American Electric Power (NASDAQ:AEP) Earns Hold Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of American Electric Power (NASDAQ:AEP) in a research note issued to investors on Friday, MarketBeat reports. The brokerage issued a hold rating and a $107.00 price target on the stock.

A number of other brokerages have also weighed in on AEP. Scotiabank lifted their target price on shares of American Electric Power from $99.00 to $108.00 and gave the company a sector outperform rating in a research note on Tuesday, August 20th. LADENBURG THALM/SH SH raised American Electric Power from a sell rating to a neutral rating and lifted their price objective for the company from $73.00 to $86.00 in a research report on Thursday, June 6th. Guggenheim increased their target price on American Electric Power from $81.00 to $83.00 and gave the stock a neutral rating in a research report on Monday, July 22nd. Morgan Stanley upped their price target on American Electric Power from $95.00 to $102.00 and gave the stock an overweight rating in a research note on Friday, August 23rd. Finally, Bank of America boosted their target price on shares of American Electric Power from $97.00 to $98.00 and gave the company an underperform rating in a report on Thursday, August 29th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, American Electric Power presently has an average rating of Hold and an average price target of $96.00.

American Electric Power Price Performance

AEP stock opened at $102.15 on Friday. The firm’s 50-day moving average price is $98.82 and its two-hundred day moving average price is $91.01. The stock has a market capitalization of $53.85 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 2.95 and a beta of 0.54. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. American Electric Power has a 12-month low of $69.38 and a 12-month high of $105.18.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.02. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The firm had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the previous year, the firm earned $1.13 earnings per share. The business’s revenue was up 4.5% compared to the same quarter last year. As a group, equities analysts predict that American Electric Power will post 5.59 earnings per share for the current year.

American Electric Power Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s dividend payout ratio is currently 65.31%.

Institutional Investors Weigh In On American Electric Power

A number of large investors have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of American Electric Power in the second quarter worth $4,246,000. Heritage Wealth Management Inc. purchased a new position in shares of American Electric Power in the second quarter worth approximately $361,000. Sanctuary Advisors LLC bought a new stake in American Electric Power during the second quarter valued at approximately $12,671,000. 3Chopt Investment Partners LLC purchased a new stake in American Electric Power during the second quarter valued at approximately $203,000. Finally, Granite Bay Wealth Management LLC bought a new position in American Electric Power in the second quarter worth approximately $2,297,000. 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.