American Electric Power (NASDAQ:AEP) Upgraded by Bank of America to Buy Rating

Bank of America upgraded shares of American Electric Power (NASDAQ:AEP) from an underperform rating to a buy rating in a research note published on Monday morning, Marketbeat.com reports. The firm currently has $104.00 price objective on the stock, up from their prior price objective of $98.00.

Other research analysts have also issued reports about the stock. UBS Group raised their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. Scotiabank downgraded shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $105.00 to $102.00 in a report on Thursday, December 12th. Morgan Stanley dropped their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. BMO Capital Markets decreased their price target on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, Evercore ISI dropped their price objective on 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and an average target price of $98.00.

American Electric Power Price Performance

American Electric Power stock opened at $95.12 on Monday. The firm has a fifty day moving average of $94.52 and a 200-day moving average of $96.78. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. American Electric Power has a 52-week low of $75.22 and a 52-week high of $105.18. The firm has a market capitalization of $50.62 billion, a P/E ratio of 19.06, a PEG ratio of 2.70 and a beta of 0.56.

American Electric Power Increases Dividend

The company also recently disclosed 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. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend was Friday, November 8th. American Electric Power’s dividend payout ratio is currently 74.55%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AEP. Legacy Investment Solutions LLC purchased a new stake in shares of American Electric Power during the 3rd quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of American Electric Power during the third quarter valued at approximately $33,000. Reston Wealth Management LLC purchased a new position in American Electric Power during the 3rd quarter valued at about $48,000. Decker Retirement Planning Inc. bought a new stake in shares of American Electric Power during the 4th quarter valued at about $49,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of American Electric Power in the 3rd quarter worth about $50,000. 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.