Scotiabank Trims American Electric Power (NASDAQ:AEP) Target Price to $86.00

American Electric Power (NASDAQ:AEP) had its target price cut by Scotiabank from $92.00 to $86.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a sector outperform rating on the stock.

A number of other analysts have also weighed in on the company. Barclays raised their target price on American Electric Power from $83.00 to $84.00 and gave the company an equal weight rating in a research note on Monday, April 15th. LADENBURG THALM/SH SH cut American Electric Power from a neutral rating to a sell rating and dropped their price objective for the stock from $75.50 to $73.00 in a report on Friday, March 8th. BMO Capital Markets boosted their price objective on American Electric Power from $87.00 to $88.00 and gave the stock an outperform rating in a report on Tuesday, February 27th. Mizuho cut American Electric Power from a buy rating to a neutral rating and set a $83.00 price objective for the company. in a report on Thursday, January 11th. Finally, StockNews.com lowered American Electric Power from a hold rating to a sell rating in a research report on Friday, March 15th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $86.08.

American Electric Power Stock Up 0.6 %

American Electric Power stock opened at $86.86 on Monday. The company has a 50-day simple moving average of $83.45 and a 200-day simple moving average of $80.33. The firm has a market capitalization of $45.74 billion, a P/E ratio of 20.44, a P/E/G ratio of 3.02 and a beta of 0.51. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.53. American Electric Power has a one year low of $69.38 and a one year high of $94.21.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.03). American Electric Power had a return on equity of 11.04% and a net margin of 11.64%. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $5.12 billion. During the same period in the previous year, the company earned $1.05 EPS. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, equities analysts expect that American Electric Power will post 5.55 earnings per share for the current year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date is Thursday, May 9th. American Electric Power’s payout ratio is currently 82.82%.

Institutional Investors Weigh In On American Electric Power

Institutional investors have recently bought and sold shares of the stock. Bogart Wealth LLC boosted its stake in American Electric Power by 7.8% during the 1st quarter. Bogart Wealth LLC now owns 1,650 shares of the company’s stock valued at $142,000 after purchasing an additional 119 shares during the last quarter. Personal CFO Solutions LLC boosted its stake in American Electric Power by 2.5% during the 4th quarter. Personal CFO Solutions LLC now owns 5,345 shares of the company’s stock valued at $434,000 after purchasing an additional 130 shares during the last quarter. BLB&B Advisors LLC boosted its stake in American Electric Power by 4.0% during the 4th quarter. BLB&B Advisors LLC now owns 3,405 shares of the company’s stock valued at $277,000 after purchasing an additional 131 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in American Electric Power by 4.4% during the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 3,150 shares of the company’s stock valued at $237,000 after purchasing an additional 132 shares during the last quarter. Finally, Southland Equity Partners LLC boosted its stake in American Electric Power by 4.2% during the 1st quarter. Southland Equity Partners LLC now owns 3,302 shares of the company’s stock valued at $284,000 after purchasing an additional 133 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

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.