Morgan Stanley Boosts American Electric Power (AEP) Price Target to $73.00

American Electric Power (NYSE:AEP) had its target price lifted by stock analysts at Morgan Stanley from $71.00 to $73.00 in a research report issued on Monday. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 7.88% from the stock’s previous close.

AEP has been the subject of a number of other reports. JPMorgan Chase dropped their price target on shares of American Electric Power from $70.00 to $69.00 and set a “neutral” rating for the company in a research report on Tuesday, April 10th. ValuEngine cut shares of American Electric Power from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Guggenheim upgraded shares of American Electric Power from a “sell” rating to a “neutral” rating in a report on Tuesday, February 20th. SunTrust Banks set a $76.00 price objective on shares of American Electric Power and gave the company a “buy” rating in a report on Monday, March 19th. Finally, UBS assumed coverage on shares of American Electric Power in a report on Friday, February 2nd. They issued a “buy” rating and a $76.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $74.14.

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Shares of AEP traded up $0.33 during trading on Monday, reaching $67.67. 64,729 shares of the company traded hands, compared to its average volume of 3,431,341. American Electric Power has a twelve month low of $63.32 and a twelve month high of $78.07. The stock has a market cap of $33,131.65, a PE ratio of 18.39, a P/E/G ratio of 3.22 and a beta of 0.17. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.51 and a quick ratio of 0.40.

American Electric Power (NYSE:AEP) last announced its quarterly earnings results on Thursday, January 25th. The utilities provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.04. American Electric Power had a net margin of 12.39% and a return on equity of 10.05%. The business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period last year, the business earned $0.67 earnings per share. The business’s revenue for the quarter was up .0% on a year-over-year basis. sell-side analysts expect that American Electric Power will post 3.88 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of AEP. Wells Fargo & Company MN grew its holdings in American Electric Power by 15.2% during the 4th quarter. Wells Fargo & Company MN now owns 11,555,836 shares of the utilities provider’s stock worth $850,164,000 after acquiring an additional 1,526,465 shares in the last quarter. Jennison Associates LLC grew its holdings in American Electric Power by 60.0% during the 4th quarter. Jennison Associates LLC now owns 3,125,059 shares of the utilities provider’s stock worth $229,911,000 after acquiring an additional 1,172,085 shares in the last quarter. BlackRock Inc. grew its holdings in American Electric Power by 2.3% during the 4th quarter. BlackRock Inc. now owns 33,713,494 shares of the utilities provider’s stock worth $2,480,302,000 after acquiring an additional 763,950 shares in the last quarter. CHURCHILL MANAGEMENT Corp grew its holdings in American Electric Power by 630.8% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 293,571 shares of the utilities provider’s stock worth $21,598,000 after acquiring an additional 253,402 shares in the last quarter. Finally, APG Asset Management N.V. grew its holdings in American Electric Power by 7.5% during the 4th quarter. APG Asset Management N.V. now owns 3,627,906 shares of the utilities provider’s stock worth $222,273,000 after acquiring an additional 251,700 shares in the last quarter. Institutional investors own 71.70% of the company’s stock.

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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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

Analyst Recommendations for American Electric Power (NYSE:AEP)

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