Zacks Reiterates “Neutral” Rating for American Electric Power Co. (AEP)
American Electric Power Co. (NYSE:AEP)‘s stock had its “neutral” rating restated by Zacks in a note issued to investors on Wednesday, AmericanBankingNews.com reports. They currently have a $46.00 price objective on the stock. Zacks‘ price objective would indicate a potential upside of 5.77% from the company’s current price.
Zacks‘ analyst wrote, “We maintain our Neutral recommendation on American Electric Power based on its consistent performance in core regulated operations and transmission network expansion, partly tempered by reduced capacity payments in the PJM Interconnection and weak second quarter results. Key Growth drivers for the company include its diversified geographical business that insulates it from risk, the company’s contribution from Transmission Operations, strong cost reduction efforts and an above-average dividend yield. However, tepid economies in a number of its service states, weak residential, commercial and industrial sales and its predominantly fossil fuel based generation assets may restrict opportunities for future performance.”
A number of other analysts have also recently weighed in on AEP. Analysts at Deutsche Bank cut their price target on shares of American Electric Power Co. from $49.00 to $48.00 in a research note to investors on Wednesday, October 2nd. Separately, analysts at Wells Fargo & Co. upgraded shares of American Electric Power Co. from a “market perform” rating to an “outperform” rating in a research note to investors on Monday, September 23rd. Finally, analysts at BMO Capital Markets reiterated a “hold” rating on shares of American Electric Power Co. in a research note to investors on Thursday, August 22nd. They now have a $48.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. American Electric Power Co. currently has an average rating of “Hold” and a consensus target price of $48.92.
Shares of American Electric Power Co. (NYSE:AEP) traded up 0.78% during mid-day trading on Wednesday, hitting $43.83. The stock had a trading volume of 1,924,913 shares. American Electric Power Co. has a 1-year low of $40.56 and a 1-year high of $51.60. The stock has a 50-day moving average of $43.10 and a 200-day moving average of $46.18. The company has a market cap of $21.335 billion and a price-to-earnings ratio of 17.47.
American Electric Power Co. (NYSE:AEP) last announced its earnings results on Thursday, July 25th. The company reported $0.73 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.74 by $0.01. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis. Analysts expect that American Electric Power Co. will post $3.14 EPS for the current fiscal year.
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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