Barclays Raises American Electric Power (NASDAQ:AEP) Price Target to $100.00

by · The Cerbat Gem

American Electric Power (NASDAQ:AEP – Free Report) had its price target increased by Barclays from $96.00 to $100.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an equal weight rating on the stock.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. boosted their price objective on American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Morgan Stanley upped their price target on American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group started coverage on American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 price target for the company. Guggenheim upped their price target on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, Bank of America upped their price target on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, American Electric Power currently has an average rating of “Hold” and a consensus target price of $98.14.

Check Out Our Latest Stock Analysis on AEP

American Electric Power Stock Down 0.4 %

Shares of NASDAQ AEP opened at $100.91 on Tuesday. The firm’s 50-day simple moving average is $100.37 and its 200 day simple moving average is $93.18. The company has a market cap of $53.19 billion, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. American Electric Power has a 12-month low of $72.01 and a 12-month high of $105.18.

American Electric Power (NASDAQ:AEP – Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.02. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.13 EPS. On average, research analysts expect that American Electric Power will post 5.6 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $0.88 dividend. The ex-dividend date was Friday, August 9th. This represents a $3.52 annualized dividend and a dividend yield of 3.49%. American Electric Power’s dividend payout ratio is presently 65.31%.

Hedge Funds Weigh In On American Electric Power

Several hedge funds and other institutional investors have recently made changes to their positions in AEP. HHM Wealth Advisors LLC boosted its position in American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares during the period. Denali Advisors LLC bought a new position in American Electric Power during the first quarter worth $26,000. Rise Advisors LLC bought a new position in American Electric Power during the first quarter worth $27,000. LRI Investments LLC bought a new position in American Electric Power during the first quarter worth $37,000. Finally, Briaud Financial Planning Inc boosted its position in American Electric Power by 52.1% during the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after purchasing an additional 150 shares during the period. 75.24% of the stock is owned by institutional investors.

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.

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