electric Power (NASDAQ:AEP) had its target price hoisted by BMO Capital Markets from $123.00 to $125.00 in a research note issued to investors on Tuesday morning,MarketScreener reports. They currently have a market perform rating on the stock.

A number of other equities analysts also recently issued reports on AEP. JPMorgan Chase & Co. increased their price target on American Electric Power from $121.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. TD Cowen upgraded American Electric Power to a “strong-buy” rating in a research report on Thursday, October 30th. Raymond James Financial reissued an “outperform” rating on shares of American Electric Power in a report on Thursday, October 30th. Citigroup upped their price objective on shares of American Electric Power from $111.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Finally, Scotiabank lifted their target price on shares of American Electric Power from $121.00 to $131.00 and gave the company a “sector perform” rating in a research report on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $127.39.

American Electric Power Stock Up 1.2%

AEP stock opened at $119.43 on Tuesday. American Electric Power has a one year low of $97.32 and a one year high of $124.80. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.53 and a current ratio of 0.69. The firm’s fifty day moving average is $117.36 and its 200 day moving average is $114.79. The firm has a market cap of $63.79 billion, a PE ratio of 17.41, a P/E/G ratio of 2.81 and a beta of 0.63.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Wednesday, October 29th. The company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.01). American Electric Power had a return on equity of 11.00% and a net margin of 17.23%.The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the previous year, the company earned $1.85 earnings per share. The company’s revenue was up 10.9% compared to the same quarter last year. On average, research analysts forecast that American Electric Power will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th will be given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, February 10th. American Electric Power’s dividend payout ratio is 55.39%.

Insiders Place Their Bets

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $115.07, for a total transaction of $575,350.00. Following the completion of the sale, the director owned 25,898 shares of the company’s stock, valued at approximately $2,980,082.86. This represents a 16.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.07% of the company’s stock.

Institutional Investors Weigh In On American Electric Power

Large investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. acquired a new position in American Electric Power during the third quarter worth $26,000. Meeder Asset Management Inc. acquired a new stake in shares of American Electric Power during the 3rd quarter worth about $26,000. Dogwood Wealth Management LLC raised its holdings in American Electric Power by 330.2% in the 3rd quarter. Dogwood Wealth Management LLC now owns 228 shares of the company’s stock valued at $26,000 after buying an additional 175 shares during the period. Optima Capital LLC acquired a new position in American Electric Power in the fourth quarter valued at about $26,000. Finally, Advantage Trust Co boosted its stake in American Electric Power by 57.1% during the second quarter. Advantage Trust Co now owns 275 shares of the company’s stock worth $29,000 after buying an additional 100 shares during the period. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Company Profile

American Electric Power (NASDAQ: AEP) is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.