American Electric Power (NASDAQ:AEP) PT Raised to $99.00

American Electric Power (NASDAQ:AEP) had its target price boosted by Scotiabank from $90.00 to $99.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a sector outperform rating on the stock.

A number of other research firms also recently commented on AEP. Guggenheim raised their price objective on American Electric Power from $81.00 to $83.00 and gave the stock a neutral rating in a report on Monday, July 22nd. BMO Capital Markets raised their target price on American Electric Power from $100.00 to $104.00 and gave the company an outperform rating in a report on Monday, July 29th. StockNews.com upgraded American Electric Power from a sell rating to a hold rating in a report on Tuesday, May 7th. Barclays raised their target price on American Electric Power from $84.00 to $88.00 and gave the company an equal weight rating in a report on Thursday, May 2nd. Finally, LADENBURG THALM/SH SH upgraded American Electric Power from a sell rating to a neutral rating and raised their target price for the company from $73.00 to $86.00 in a report on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $90.46.

American Electric Power Stock Performance

NASDAQ AEP opened at $101.79 on Wednesday. The business’s 50-day moving average price is $90.48 and its 200 day moving average price is $86.04. American Electric Power has a twelve month low of $69.38 and a twelve month high of $104.35. The company has a market capitalization of $54.16 billion, a PE ratio of 18.88, a price-to-earnings-growth ratio of 2.92 and a beta of 0.53. The company has a current ratio of 0.65, a quick ratio of 0.37 and a debt-to-equity ratio of 1.53.

American Electric Power (NASDAQ:AEP) last released its earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.02. The firm had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.13 earnings per share. On average, research analysts predict that American Electric Power will post 5.59 earnings per share for the current year.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be paid a dividend of $0.88 per share. The ex-dividend date is Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a yield of 3.46%. American Electric Power’s dividend payout ratio (DPR) is presently 65.31%.

Insider Buying and Selling at American Electric Power

In other American Electric Power news, EVP Antonio P. Smyth sold 4,898 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total transaction of $440,820.00. Following the completion of the sale, the executive vice president now owns 6,446 shares in the company, valued at approximately $580,140. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Antonio P. Smyth sold 4,898 shares of American Electric Power stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total value of $440,820.00. Following the completion of the transaction, the executive vice president now owns 6,446 shares in the company, valued at approximately $580,140. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Therace Risch 5,274 shares of American Electric Power stock in a transaction dated Tuesday, July 30th. The disclosure for this trade can be found here. 0.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of American Electric Power by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock worth $4,273,181,000 after purchasing an additional 405,114 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of American Electric Power by 9.9% in the 1st quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock worth $739,303,000 after purchasing an additional 776,965 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of American Electric Power by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,983,393 shares of the company’s stock worth $242,311,000 after purchasing an additional 147,826 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of American Electric Power by 67.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 2,586,250 shares of the company’s stock worth $210,055,000 after purchasing an additional 1,043,885 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of American Electric Power by 542.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock worth $193,541,000 after purchasing an additional 1,927,234 shares during the last quarter. Institutional investors and hedge funds 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.