American Electric Power (NASDAQ:AEP) Price Target Raised to $90.00 at Scotiabank

American Electric Power (NASDAQ:AEP) had its price target raised by Scotiabank from $86.00 to $90.00 in a research note released on Wednesday, Benzinga reports. They currently have a sector outperform rating on the stock.

A number of other research firms also recently commented on AEP. Guggenheim downgraded American Electric Power from a buy rating to a neutral rating and set a $81.00 price objective for the company. in a report on Monday, January 22nd. Barclays upped their price target on shares of American Electric Power from $83.00 to $84.00 and gave the stock an equal weight rating in a research report on Monday, April 15th. UBS Group cut shares of American Electric Power from a neutral rating to a sell rating and decreased their price target for the stock from $86.00 to $83.00 in a research report on Monday, March 11th. Wells Fargo & Company upped their price target on shares of American Electric Power from $84.00 to $89.00 and gave the stock an equal weight rating in a research report on Wednesday. Finally, BMO Capital Markets upped their price objective on shares of American Electric Power from $93.00 to $95.00 and gave the company an outperform rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $87.07.

American Electric Power Trading Up 2.5 %

AEP stock opened at $88.15 on Wednesday. The company has a market cap of $46.42 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 3.06 and a beta of 0.51. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 1.49. The business has a fifty day simple moving average of $83.85 and a 200-day simple moving average of $80.72. American Electric Power has a 52 week low of $69.38 and a 52 week high of $92.89.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. The business had revenue of $5 billion during the quarter, compared to the consensus estimate of $5.02 billion. American Electric Power had a return on equity of 11.04% and a net margin of 11.64%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.11 EPS. On average, equities research analysts expect that American Electric Power will post 5.54 EPS for the current year.

American Electric Power Announces Dividend

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 issued a $0.88 dividend. The ex-dividend date is Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a yield of 3.99%. American Electric Power’s dividend payout ratio is currently 82.82%.

Hedge Funds Weigh In On American Electric Power

A number of large investors have recently bought and sold shares of AEP. Frazier Financial Advisors LLC bought a new position in American Electric Power in the fourth quarter worth about $26,000. Denali Advisors LLC bought a new position in American Electric Power in the first quarter worth about $26,000. Rise Advisors LLC bought a new position in American Electric Power in the first quarter worth about $27,000. YHB Investment Advisors Inc. bought a new position in American Electric Power in the first quarter worth about $29,000. Finally, Wetzel Investment Advisors Inc. bought a new position in American Electric Power in the fourth quarter worth about $32,000. Institutional investors own 75.24% of the company’s stock.

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.