American Electric Power (NASDAQ:AEP) PT Lowered to $86.00 at Scotiabank

American Electric Power (NASDAQ:AEP) had its target price trimmed by Scotiabank from $92.00 to $86.00 in a research note published on Monday morning, Benzinga reports. The firm currently has a sector outperform rating on the stock.

Other equities research analysts have also issued research reports about the company. Guggenheim lowered American Electric Power from a buy rating to a neutral rating and set a $81.00 target price for the company. in a research note on Monday, January 22nd. Barclays upped their price target on American Electric Power from $83.00 to $84.00 and gave the company an equal weight rating in a research report on Monday, April 15th. StockNews.com lowered American Electric Power from a hold rating to a sell rating in a research report on Friday, March 15th. Mizuho lowered American Electric Power from a buy rating to a neutral rating and set a $83.00 price target for the company. in a research report on Thursday, January 11th. Finally, BMO Capital Markets upped their price target on American Electric Power from $87.00 to $88.00 and gave the company an outperform rating in a research report on Tuesday, February 27th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, American Electric Power currently has a consensus rating of Hold and an average target price of $86.08.

American Electric Power Price Performance

AEP opened at $86.37 on Monday. The stock has a 50-day moving average price of $83.34 and a 200-day moving average price of $80.29. American Electric Power has a 12-month low of $69.38 and a 12-month high of $94.73. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $45.48 billion, a P/E ratio of 20.32, a PEG ratio of 3.00 and a beta of 0.51.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $5.12 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. American Electric Power’s revenue for the quarter was down 6.1% compared to the same quarter last year. Equities analysts predict that American Electric Power will post 5.54 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.88 per share. The ex-dividend date is Thursday, May 9th. This represents a $3.52 annualized dividend and a yield of 4.08%. American Electric Power’s dividend payout ratio is 82.82%.

Hedge Funds Weigh In On American Electric Power

Several hedge funds and other institutional investors have recently modified their holdings of the company. FSC Wealth Advisors LLC raised its holdings in American Electric Power by 222.0% in the 3rd quarter. FSC Wealth Advisors LLC now owns 351 shares of the company’s stock worth $26,000 after purchasing an additional 242 shares during the period. Frazier Financial Advisors LLC bought a new position in American Electric Power in the 4th quarter worth $26,000. Denali Advisors LLC bought a new position in American Electric Power in the 1st quarter worth $26,000. Rise Advisors LLC bought a new position in American Electric Power in the 1st quarter worth $27,000. Finally, Wetzel Investment Advisors Inc. bought a new position in American Electric Power in the 4th quarter worth $32,000. 75.24% of the stock is owned by 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.