American Electric Power Co. (AEP) Stock Rating Reaffirmed by RBC Capital Markets
American Electric Power Co. (NYSE:AEP)‘s stock had its “hold” rating reaffirmed by RBC Capital Markets in a report issued on Thursday. They currently have a $67.00 target price on the stock, down from their previous target price of $72.00. RBC Capital Markets’ price target would indicate a potential upside of 7.15% from the company’s current price.
A number of other research firms have also issued reports on AEP. Citigroup Inc. reduced their target price on American Electric Power from $69.00 to $66.00 and set a “neutral” rating for the company in a report on Tuesday, October 4th. KeyCorp restated an “outperform” rating and issued a $72.50 target price (up previously from $69.00) on shares of American Electric Power in a report on Saturday, July 2nd. Hilliard Lyons lowered American Electric Power from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Jefferies Group increased their target price on American Electric Power from $75.00 to $77.00 and gave the company a “buy” rating in a report on Friday, July 29th. Finally, Goldman Sachs Group Inc. upgraded American Electric Power from a “neutral” rating to a “buy” rating and increased their target price for the company from $71.00 to $73.00 in a report on Tuesday, July 26th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $68.17.
Shares of American Electric Power (NYSE:AEP) traded up 0.85% during midday trading on Thursday, hitting $62.53. The stock had a trading volume of 3,456,987 shares. The firm has a market cap of $30.75 billion, a price-to-earnings ratio of 15.43 and a beta of 0.23. American Electric Power has a 1-year low of $53.30 and a 1-year high of $71.32. The firm has a 50-day moving average price of $64.40 and a 200-day moving average price of $66.07.
American Electric Power (NYSE:AEP) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. American Electric Power had a return on equity of 9.54% and a net margin of 12.50%. The company earned $3.90 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the firm earned $0.88 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities analysts anticipate that American Electric Power will post $3.69 EPS for the current fiscal year.
Several large investors have recently modified their holdings of AEP. Brick & Kyle Associates increased its stake 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 valued at $100,000 after buying an additional 225 shares in the last quarter. Jackson Grant Investment Advisers Inc. increased its stake in 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 purchased a new stake in American Electric Power during the second quarter worth $104,000. Krilogy Financial LLC increased its stake in 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 purchased a new stake in American Electric Power during the second quarter worth $108,000. 68.71% of the stock is currently owned by institutional investors.
American Electric Power Company Profile
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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