Barclays Cuts American Electric Power (NASDAQ:AEP) Price Target to $99.00

American Electric Power (NASDAQ:AEP) had its price target cut by Barclays from $100.00 to $99.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts have also issued reports on the company. Scotiabank increased their price target on 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. Jefferies Financial Group assumed coverage on American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 target price on the stock. Morgan Stanley dropped their price target 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. Bank of America lifted their price target on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Finally, BMO Capital Markets reduced their price objective on American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $97.93.

American Electric Power Price Performance

NASDAQ AEP opened at $99.86 on Tuesday. The company has a 50-day moving average price of $98.72 and a two-hundred day moving average price of $95.76. The stock has a market cap of $53.14 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 2.88 and a beta of 0.55. The company has a current ratio of 0.57, a quick ratio of 0.41 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.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Friday, November 8th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is 74.55%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. State Street Corp increased its position in shares of American Electric Power by 4.3% during the third quarter. State Street Corp now owns 26,902,755 shares of the company’s stock worth $2,760,223,000 after acquiring an additional 1,114,954 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of American Electric Power by 2.9% in the third quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company’s stock valued at $1,280,655,000 after purchasing an additional 352,588 shares in the last quarter. FMR LLC grew its holdings in shares of American Electric Power by 18.8% during the third quarter. FMR LLC now owns 6,866,952 shares of the company’s stock worth $704,549,000 after buying an additional 1,087,163 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in American Electric Power by 8.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock valued at $466,191,000 after buying an additional 341,846 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of American Electric Power by 109.5% during the 3rd quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock worth $385,079,000 after acquiring an additional 1,962,125 shares in the last quarter. Institutional investors and hedge funds 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.