Bank of America Issues Positive Forecast for American Electric Power (NASDAQ:AEP) Stock Price

American Electric Power (NASDAQ:AEP) had its price target increased by Bank of America from $108.00 to $114.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued research reports about the stock. Morgan Stanley cut their price target on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Scotiabank cut shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $105.00 to $102.00 in a report on Thursday, December 12th. BMO Capital Markets cut their price target on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $102.00 price target (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Finally, Barclays dropped their target price on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $99.92.

American Electric Power Stock Up 0.3 %

Shares of NASDAQ AEP opened at $106.21 on Tuesday. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. American Electric Power has a 52 week low of $79.16 and a 52 week high of $109.52. The firm’s fifty day moving average is $101.66 and its 200 day moving average is $99.05. The company has a market cap of $56.68 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 2.97 and a beta of 0.50.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Thursday, February 13th. The company reported $1.24 EPS for the quarter, hitting the consensus estimate of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same period in the prior year, the business earned $1.23 EPS. On average, equities research analysts expect that American Electric Power will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend was Monday, February 10th. American Electric Power’s payout ratio is 66.43%.

Hedge Funds Weigh In On American Electric Power

Hedge funds have recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in American Electric Power in the 3rd quarter worth about $25,000. Skandinaviska Enskilda Banken AB publ purchased a new position in American Electric Power in the 4th quarter worth about $25,000. Fourth Dimension Wealth LLC purchased a new position in American Electric Power in the 4th quarter worth about $28,000. Fairway Wealth LLC purchased a new position in American Electric Power in the 4th quarter worth about $32,000. Finally, Safe Harbor Fiduciary LLC purchased a new position in American Electric Power in the 3rd quarter worth about $33,000. Institutional investors 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.