American Electric Power (NASDAQ:AEP) Stock Rating Upgraded by Guggenheim

Guggenheim upgraded shares of American Electric Power (NASDAQ:AEP) from a neutral rating to a buy rating in a research report report published on Thursday, Marketbeat.com reports.

A number of other research firms have also weighed in on AEP. Bank of America upgraded shares of American Electric Power from an “underperform” rating to a “buy” rating and upped their price target for the stock from $98.00 to $104.00 in a research report on Monday, January 13th. Wells Fargo & Company decreased their price objective on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $102.00 price objective (down from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Evercore ISI lowered their target price on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. Finally, UBS Group boosted their price objective on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $98.00.

American Electric Power Stock Performance

Shares of NASDAQ AEP opened at $97.47 on Thursday. American Electric Power has a 12-month low of $75.22 and a 12-month high of $105.18. The firm has a 50 day moving average of $94.76 and a 200 day moving average of $97.11. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $51.87 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s payout ratio is 74.55%.

Institutional Investors Weigh In On American Electric Power

Several large investors have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans raised its position in shares of American Electric Power by 10.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 26,743 shares of the company’s stock worth $2,346,000 after acquiring an additional 2,593 shares in the last quarter. Evergreen Capital Management LLC grew its stake in shares of American Electric Power by 1.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 7,695 shares of the company’s stock valued at $675,000 after purchasing an additional 133 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of American Electric Power in the second quarter valued at approximately $19,852,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in American Electric Power by 60.5% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 100,774 shares of the company’s stock worth $8,841,000 after buying an additional 37,988 shares during the last quarter. Finally, Toronto Dominion Bank lifted its stake in shares of American Electric Power by 55.0% in the 2nd quarter. Toronto Dominion Bank now owns 270,235 shares of the company’s stock worth $23,710,000 after acquiring an additional 95,838 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.