Morgan Stanley Cuts American Electric Power (AEP) Price Target to $71.00

American Electric Power (NYSE:AEP) had its price target decreased by Morgan Stanley from $77.00 to $71.00 in a research note issued on Tuesday. The brokerage currently has a “buy” rating on the utilities provider’s stock. Morgan Stanley’s target price points to a potential upside of 8.73% from the company’s previous close.

AEP has been the topic of a number of other reports. ValuEngine lowered American Electric Power from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Bank of America started coverage on American Electric Power in a report on Tuesday, October 24th. They set a “buy” rating and a $79.00 price target on the stock. SunTrust Banks reiterated a “buy” rating and set a $78.00 price target on shares of American Electric Power in a report on Tuesday, January 9th. Deutsche Bank lowered American Electric Power from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Finally, Mizuho upgraded American Electric Power from a “neutral” rating to a “buy” rating in a report on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $74.36.

American Electric Power (NYSE:AEP) traded down $0.28 during mid-day trading on Tuesday, hitting $65.30. The stock had a trading volume of 5,755,964 shares, compared to its average volume of 4,143,367. American Electric Power has a 52 week low of $62.69 and a 52 week high of $78.07. The company has a quick ratio of 0.43, a current ratio of 0.49 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $32,310.00, a price-to-earnings ratio of 17.05, a PEG ratio of 3.09 and a beta of 0.18.

American Electric Power (NYSE:AEP) last issued its quarterly earnings results on Thursday, January 25th. The utilities provider reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.04. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.92 billion. American Electric Power had a return on equity of 10.05% and a net margin of 12.39%. American Electric Power’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the company posted $0.67 earnings per share. research analysts expect that American Electric Power will post 3.89 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the business. Raymond James & Associates increased its position in American Electric Power by 0.4% in the fourth quarter. Raymond James & Associates now owns 962,722 shares of the utilities provider’s stock worth $70,827,000 after buying an additional 3,814 shares during the last quarter. California State Teachers Retirement System increased its position in American Electric Power by 0.6% in the fourth quarter. California State Teachers Retirement System now owns 845,033 shares of the utilities provider’s stock worth $62,169,000 after buying an additional 4,632 shares during the last quarter. Virtue Capital Management LLC purchased a new stake in American Electric Power in the fourth quarter worth $570,000. Brandywine Global Investment Management LLC increased its position in American Electric Power by 3.1% in the fourth quarter. Brandywine Global Investment Management LLC now owns 443,752 shares of the utilities provider’s stock worth $32,647,000 after buying an additional 13,202 shares during the last quarter. Finally, Castleton Investment Management LLC grew its position in shares of American Electric Power by 72.0% in the fourth quarter. Castleton Investment Management LLC now owns 243,229 shares of the utilities provider’s stock valued at $17,894,000 after purchasing an additional 101,811 shares in the last quarter. 70.74% of the stock is owned by institutional investors and hedge funds.

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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 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.

Analyst Recommendations for American Electric Power (NYSE:AEP)

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