American Electric Power Company Hits New 1-Year High After Analyst Upgrade (AEP)
American Electric Power Company (NYSE:AEP) shares hit a new 52-week high during mid-day trading on Thursday after Jefferies Group raised their price target on the stock from $55.00 to $56.00, American Banking & Market News reports. The stock traded as high as $54.81 and last traded at $54.76, with a volume of 1,173,719 shares. The stock had previously closed at $54.12.
A number of other firms have also recently commented on AEP. Analysts at Wells Fargo & Co. reiterated a “positive” rating on shares of American Electric Power Company in a research note on Tuesday, May 27th. Separately, analysts at Ned Davis Research upgraded shares of American Electric Power Company from a “neutral” rating to a “buy” rating in a research note on Monday, May 12th. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of American Electric Power Company in a research note on Friday, May 9th. They now have a $53.00 price target on the stock, up previously from $51.00. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $53.90.
The stock’s 50-day moving average is $52.85 and its 200-day moving average is $49.8. The company has a market cap of $26.662 billion and a price-to-earnings ratio of 15.73.
American Electric Power Company (NYSE:AEP) last posted its quarterly earnings results on Friday, April 25th. The company reported $1.15 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.88 by $0.27. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter last year, the company posted $0.80 earnings per share. American Electric Power Company’s revenue was up 21.1% compared to the same quarter last year. Analysts expect that American Electric Power Company will post $3.48 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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