Morgan Stanley Increases American Electric Power (AEP) Price Target to $84.00

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American Electric Power (NYSE:AEP) had its price target increased by investment analysts at Morgan Stanley from $81.00 to $84.00 in a research report issued on Tuesday. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price target suggests a potential upside of 5.59% from the stock’s previous close.

Several other research firms have also recently weighed in on AEP. Zacks Investment Research cut American Electric Power from a “buy” rating to a “hold” rating in a research report on Tuesday, December 11th. Barclays boosted their price objective on American Electric Power from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, November 19th. JPMorgan Chase & Co. set a $78.00 price objective on American Electric Power and gave the stock a “hold” rating in a research report on Friday, January 25th. ValuEngine raised American Electric Power from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Finally, Guggenheim cut American Electric Power from a “buy” rating to a “neutral” rating in a research report on Monday, January 7th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $77.50.

AEP opened at $79.55 on Tuesday. The stock has a market cap of $39.60 billion, a PE ratio of 20.14, a P/E/G ratio of 3.37 and a beta of 0.17. American Electric Power has a 52-week low of $62.71 and a 52-week high of $81.05. The company has a quick ratio of 0.46, a current ratio of 0.48 and a debt-to-equity ratio of 1.14.

American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Thursday, January 24th. The utilities provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.01. American Electric Power had a return on equity of 10.33% and a net margin of 11.91%. The business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the previous year, the firm earned $0.85 EPS. The firm’s revenue was up .0% compared to the same quarter last year. On average, equities research analysts forecast that American Electric Power will post 4.12 earnings per share for the current year.

In other American Electric Power news, insider Lisa M. Barton sold 881 shares of the company’s stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $77.55, for a total value of $68,321.55. Following the completion of the transaction, the insider now owns 581 shares of the company’s stock, valued at approximately $45,056.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.16% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in American Electric Power by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 37,558,524 shares of the utilities provider’s stock valued at $2,662,148,000 after acquiring an additional 584,608 shares in the last quarter. Vanguard Group Inc raised its holdings in American Electric Power by 1.6% in the 3rd quarter. Vanguard Group Inc now owns 37,558,524 shares of the utilities provider’s stock valued at $2,662,148,000 after acquiring an additional 584,608 shares in the last quarter. BlackRock Inc. raised its holdings in American Electric Power by 3.9% in the 4th quarter. BlackRock Inc. now owns 36,683,081 shares of the utilities provider’s stock valued at $2,741,691,000 after acquiring an additional 1,381,916 shares in the last quarter. Capital Research Global Investors raised its holdings in American Electric Power by 9.1% in the 3rd quarter. Capital Research Global Investors now owns 18,496,658 shares of the utilities provider’s stock valued at $1,311,043,000 after acquiring an additional 1,548,554 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in American Electric Power by 1.9% in the 3rd quarter. Alliancebernstein L.P. now owns 6,469,015 shares of the utilities provider’s stock valued at $458,524,000 after acquiring an additional 122,077 shares in the last quarter. 73.49% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for American Electric Power (NYSE:AEP)

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