American Electric Power (AEP) Lifted to “Buy” at Deutsche Bank

Deutsche Bank upgraded shares of American Electric Power (NYSE:AEP) from a hold rating to a buy rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. Deutsche Bank currently has $75.00 target price on the utilities provider’s stock, up from their prior target price of $68.25.

A number of other brokerages also recently issued reports on AEP. Zacks Investment Research downgraded American Electric Power from a hold rating to a sell rating in a report on Tuesday, December 12th. Morgan Stanley raised American Electric Power from an equal weight rating to an overweight rating and set a $83.00 price target for the company in a report on Wednesday, December 13th. ValuEngine raised American Electric Power from a hold rating to a buy rating in a report on Tuesday, November 14th. Royal Bank of Canada reaffirmed a hold rating and set a $74.00 price target on shares of American Electric Power in a report on Monday, October 30th. Finally, Bank of America assumed coverage on American Electric Power in a report on Tuesday, October 24th. They set a buy rating and a $79.00 price target for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. American Electric Power presently has a consensus rating of Buy and an average price target of $75.33.

Shares of American Electric Power (NYSE AEP) opened at $67.76 on Thursday. The stock has a market capitalization of $33,330.16, a PE ratio of 17.74, a price-to-earnings-growth ratio of 3.67 and a beta of 0.30. The company has a current ratio of 0.56, a quick ratio of 0.43 and a debt-to-equity ratio of 1.01. American Electric Power has a fifty-two week low of $62.14 and a fifty-two week high of $78.07.

American Electric Power (NYSE:AEP) last announced its quarterly earnings results on Thursday, October 26th. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.06). The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.42 billion. American Electric Power had a return on equity of 9.67% and a net margin of 12.21%. The firm’s quarterly revenue was down 12.8% on a year-over-year basis. During the same period last year, the firm earned $1.30 earnings per share. sell-side analysts predict that American Electric Power will post 3.62 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of AEP. ProShare Advisors LLC increased its position in shares of American Electric Power by 0.4% during the second quarter. ProShare Advisors LLC now owns 78,228 shares of the utilities provider’s stock worth $5,434,000 after purchasing an additional 281 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of American Electric Power by 0.8% during the second quarter. Mutual of America Capital Management LLC now owns 59,974 shares of the utilities provider’s stock worth $4,166,000 after purchasing an additional 472 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of American Electric Power by 5.3% during the second quarter. UBS Asset Management Americas Inc. now owns 1,671,242 shares of the utilities provider’s stock worth $116,101,000 after purchasing an additional 83,907 shares in the last quarter. Pinebridge Investments L.P. increased its position in shares of American Electric Power by 904.1% during the second quarter. Pinebridge Investments L.P. now owns 4,177 shares of the utilities provider’s stock worth $291,000 after purchasing an additional 3,761 shares in the last quarter. Finally, South Texas Money Management Ltd. increased its position in shares of American Electric Power by 3.5% during the second quarter. South Texas Money Management Ltd. now owns 4,206 shares of the utilities provider’s stock worth $292,000 after purchasing an additional 141 shares in the last quarter. Institutional investors and hedge funds own 70.97% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “American Electric Power (AEP) Lifted to “Buy” at Deutsche Bank” was originally posted by Week Herald and is owned by of Week Herald. If you are accessing this news story on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The legal version of this news story can be viewed at https://weekherald.com/2018/01/22/american-electric-power-aep-lifted-to-buy-at-deutsche-bank.html.

American Electric Power Company Profile

American Electric Power Company, Inc (AEP) is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.

Analyst Recommendations for American Electric Power (NYSE:AEP)

Receive News & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply