American Electric Power (AEP) Given New $78.00 Price Target at Morgan Stanley

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American Electric Power (NYSE:AEP) had its price objective reduced by Morgan Stanley from $80.00 to $78.00 in a report released on Friday, September 21st. They currently have a buy rating on the utilities provider’s stock.

Other analysts have also issued research reports about the stock. Zacks Investment Research raised shares of American Electric Power from a sell rating to a hold rating and set a $79.00 price target on the stock in a research report on Thursday, July 12th. Barclays began coverage on shares of American Electric Power in a research report on Tuesday, July 10th. They issued an overweight rating and a $81.00 price target on the stock. Goldman Sachs Group raised shares of American Electric Power from a neutral rating to a buy rating and lowered their price target for the company from $76.00 to $74.00 in a research report on Thursday, July 19th. Argus lowered their price target on shares of American Electric Power from $84.00 to $79.00 and set a buy rating on the stock in a research report on Thursday, May 24th. Finally, SunTrust Banks reissued a buy rating and issued a $80.00 price target on shares of American Electric Power in a research report on Wednesday, July 25th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. American Electric Power currently has an average rating of Buy and a consensus price target of $75.92.

AEP stock traded down $0.32 during mid-day trading on Friday, hitting $70.90. The company had a trading volume of 2,851,519 shares, compared to its average volume of 3,010,920. The firm has a market cap of $34.94 billion, a price-to-earnings ratio of 19.27, a P/E/G ratio of 3.26 and a beta of 0.10. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.40 and a current ratio of 0.50. American Electric Power has a 12 month low of $62.71 and a 12 month high of $78.07.

American Electric Power (NYSE:AEP) last announced its quarterly earnings data on Wednesday, July 25th. The utilities provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.88 by $0.13. American Electric Power had a net margin of 12.09% and a return on equity of 10.50%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same quarter in the previous year, the firm posted $0.75 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Analysts forecast that American Electric Power will post 3.89 earnings per share for the current year.

A number of large investors have recently modified their holdings of AEP. First Quadrant L P CA purchased a new position in American Electric Power in the 2nd quarter worth approximately $118,000. Valeo Financial Advisors LLC grew its stake in American Electric Power by 59.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,145 shares of the utilities provider’s stock worth $152,000 after buying an additional 799 shares in the last quarter. Bristol John W & Co. Inc. NY purchased a new position in American Electric Power in the 1st quarter worth approximately $168,000. Gofen & Glossberg LLC IL purchased a new position in American Electric Power in the 3rd quarter worth approximately $203,000. Finally, We Are One Seven LLC purchased a new position in American Electric Power in the 3rd quarter worth approximately $205,000. 72.51% of the stock is owned by institutional investors.

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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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Analyst Recommendations for American Electric Power (NYSE:AEP)

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