American Electric Power Company, Inc. (AEP) Given Average Recommendation of “Hold” by Brokerages
American Electric Power Company, Inc. (NYSE:AEP) has been given an average rating of “Hold” by the seventeen analysts that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $71.70.
A number of equities research analysts have recently weighed in on AEP shares. Deutsche Bank AG raised their price target on American Electric Power from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday, April 11th. Mizuho reissued a “buy” rating and issued a $72.50 price objective on shares of American Electric Power in a research note on Wednesday, April 19th. Barclays PLC reissued an “overweight” rating and issued a $76.00 price objective (up from $71.00) on shares of American Electric Power in a research note on Sunday, April 23rd. Zacks Investment Research downgraded American Electric Power from a “hold” rating to a “sell” rating in a research note on Friday, April 28th. Finally, Jefferies Group LLC raised their price objective on American Electric Power from $68.00 to $70.00 and gave the company a “hold” rating in a research note on Friday, April 28th.
In related news, insider Paul Chodak III sold 1,110 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $68.20, for a total value of $75,702.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.15% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in AEP. BlackRock Inc. raised its stake in shares of American Electric Power by 2,394.3% in the first quarter. BlackRock Inc. now owns 33,819,821 shares of the utilities provider’s stock valued at $2,270,326,000 after buying an additional 32,463,953 shares in the last quarter. Bank of Montreal Can raised its stake in shares of American Electric Power by 35.2% in the second quarter. Bank of Montreal Can now owns 4,366,510 shares of the utilities provider’s stock valued at $303,342,000 after buying an additional 1,137,941 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of American Electric Power by 3.4% in the first quarter. Vanguard Group Inc. now owns 34,128,589 shares of the utilities provider’s stock valued at $2,291,051,000 after buying an additional 1,124,366 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of American Electric Power by 16.2% in the first quarter. Wells Fargo & Company MN now owns 7,668,864 shares of the utilities provider’s stock valued at $514,810,000 after buying an additional 1,069,388 shares in the last quarter. Finally, Brookfield Asset Management Inc. bought a new stake in shares of American Electric Power during the first quarter valued at approximately $56,864,000. 70.50% of the stock is currently owned by institutional investors and hedge funds.
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Shares of American Electric Power (AEP) traded up 0.74% on Friday, hitting $69.21. The stock had a trading volume of 1,093,253 shares. American Electric Power has a 52 week low of $57.89 and a 52 week high of $72.97. The company has a market cap of $34.03 billion, a price-to-earnings ratio of 48.53 and a beta of 0.30. The firm has a 50 day moving average price of $70.60 and a 200-day moving average price of $67.29.
American Electric Power (NYSE:AEP) last announced its quarterly earnings data on Thursday, April 27th. The utilities provider reported $0.96 EPS for the quarter, missing the Zacks’ consensus estimate of $0.97 by $0.01. American Electric Power had a return on equity of 10.78% and a net margin of 4.31%. The business had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same quarter in the previous year, the business posted $1.02 earnings per share. The company’s revenue was down 2.5% compared to the same quarter last year. Analysts anticipate that American Electric Power will post $3.66 EPS for the current year.
About American Electric Power
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 service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.
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