Barclays Forecasts Strong Price Appreciation for American Electric Power (NASDAQ:AEP) Stock

American Electric Power (NASDAQ:AEP) had its price target increased by Barclays from $120.00 to $132.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential upside of 1.14% from the company’s previous close.

Several other research analysts have also recently issued reports on AEP. BTIG Research restated a “buy” rating and issued a $153.00 target price on shares of American Electric Power in a report on Thursday. Scotiabank lowered their price target on shares of American Electric Power from $140.00 to $131.00 and set a “sector perform” rating for the company in a report on Wednesday, September 30th. Morgan Stanley increased their price target on shares of American Electric Power from $128.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, October 21st. JPMorgan Chase & Co. cut their price target on shares of American Electric Power from $140.00 to $135.00 and set a “neutral” rating on the stock in a report on Monday, October 19th. Finally, KeyCorp raised shares of American Electric Power from a “sector weight” rating to an “overweight” rating and set a $133.00 price target on the stock in a report on Monday, October 12th. Sixteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, American Electric Power has a consensus rating of “Moderate Buy” and a consensus price target of $139.50.

American Electric Power Trading Up 0.2%

AEP stock traded up $0.30 during trading on Monday, hitting $130.51. 1,701,272 shares of the company traded hands, compared to its average volume of 3,949,264. The firm has a market capitalization of $71.06 billion, a PE ratio of 21.08, a P/E/G ratio of 2.68 and a beta of 0.46. American Electric Power has a 1 year low of $112.54 and a 1 year high of $140.58. The company has a 50-day moving average of $123.35 and a 200-day moving average of $127.93. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.40 and a current ratio of 0.51.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.19. The business had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.55 billion. American Electric Power had a return on equity of 10.52% and a net margin of 14.21%. American Electric Power’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the company earned $1.80 EPS. Analysts predict that American Electric Power will post 6.41 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Kate Dixon sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $125.00, for a total transaction of $250,000.00. Following the completion of the transaction, the chief accounting officer owned 15,856 shares in the company, valued at $1,982,000. This represents a 11.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.05% of the company’s stock.

Institutional Trading of American Electric Power

Several large investors have recently added to or reduced their stakes in the stock. Elevation Wealth Partners LLC lifted its position in shares of American Electric Power by 118.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 194 shares of the company’s stock worth $27,000 after purchasing an additional 105 shares during the period. Costello Asset Management INC raised its stake in American Electric Power by 100.0% in the first quarter. Costello Asset Management INC now owns 200 shares of the company’s stock worth $26,000 after buying an additional 100 shares in the last quarter. Parvin Asset Management LLC purchased a new stake in American Electric Power in the second quarter worth about $27,000. Caitlin John LLC purchased a new stake in American Electric Power in the second quarter worth about $27,000. Finally, Premier Financial Group bought a new stake in American Electric Power during the 2nd quarter valued at approximately $28,000. Institutional investors own 75.24% of the company’s stock.

About American Electric Power

American Electric Power (NASDAQ:AEP) is an electric utility holding company that generates, transmits and distributes electricity to residential, commercial, industrial and institutional customers. Through its operating companies, AEP provides regulated electric service and manages power generation assets using a mix of energy resources, including natural gas, coal, nuclear, hydroelectric and renewable energy.

AEP operates one of the largest electric transmission systems in the United States and supplies electricity across portions of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.