American Electric Power (NASDAQ:AEP) Upgraded to “Buy” at Guggenheim

American Electric Power (NASDAQ:AEP) was upgraded by Guggenheim from a “neutral” rating to a “buy” rating in a research report issued on Thursday,Finviz reports.

Other research analysts have also recently issued reports about the stock. Morgan Stanley cut their price target on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $102.00 price target (down from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Barclays cut their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 26th. Evercore ISI cut their price target on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Finally, Wells Fargo & Company cut their price target on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $98.00.

American Electric Power Trading Down 0.3 %

Shares of AEP opened at $97.49 on Thursday. American Electric Power has a twelve month low of $75.22 and a twelve month high of $105.18. The company has a market cap of $51.88 billion, a P/E ratio of 19.54, a P/E/G ratio of 2.78 and a beta of 0.56. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The company’s fifty day simple moving average is $94.76 and its 200-day simple moving average is $97.11.

Institutional Trading of American Electric Power

Several hedge funds have recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in shares of American Electric Power in the 3rd quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC purchased a new position in shares of American Electric Power in the 3rd quarter valued at approximately $33,000. Reston Wealth Management LLC purchased a new position in shares of American Electric Power in the 3rd quarter valued at approximately $48,000. Friedenthal Financial purchased a new position in shares of American Electric Power in the 3rd quarter valued at approximately $50,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of American Electric Power in the 3rd quarter valued at approximately $50,000. 75.24% of the stock is 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.