American Electric Power Co. (NYSE:AEP) had its target price decreased by equities researchers at Royal Bank Of Canada from $72.00 to $67.00 in a note issued to investors on Thursday. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 7.54% from the company’s current price.
AEP has been the subject of a number of other reports. SunTrust Banks Inc. upped their target price on American Electric Power from $74.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, September 26th. Zacks Investment Research lowered American Electric Power from a “buy” rating to a “hold” rating in a research note on Wednesday, September 14th. Morgan Stanley reiterated a “hold” rating on shares of American Electric Power in a research note on Wednesday, June 15th. RBC Capital Markets reiterated a “hold” rating and set a $67.00 price objective (down from $72.00) on shares of American Electric Power in a research note on Thursday. Finally, Citigroup Inc. increased their price objective on American Electric Power from $61.00 to $68.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 20th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. American Electric Power has an average rating of “Buy” and a consensus target price of $68.17.
Shares of American Electric Power (NYSE:AEP) opened at 62.30 on Thursday. American Electric Power has a 12 month low of $53.30 and a 12 month high of $71.32. The company has a market capitalization of $30.63 billion, a PE ratio of 15.38 and a beta of 0.23. The firm has a 50-day moving average of $64.29 and a 200 day moving average of $66.05.
American Electric Power (NYSE:AEP) last issued its earnings results on Thursday, July 28th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. The business earned $3.90 billion during the quarter, compared to analyst estimates of $4.01 billion. American Electric Power had a return on equity of 9.54% and a net margin of 12.50%. American Electric Power’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 earnings per share. On average, equities research analysts expect that American Electric Power will post $3.69 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of the company. Brick & Kyle Associates boosted its position in shares of 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 during the period. Jackson Grant Investment Advisers Inc. boosted its position in shares of 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 during the period. Van ECK Associates Corp bought a new position in shares of American Electric Power during the second quarter worth about $104,000. Krilogy Financial LLC boosted its position in shares of 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 during the period. Finally, Wealthcare Capital Management LLC bought a new position in shares of American Electric Power during the second quarter worth about $108,000. Hedge funds and other institutional investors own 68.66% of the company’s stock.
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 Company’s segments include Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing.
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