UBS Group Increases American Electric Power (AEP) Price Target to $94.00

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American Electric Power (NYSE:AEP) had its price objective lifted by analysts at UBS Group from $89.00 to $94.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the utilities provider’s stock. UBS Group’s price target would indicate a potential upside of 11.03% from the stock’s current price.

AEP has been the topic of a number of other reports. Morgan Stanley lowered shares of American Electric Power from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $86.00 to $83.20 in a research note on Thursday, April 18th. Zacks Investment Research lowered shares of American Electric Power from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. JPMorgan Chase & Co. raised shares of American Electric Power from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $78.00 to $88.00 in a research note on Tuesday, March 12th. Goldman Sachs Group lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research note on Monday, April 8th. Finally, Wells Fargo & Co raised their price objective on shares of American Electric Power from $89.00 to $93.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $81.33.

American Electric Power stock opened at $84.66 on Thursday. American Electric Power has a 1-year low of $62.71 and a 1-year high of $86.10. The firm has a market capitalization of $40.88 billion, a price-to-earnings ratio of 19.87, a price-to-earnings-growth ratio of 3.55 and a beta of 0.17. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.37 and a current ratio of 0.49.

American Electric Power (NYSE:AEP) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.23 billion. During the same period last year, the firm earned $0.96 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities research analysts predict that American Electric Power will post 4.13 EPS for the current year.

In other news, CEO Nicholas K. Akins sold 11,152 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $84.94, for a total value of $947,250.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.16% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Morgan Stanley increased its holdings in American Electric Power by 24.0% during the third quarter. Morgan Stanley now owns 3,695,743 shares of the utilities provider’s stock worth $261,954,000 after buying an additional 714,473 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd increased its holdings in American Electric Power by 186.2% during the first quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 8,300 shares of the utilities provider’s stock worth $695,000 after buying an additional 5,400 shares during the last quarter. Commonwealth Bank of Australia increased its holdings in American Electric Power by 124.6% during the fourth quarter. Commonwealth Bank of Australia now owns 3,681,416 shares of the utilities provider’s stock worth $275,134,000 after buying an additional 2,042,518 shares during the last quarter. Orrstown Financial Services Inc. increased its holdings in American Electric Power by 1,778.1% during the first quarter. Orrstown Financial Services Inc. now owns 6,949 shares of the utilities provider’s stock worth $582,000 after buying an additional 6,579 shares during the last quarter. Finally, First Midwest Bank Trust Division increased its holdings in American Electric Power by 0.8% during the fourth quarter. First Midwest Bank Trust Division now owns 21,327 shares of the utilities provider’s stock worth $1,594,000 after buying an additional 176 shares during the last quarter. Institutional investors own 73.53% 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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Analyst Recommendations for American Electric Power (NYSE:AEP)

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