American Electric Power (AEP) Upgraded to Neutral by Guggenheim

American Electric Power (NYSE:AEP) was upgraded by Guggenheim from a “sell” rating to a “neutral” rating in a research note issued to investors on Tuesday.

A number of other brokerages have also recently commented on AEP. Zacks Investment Research cut American Electric Power from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Morgan Stanley raised American Electric Power from an “equal weight” rating to an “overweight” rating and set a $83.00 price target on the stock in a research note on Wednesday, December 13th. ValuEngine raised American Electric Power from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $74.00 price target on shares of American Electric Power in a research note on Monday, October 30th. Finally, Bank of America began coverage on American Electric Power in a research note on Tuesday, October 24th. They issued a “buy” rating and a $79.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $74.36.

American Electric Power (AEP) opened at $67.26 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.49 and a quick ratio of 0.43. The company has a market capitalization of $33,084.21, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 3.21 and a beta of 0.18. American Electric Power has a 12 month low of $63.32 and a 12 month high of $78.07.

American Electric Power (NYSE:AEP) last announced its quarterly earnings results on Thursday, January 25th. The utilities provider reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.04. The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.92 billion. American Electric Power had a return on equity of 10.05% and a net margin of 12.39%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 EPS. equities analysts predict that American Electric Power will post 3.89 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of American Electric Power by 70.2% during the third quarter. JPMorgan Chase & Co. now owns 6,696,615 shares of the utilities provider’s stock valued at $472,110,000 after purchasing an additional 2,762,164 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of American Electric Power by 29.1% during the third quarter. Wells Fargo & Company MN now owns 10,029,371 shares of the utilities provider’s stock valued at $704,464,000 after purchasing an additional 2,260,303 shares in the last quarter. APG Asset Management N.V. boosted its position in shares of American Electric Power by 153.2% during the third quarter. APG Asset Management N.V. now owns 3,376,206 shares of the utilities provider’s stock valued at $237,145,000 after purchasing an additional 2,042,700 shares in the last quarter. Jennison Associates LLC boosted its position in shares of American Electric Power by 60.0% during the fourth quarter. Jennison Associates LLC now owns 3,125,059 shares of the utilities provider’s stock valued at $229,911,000 after purchasing an additional 1,172,085 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of American Electric Power by 36.4% during the third quarter. Ameriprise Financial Inc. now owns 4,140,524 shares of the utilities provider’s stock valued at $290,796,000 after purchasing an additional 1,103,849 shares in the last quarter. Hedge funds and other institutional investors own 70.47% of the company’s stock.

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About American Electric Power

American Electric Power Company, Inc (AEP) is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.

Analyst Recommendations for American Electric Power (NYSE:AEP)

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