American Electric Power Co. (AEP) Given New $67.00 Price Target at Royal Bank Of Canada
American Electric Power Co. (NYSE:AEP) had its price objective cut by investment analysts at Royal Bank Of Canada from $72.00 to $67.00 in a research report issued on Thursday. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 8.06% from the company’s current price.
Several other research analysts have also commented on the company. Zacks Investment Research lowered American Electric Power from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. KeyCorp reiterated an “outperform” rating and issued a $72.50 target price (up previously from $69.00) on shares of American Electric Power in a research report on Saturday, July 2nd. Goldman Sachs Group Inc. upgraded American Electric Power from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $71.00 to $73.00 in a research report on Tuesday, July 26th. Citigroup Inc. lifted their target price on American Electric Power from $61.00 to $68.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 20th. Finally, Hilliard Lyons lowered American Electric Power from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. American Electric Power has a consensus rating of “Buy” and a consensus target price of $68.17.
American Electric Power (NYSE:AEP) opened at 62.00 on Thursday. The stock has a market cap of $30.49 billion, a PE ratio of 15.30 and a beta of 0.23. The firm has a 50-day moving average price of $64.51 and a 200 day moving average price of $66.10. American Electric Power has a 52-week low of $53.30 and a 52-week high of $71.32.
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American Electric Power (NYSE:AEP) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. American Electric Power had a return on equity of 9.54% and a net margin of 12.50%. The firm earned $3.90 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the firm earned $0.88 EPS. American Electric Power’s quarterly revenue was up 2.6% on a year-over-year basis. Equities analysts anticipate that American Electric Power will post $3.69 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of the company. Brick & Kyle Associates increased its stake in American Electric Power by 18.7% in the second quarter. Brick & Kyle Associates now owns 1,430 shares of the company’s stock worth $100,000 after buying an additional 225 shares in the last quarter. Jackson Grant Investment Advisers Inc. increased its stake in American Electric Power by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,447 shares of the company’s stock worth $101,000 after buying an additional 12 shares in the last quarter. Van ECK Associates Corp purchased a new stake in American Electric Power during the second quarter worth approximately $104,000. Krilogy Financial LLC increased its stake in American Electric Power by 105.2% in the second quarter. Krilogy Financial LLC now owns 1,531 shares of the company’s stock worth $107,000 after buying an additional 785 shares in the last quarter. Finally, Wealthcare Capital Management LLC purchased a new stake in American Electric Power during the second quarter worth approximately $108,000. 68.71% of the stock is currently owned by institutional investors.
American Electric Power Company Profile
American Electric Power Company, Inc (AEP) is a public 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. The Company’s segments include Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing.
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