American Electric Power (NASDAQ:AEP) Given New $96.00 Price Target at Evercore ISI

American Electric Power (NASDAQ:AEP) had its price objective lowered by research analysts at Evercore ISI from $97.00 to $96.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s target price would suggest a potential downside of 0.26% from the stock’s current price.

Several other brokerages have also weighed in on AEP. Guggenheim lifted their price target on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Wells Fargo & Company boosted their price objective on American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Bank of America boosted their price target on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. boosted their price target on shares of American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, Jefferies Financial Group began coverage on shares of American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $98.27.

American Electric Power Trading Down 4.1 %

Shares of NASDAQ:AEP opened at $96.25 on Thursday. The company has a market capitalization of $51.22 billion, a PE ratio of 19.17, a PEG ratio of 2.78 and a beta of 0.55. American Electric Power has a 12-month low of $74.97 and a 12-month high of $105.18. The business has a 50 day moving average of $100.71 and a two-hundred day moving average of $94.77. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Wednesday, November 6th. The company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.07. The firm had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.39 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. As a group, analysts forecast that American Electric Power will post 5.6 EPS for the current year.

Institutional Investors Weigh In On American Electric Power

Large investors have recently modified their holdings of the business. Quantbot Technologies LP purchased a new stake in shares of American Electric Power during the first quarter worth $1,731,000. Mizuho Markets Americas LLC grew its holdings in shares of American Electric Power by 646.9% in the first quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock valued at $22,510,000 after purchasing an additional 226,435 shares during the period. ProShare Advisors LLC grew its holdings in shares of American Electric Power by 21.7% in the first quarter. ProShare Advisors LLC now owns 582,692 shares of the company’s stock valued at $50,170,000 after purchasing an additional 103,771 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in shares of American Electric Power by 60.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 49,762 shares of the company’s stock valued at $4,285,000 after purchasing an additional 18,726 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of American Electric Power by 17.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 664,304 shares of the company’s stock valued at $57,197,000 after purchasing an additional 96,645 shares during the period. Hedge funds and other institutional investors own 75.24% 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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.