American Electric Power (NYSE:AEP) had its price target boosted by equities researchers at KeyCorp from $69.00 to $70.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s price target suggests a potential upside of 2.16% from the company’s current price.
AEP has been the topic of a number of other reports. ValuEngine cut shares of American Electric Power from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. SunTrust Banks set a $76.00 price objective on shares of American Electric Power and gave the company a “buy” rating in a research note on Monday, March 19th. JPMorgan Chase cut their price objective on shares of American Electric Power from $70.00 to $69.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 10th. Deutsche Bank upgraded shares of American Electric Power from a “hold” rating to a “buy” rating and lifted their price objective for the company from $68.25 to $75.00 in a research note on Thursday, January 18th. Finally, Mizuho upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $73.93.
Shares of NYSE AEP opened at $68.52 on Wednesday. American Electric Power has a fifty-two week low of $63.32 and a fifty-two week high of $78.07. The company has a current ratio of 0.51, a quick ratio of 0.40 and a debt-to-equity ratio of 1.06. The stock has a market cap of $33,879.50, a P/E ratio of 18.62, a P/E/G ratio of 3.29 and a beta of 0.17.
Institutional investors have recently modified their holdings of the business. Allen Capital Group LLC purchased a new position in American Electric Power in the 4th quarter worth about $208,000. Quadrature Capital Ltd purchased a new position in American Electric Power in the 4th quarter worth about $5,923,000. Cambridge Investment Research Advisors Inc. increased its stake in American Electric Power by 7.2% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 160,118 shares of the utilities provider’s stock worth $11,780,000 after purchasing an additional 10,775 shares in the last quarter. Smart Money Group LLC purchased a new position in American Electric Power in the 4th quarter worth about $328,000. Finally, Welch & Forbes LLC purchased a new position in American Electric Power in the 4th quarter worth about $313,000. Hedge funds and other 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.
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