American Electric Power (NASDAQ:AEP) Given New $108.00 Price Target at BMO Capital Markets

American Electric Power (NASDAQ:AEP) had its target price boosted by BMO Capital Markets from $104.00 to $108.00 in a report published on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

AEP has been the topic of a number of other reports. Jefferies Financial Group assumed coverage on American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 price target on the stock. Barclays cut their target price on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 26th. Scotiabank lifted their price target on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Evercore ISI cut their price objective on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. boosted their target price on American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, American Electric Power has a consensus rating of “Hold” and a consensus target price of $98.20.

American Electric Power Stock Down 1.6 %

American Electric Power stock opened at $98.22 on Monday. The firm has a market cap of $52.26 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 2.88 and a beta of 0.55. American Electric Power has a 52-week low of $75.22 and a 52-week high of $105.18. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. The firm has a 50 day moving average price of $98.72 and a two-hundred day moving average price of $95.82.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a $0.93 dividend. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.

Institutional Investors Weigh In On American Electric Power

Several institutional investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB bought a new stake in American Electric Power during the 3rd quarter valued at $589,000. Sfmg LLC purchased a new position in American Electric Power during the third quarter valued at approximately $221,000. World Investment Advisors LLC increased its holdings in shares of American Electric Power by 127.8% in the third quarter. World Investment Advisors LLC now owns 5,539 shares of the company’s stock worth $568,000 after purchasing an additional 3,108 shares during the period. Tudor Financial Inc. purchased a new stake in shares of American Electric Power in the third quarter worth $1,331,000. Finally, Chelsea Counsel Co. boosted its stake in American Electric Power by 46.1% during the third quarter. Chelsea Counsel Co. now owns 1,110 shares of the company’s stock valued at $114,000 after buying an additional 350 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.

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.