JPMorgan Chase & Co. Reiterates Neutral Rating for American Electric Power (NASDAQ:AEP)

JPMorgan Chase & Co. reissued their neutral rating on shares of American Electric Power (NASDAQ:AEP) in a report released on Thursday morning, Marketbeat.com reports. The firm currently has a $102.00 price target on the stock, down from their prior price target of $109.00.

AEP has been the subject of several other research reports. Jefferies Financial Group started coverage on shares of American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective for the company. Evercore ISI cut their price objective on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Barclays lowered their target price on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, November 26th. BMO Capital Markets lifted their price objective on American Electric Power from $104.00 to $108.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Finally, Morgan Stanley reduced their target price on American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $97.13.

American Electric Power Trading Down 0.8 %

Shares of American Electric Power stock opened at $92.85 on Thursday. The stock has a market capitalization of $49.41 billion, a P/E ratio of 18.61, a price-to-earnings-growth ratio of 2.77 and a beta of 0.55. American Electric Power has a 12-month low of $75.22 and a 12-month high of $105.18. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The company has a 50-day simple moving average of $97.65 and a 200 day simple moving average of $96.03.

American Electric Power Increases Dividend

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

Institutional Investors Weigh In On American Electric Power

Several hedge funds and other institutional investors have recently made changes to their positions in AEP. HHM Wealth Advisors LLC increased its holdings in shares of American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after buying an additional 103 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in American Electric Power in the 3rd quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC acquired a new position in American Electric Power in the 3rd quarter valued at approximately $33,000. LRI Investments LLC lifted its holdings in shares of American Electric Power by 935.9% during the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after purchasing an additional 365 shares during the period. Finally, Briaud Financial Planning Inc increased its holdings in American Electric Power by 52.1% in the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after purchasing an additional 150 shares during the period. 75.24% of the stock is owned by institutional investors.

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.