American Electric Power (AEP) Price Target Raised to $88.00 at Morgan Stanley

American Electric Power (NYSE:AEP) had its target price increased by investment analysts at Morgan Stanley from $87.00 to $88.00 in a report issued on Thursday, BenzingaRatingsTable reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target suggests a potential upside of 2.67% from the company’s current price.

Other equities research analysts have also issued reports about the stock. UBS Group upped their price target on shares of American Electric Power from $89.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Wolfe Research set a $89.00 target price on shares of American Electric Power and gave the stock a “buy” rating in a research note on Friday, April 26th. Zacks Investment Research raised shares of American Electric Power from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Monday, March 18th. JPMorgan Chase & Co. set a $78.00 target price on shares of American Electric Power and gave the stock a “hold” rating in a research note on Friday, January 25th. Finally, Goldman Sachs Group lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a research note on Monday, April 8th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. American Electric Power presently has an average rating of “Buy” and an average price target of $81.63.

NYSE:AEP traded up $0.15 during mid-day trading on Thursday, hitting $85.71. The company’s stock had a trading volume of 381,073 shares, compared to its average volume of 2,678,753. American Electric Power has a 1 year low of $62.71 and a 1 year high of $86.54. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.37 and a current ratio of 0.49. The firm has a market cap of $42.18 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 3.70 and a beta of 0.17.

American Electric Power (NYSE:AEP) last posted its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.10 by $0.09. American Electric Power had a net margin of 12.64% and a return on equity of 10.81%. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.23 billion. During the same period in the prior year, the company earned $0.96 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. As a group, equities research analysts predict that American Electric Power will post 4.13 earnings per share for the current fiscal year.

In related news, VP Brian X. Tierney sold 4,392 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $86.02, for a total value of $377,799.84. Following the transaction, the vice president now directly owns 39,449 shares of the company’s stock, valued at approximately $3,393,402.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas K. Akins sold 11,152 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $84.94, for a total transaction of $947,250.88. The disclosure for this sale can be found here. Insiders sold a total of 17,047 shares of company stock worth $1,454,023 over the last ninety days. 0.16% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of AEP. Vanguard Group Inc. increased its holdings in shares of American Electric Power by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 37,558,524 shares of the utilities provider’s stock worth $2,662,148,000 after buying an additional 584,608 shares during the last quarter. Vanguard Group Inc increased its holdings in shares of American Electric Power by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 37,558,524 shares of the utilities provider’s stock worth $2,662,148,000 after buying an additional 584,608 shares during the last quarter. BlackRock Inc. increased its holdings in shares of American Electric Power by 3.9% during the 4th quarter. BlackRock Inc. now owns 36,683,081 shares of the utilities provider’s stock worth $2,741,691,000 after buying an additional 1,381,916 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of American Electric Power by 7.5% during the 1st quarter. State Street Corp now owns 25,117,238 shares of the utilities provider’s stock worth $1,667,787,000 after buying an additional 1,758,073 shares during the last quarter. 73.99% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Company Profile

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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Analyst Recommendations for American Electric Power (NYSE:AEP)

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