BMO Capital Markets Cuts American Electric Power (NASDAQ:AEP) Price Target to $100.00

American Electric Power (NASDAQ:AEP) had its target price reduced by investment analysts at BMO Capital Markets from $108.00 to $100.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ price target indicates a potential upside of 7.43% from the stock’s current price.

Several other equities research analysts have also recently weighed in on AEP. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. Wells Fargo & Company lowered their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Morgan Stanley cut their price target on American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. UBS Group raised their price target on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Finally, Evercore ISI lowered their target price on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $96.60.

American Electric Power Stock Performance

NASDAQ AEP opened at $93.08 on Friday. 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 business has a 50 day simple moving average of $94.79 and a two-hundred day simple moving average of $96.52. The stock has a market capitalization of $49.53 billion, a PE ratio of 18.65, a P/E/G ratio of 2.70 and a beta of 0.56.

Institutional Investors Weigh In On American Electric Power

A number of institutional investors and hedge funds have recently modified their holdings of the company. HHM Wealth Advisors LLC raised its holdings in American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in American Electric Power in the third quarter valued at $25,000. Safe Harbor Fiduciary LLC purchased a new position in American Electric Power during the third quarter worth about $33,000. Reston Wealth Management LLC acquired a new stake in American Electric Power in the 3rd quarter worth about $48,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in American Electric Power in the 3rd quarter valued at about $50,000. Institutional investors and hedge funds 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.