American Electric Power Company, Inc. (NASDAQ:AEP) Receives Average Recommendation of “Hold” from Brokerages

Shares of American Electric Power Company, Inc. (NASDAQ:AEP) have been given a consensus rating of “Hold” by the fifteen ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $97.13.

A number of research firms have weighed in on AEP. Bank of America increased their target price on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Wells Fargo & Company lowered their price objective on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Jefferies Financial Group began coverage on shares of American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 target price for the company. Scotiabank downgraded shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $105.00 to $102.00 in a research report on Thursday. Finally, Barclays cut their price objective on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 26th.

American Electric Power Price Performance

Shares of AEP opened at $92.71 on Wednesday. The firm has a market cap of $49.33 billion, a PE ratio of 18.58, a P/E/G ratio of 2.70 and a beta of 0.55. American Electric Power has a 1-year low of $75.22 and a 1-year high of $105.18. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The firm has a fifty day simple moving average of $97.50 and a two-hundred day simple moving average of $96.17.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 4.01%. The ex-dividend date was Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

Hedge Funds Weigh In On American Electric Power

Several hedge funds have recently modified their holdings of the stock. Wedmont Private Capital grew its holdings in American Electric Power by 6.6% during the 2nd quarter. Wedmont Private Capital now owns 4,789 shares of the company’s stock valued at $436,000 after buying an additional 297 shares in the last quarter. Diversified Trust Co grew its position in American Electric Power by 42.2% in the second quarter. Diversified Trust Co now owns 5,592 shares of the company’s stock worth $491,000 after acquiring an additional 1,660 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in American Electric Power by 29.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 197,195 shares of the company’s stock worth $17,302,000 after acquiring an additional 45,167 shares during the last quarter. ORG Partners LLC raised its position in American Electric Power by 774.1% during the second quarter. ORG Partners LLC now owns 1,617 shares of the company’s stock valued at $141,000 after purchasing an additional 1,432 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in shares of American Electric Power by 1.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 66,820 shares of the company’s stock valued at $5,863,000 after purchasing an additional 1,117 shares during the last quarter. Hedge funds and other 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.