BMO Capital Markets Forecasts Strong Price Appreciation for American Electric Power (NASDAQ:AEP) Stock

American Electric Power (NASDAQ:AEP) had its price objective hoisted by equities research analysts at BMO Capital Markets from $104.00 to $108.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 8.15% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Scotiabank lifted their price objective on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company decreased their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Bank of America raised their target price on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Finally, Jefferies Financial Group started coverage on shares of American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $98.20.

American Electric Power Stock Performance

NASDAQ AEP traded down $0.03 on Monday, reaching $99.86. The stock had a trading volume of 1,260,574 shares, compared to its average volume of 3,130,998. American Electric Power has a 1-year low of $75.22 and a 1-year high of $105.18. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The company has a market cap of $53.14 billion, a P/E ratio of 20.01, a price-to-earnings-growth ratio of 2.88 and a beta of 0.55. The firm has a fifty day moving average of $98.72 and a two-hundred day moving average of $95.82.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AEP. State Street Corp boosted its position in shares of American Electric Power by 4.3% in the third quarter. State Street Corp now owns 26,902,755 shares of the company’s stock valued at $2,760,223,000 after acquiring an additional 1,114,954 shares during the period. Geode Capital Management LLC raised its holdings in shares of American Electric Power by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company’s stock valued at $1,280,655,000 after acquiring an additional 352,588 shares in the last quarter. FMR LLC boosted its position in shares of American Electric Power by 18.8% during the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after acquiring an additional 1,087,163 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of American Electric Power by 8.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock worth $466,191,000 after purchasing an additional 341,846 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in American Electric Power by 109.5% in the third quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock valued at $385,079,000 after purchasing an additional 1,962,125 shares in the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Company Profile

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.