American Electric Power (NYSE:AEP) Price Target Raised to $105.00

American Electric Power (NYSE:AEP) had its price objective raised by UBS Group from $100.00 to $105.00 in a research report report published on Friday, September 20th, AnalystRatings.com reports. The brokerage currently has a buy rating on the utilities provider’s stock.

Several other research analysts have also weighed in on AEP. SunTrust Banks upped their target price on American Electric Power from $98.00 to $99.00 and gave the stock a buy rating in a research report on Monday, August 12th. Zacks Investment Research raised American Electric Power from a sell rating to a hold rating and set a $96.00 target price on the stock in a research report on Thursday, July 11th. KeyCorp assumed coverage on American Electric Power in a research report on Tuesday, June 4th. They issued a sector weight rating on the stock. Morgan Stanley lowered their price objective on American Electric Power from $93.00 to $91.00 and set an equal weight rating on the stock in a report on Friday, August 16th. Finally, Bank of America reissued a buy rating and set a $98.00 price objective (up previously from $93.00) on shares of American Electric Power in a report on Tuesday, July 9th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. American Electric Power has an average rating of Buy and an average price target of $92.45.

Shares of NYSE AEP traded down $0.27 during mid-day trading on Friday, hitting $92.34. 1,764,660 shares of the company traded hands, compared to its average volume of 2,425,713. The business has a 50 day moving average of $92.24 and a two-hundred day moving average of $88.63. The stock has a market capitalization of $45.60 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 3.97 and a beta of 0.09. The company has a quick ratio of 0.36, a current ratio of 0.49 and a debt-to-equity ratio of 1.29. American Electric Power has a 1 year low of $70.31 and a 1 year high of $94.89.

American Electric Power (NYSE:AEP) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $4.13 billion. American Electric Power had a return on equity of 10.69% and a net margin of 12.53%. The business’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.01 EPS. As a group, research analysts anticipate that American Electric Power will post 4.13 EPS for the current year.

In other American Electric Power news, VP Brian X. Tierney sold 4,458 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $89.73, for a total value of $400,016.34. Following the completion of the sale, the vice president now owns 39,745 shares in the company, valued at approximately $3,566,318.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles E. Zebula sold 1,216 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $90.98, for a total value of $110,631.68. Following the transaction, the insider now owns 7,420 shares of the company’s stock, valued at approximately $675,071.60. The disclosure for this sale can be found here. 0.16% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of AEP. 6 Meridian increased its position in American Electric Power by 1.8% during the second quarter. 6 Meridian now owns 6,357 shares of the utilities provider’s stock worth $559,000 after buying an additional 111 shares during the last quarter. Atlantic Trust LLC increased its position in American Electric Power by 4.1% during the second quarter. Atlantic Trust LLC now owns 2,952 shares of the utilities provider’s stock worth $260,000 after buying an additional 117 shares during the last quarter. Tarbox Family Office Inc. increased its position in American Electric Power by 38.9% during the second quarter. Tarbox Family Office Inc. now owns 436 shares of the utilities provider’s stock worth $38,000 after buying an additional 122 shares during the last quarter. Intrust Bank NA increased its position in American Electric Power by 0.7% during the first quarter. Intrust Bank NA now owns 19,137 shares of the utilities provider’s stock worth $1,603,000 after buying an additional 127 shares during the last quarter. Finally, Carroll Financial Associates Inc. increased its position in American Electric Power by 2.5% during the third quarter. Carroll Financial Associates Inc. now owns 5,192 shares of the utilities provider’s stock worth $486,000 after buying an additional 128 shares during the last quarter. Hedge funds and other institutional investors own 73.76% of the company’s stock.

About American Electric Power

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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