JPMorgan Chase Lowers American Electric Power (AEP) Price Target to $69.00

American Electric Power (NYSE:AEP) had its price objective trimmed by JPMorgan Chase from $70.00 to $69.00 in a report issued on Tuesday. The firm currently has a neutral rating on the utilities provider’s stock.

AEP has been the topic of several other research reports. Zacks Investment Research lowered shares of American Electric Power from a hold rating to a sell rating in a research note on Tuesday, February 13th. SunTrust Banks reiterated a buy rating and issued a $78.00 price objective on shares of American Electric Power in a research note on Tuesday, January 9th. Guggenheim lowered shares of American Electric Power from a neutral rating to a sell rating in a research note on Tuesday, January 2nd. Macquarie upgraded shares of American Electric Power from a neutral rating to an outperform rating and upped their price objective for the company from $75.00 to $76.00 in a research note on Monday, January 22nd. Finally, Morgan Stanley dropped their price objective on shares of American Electric Power from $77.00 to $71.00 and set a buy rating on the stock in a research note on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $74.00.

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Shares of NYSE:AEP opened at $67.34 on Tuesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.51 and a quick ratio of 0.40. The company has a market capitalization of $32,787.25, a P/E ratio of 18.21, a PEG ratio of 3.18 and a beta of 0.17. American Electric Power has a 52 week low of $63.32 and a 52 week high of $78.07.

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

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of American Electric Power by 2.3% during the 4th quarter. BlackRock Inc. now owns 33,713,494 shares of the utilities provider’s stock worth $2,480,302,000 after purchasing an additional 763,950 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of American Electric Power by 15.2% during the 4th quarter. Wells Fargo & Company MN now owns 11,555,836 shares of the utilities provider’s stock worth $850,164,000 after purchasing an additional 1,526,465 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of American Electric Power by 4.9% during the 4th quarter. Renaissance Technologies LLC now owns 5,227,300 shares of the utilities provider’s stock worth $384,572,000 after purchasing an additional 245,600 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of American Electric Power by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 4,891,154 shares of the utilities provider’s stock worth $359,044,000 after purchasing an additional 161,176 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in shares of American Electric Power by 2.7% during the 4th quarter. TIAA CREF Investment Management LLC now owns 3,847,748 shares of the utilities provider’s stock worth $283,079,000 after purchasing an additional 100,915 shares during the last quarter. Institutional investors own 71.71% of the company’s stock.

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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.

Analyst Recommendations for American Electric Power (NYSE:AEP)

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