American Electric Power Co. Receives Buy Rating from Jefferies Group (AEP)
American Electric Power Co. (NYSE: AEP)‘s stock had its “buy” rating reiterated by research analysts at Jefferies Group in a report released on Monday, AnalystRatingsNetwork.com reports. They currently have a $49.50 price objective on the stock, down from their previous price objective of $56.50. Jefferies Group’s price objective suggests a potential upside of 11.79% from the stock’s previous close.
The analysts wrote, “While Jefferies believes FirstEnergy will not be successful in its plan to transfer two plants to its West Virginia subsidiary we believe AEP will prevail with its plan to transfer the Amos and Mitchell plants to Appalachian Power. Jefferies believes AEP will enter a settlement agreement with intervenors in West Virginia regarding the asset transfer prior to the commencement of hearings on July 16.”
Shares of American Electric Power Co. (NYSE: AEP) traded up 0.37% during mid-day trading on Monday, hitting $44.445. American Electric Power Co. has a one year low of $40.56 and a one year high of $51.60. The stock’s 50-day moving average is currently $45.80. The company has a market cap of $21.602 billion and a P/E ratio of 17.43.
American Electric Power Co. (NYSE: AEP) last issued its quarterly earnings data on Friday, April 26th. The company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by $0.01. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the previous year, the company posted $0.80 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. American Electric Power Co. has set its FY13 guidance at $3.05-3.25 EPS. Analysts expect that American Electric Power Co. will post $3.16 EPS for the current fiscal year.
A number of other firms have also recently commented on AEP. Analysts at SunTrust Banks Inc. upgraded shares of American Electric Power Co. from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, June 12th. They now have a $50.00 price target on the stock. Separately, analysts at BMO Capital Markets reiterated a “market perform” rating on shares of American Electric Power Co. in a research note to investors on Tuesday, May 28th. They now have a $52.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of American Electric Power Co. in a research note to investors on Monday, May 27th. They now have a $50.00 price target on the stock.
Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. American Electric Power Co. presently has a consensus rating of “Hold” and an average target price of $49.04.
American Electric Power Company, Inc (NYSE: AEP) is a 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.
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