American Electric Power (NASDAQ:AEP) Price Target Raised to $114.00

American Electric Power (NASDAQ:AEP) had its price objective upped by equities researchers at Bank of America from $108.00 to $114.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective suggests a potential upside of 7.69% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. BMO Capital Markets dropped their price objective on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Scotiabank downgraded American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $105.00 to $102.00 in a report on Thursday, December 12th. Barclays cut their price objective on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 26th. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley dropped their target price on American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $99.23.

American Electric Power Stock Performance

NASDAQ:AEP opened at $105.86 on Tuesday. The company has a market cap of $56.45 billion, a P/E ratio of 18.90, a P/E/G ratio of 2.97 and a beta of 0.50. The firm’s 50 day moving average is $100.80 and its two-hundred day moving average is $98.91. American Electric Power has a fifty-two week low of $79.16 and a fifty-two week high of $109.52. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, meeting the consensus estimate of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same period last year, the company posted $1.23 EPS. Analysts expect that American Electric Power will post 5.87 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC bought a new position in shares of American Electric Power during the third quarter worth about $25,000. Skandinaviska Enskilda Banken AB publ bought a new position in American Electric Power during the 4th quarter worth approximately $25,000. Fourth Dimension Wealth LLC acquired a new position in shares of American Electric Power in the 4th quarter worth approximately $28,000. Fairway Wealth LLC bought a new stake in shares of American Electric Power in the 4th quarter valued at approximately $32,000. Finally, Safe Harbor Fiduciary LLC acquired a new stake in shares of American Electric Power during the 3rd quarter valued at approximately $33,000. 75.24% of the stock is owned by institutional investors and hedge funds.

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.