American Electric Power (NYSE:AEP) had its price objective lowered by investment analysts at Argus from $84.00 to $79.00 in a research report issued to clients and investors on Thursday. The brokerage presently has a “buy” rating on the utilities provider’s stock. Argus’ price target points to a potential upside of 18.96% from the stock’s current price.
Several other analysts have also recently weighed in on the company. KeyCorp lifted their price target on American Electric Power from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, April 18th. Morgan Stanley lifted their price objective on American Electric Power from $71.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, April 16th. JPMorgan Chase & Co. dropped their price objective on American Electric Power from $70.00 to $69.00 and set a “neutral” rating for the company in a report on Tuesday, April 10th. SunTrust Banks set a $76.00 price objective on American Electric Power and gave the company a “buy” rating in a report on Monday, March 19th. Finally, Guggenheim raised American Electric Power from a “sell” rating to a “neutral” rating in a report on Tuesday, February 20th. 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. The company presently has a consensus rating of “Buy” and an average target price of $74.14.
NYSE:AEP traded down $0.06 during mid-day trading on Thursday, hitting $66.41. 66,887 shares of the stock were exchanged, compared to its average volume of 2,899,505. The stock has a market cap of $32.23 billion, a P/E ratio of 18.05, a PEG ratio of 2.97 and a beta of 0.16. The company has a current ratio of 0.44, a quick ratio of 0.34 and a debt-to-equity ratio of 1.02. American Electric Power has a fifty-two week low of $63.32 and a fifty-two week high of $78.07.
American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, April 26th. The utilities provider reported $0.96 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.02). The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $4 billion. American Electric Power had a return on equity of 9.93% and a net margin of 11.41%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.96 earnings per share. sell-side analysts forecast that American Electric Power will post 3.88 EPS for the current year.
In other news, EVP Mark C. Mccullough sold 721 shares of American Electric Power stock in a transaction on Friday, May 4th. The stock was sold at an average price of $69.63, for a total value of $50,203.23. Following the transaction, the executive vice president now owns 7,386 shares in the company, valued at approximately $514,287.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.16% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of American Electric Power by 1.7% in the 1st quarter. BlackRock Inc. now owns 34,274,267 shares of the utilities provider’s stock valued at $2,350,874,000 after purchasing an additional 560,773 shares during the last quarter. Wells Fargo & Company MN grew its position in American Electric Power by 1.1% during the 1st quarter. Wells Fargo & Company MN now owns 11,681,716 shares of the utilities provider’s stock worth $801,249,000 after acquiring an additional 125,880 shares during the last quarter. JPMorgan Chase & Co. grew its position in American Electric Power by 26.8% during the 1st quarter. JPMorgan Chase & Co. now owns 8,237,503 shares of the utilities provider’s stock worth $565,010,000 after acquiring an additional 1,739,771 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in American Electric Power by 5.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,253,152 shares of the utilities provider’s stock worth $360,313,000 after acquiring an additional 265,822 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in 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 acquiring an additional 245,600 shares during the last quarter. Institutional investors own 72.31% 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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.
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