Morgan Stanley Issues Positive Forecast for American Electric Power (NASDAQ:AEP) Stock Price

American Electric Power (NASDAQ:AEP) had its price target increased by Morgan Stanley from $108.00 to $113.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other analysts have also issued reports on the company. JPMorgan Chase & Co. restated a “neutral” rating and issued a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Scotiabank cut shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $105.00 to $102.00 in a research report on Thursday, December 12th. BMO Capital Markets dropped their price objective on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Barclays lowered their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, American Electric Power presently has a consensus rating of “Hold” and an average price target of $99.92.

American Electric Power Price Performance

NASDAQ:AEP opened at $106.21 on Thursday. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. The firm has a fifty day simple moving average of $101.66 and a 200 day simple moving average of $99.05. American Electric Power has a 1-year low of $79.16 and a 1-year high of $109.52. The stock has a market capitalization of $56.68 billion, a PE ratio of 18.97, a P/E/G ratio of 2.97 and a beta of 0.50.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, hitting the consensus estimate of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same quarter last year, the firm posted $1.23 EPS. On average, research analysts expect that American Electric Power will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is currently 66.43%.

Hedge Funds Weigh In On American Electric Power

A number of hedge funds have recently added to or reduced their stakes in AEP. DAVENPORT & Co LLC grew its holdings in shares of American Electric Power by 6.1% during the 4th quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company’s stock worth $5,310,000 after purchasing an additional 3,288 shares in the last quarter. Secure Asset Management LLC grew its stake in American Electric Power by 22.4% during the fourth quarter. Secure Asset Management LLC now owns 23,916 shares of the company’s stock worth $2,206,000 after buying an additional 4,370 shares in the last quarter. Grove Bank & Trust grew its stake in American Electric Power by 436.9% during the fourth quarter. Grove Bank & Trust now owns 7,092 shares of the company’s stock worth $654,000 after buying an additional 5,771 shares in the last quarter. J2 Capital Management Inc bought a new position in American Electric Power in the 4th quarter valued at about $419,000. Finally, Principal Financial Group Inc. raised its position in shares of American Electric Power by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock valued at $65,667,000 after buying an additional 19,081 shares in the last quarter. 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.