American Electric Power (NASDAQ:AEP) Price Target Lowered to $104.00 at Morgan Stanley

American Electric Power (NASDAQ:AEP) had its price objective trimmed by Morgan Stanley from $109.00 to $104.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities analysts have also weighed in on AEP. Scotiabank boosted their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Barclays boosted their price target on American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Evercore ISI lowered their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Wells Fargo & Company reduced their target price on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Finally, UBS Group upped their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $98.00.

American Electric Power Stock Up 0.5 %

AEP stock opened at $98.10 on Friday. 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 stock has a market capitalization of $52.20 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 2.82 and a beta of 0.55. American Electric Power has a one year low of $75.22 and a one year high of $105.18. The company has a fifty day moving average of $98.97 and a 200-day moving average of $95.59.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a dividend of $0.93 per share. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio is presently 74.55%.

Institutional Trading of American Electric Power

Institutional investors have recently made changes to their positions in the business. Pitcairn Co. grew its holdings in shares of American Electric Power by 6.3% during the first quarter. Pitcairn Co. now owns 3,291 shares of the company’s stock worth $283,000 after purchasing an additional 194 shares during the last quarter. CreativeOne Wealth LLC grew its stake in shares of American Electric Power by 21.6% during the first quarter. CreativeOne Wealth LLC now owns 7,750 shares of the company’s stock valued at $668,000 after purchasing an additional 1,375 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of American Electric Power by 26.1% in the first quarter. EP Wealth Advisors LLC now owns 8,857 shares of the company’s stock valued at $763,000 after purchasing an additional 1,833 shares in the last quarter. Advisors Asset Management Inc. raised its position in American Electric Power by 7.0% in the 1st quarter. Advisors Asset Management Inc. now owns 15,635 shares of the company’s stock worth $1,346,000 after purchasing an additional 1,024 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in shares of American Electric Power during the first quarter valued at $37,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

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.