American Electric Power (AEP) Given a $76.00 Price Target by SunTrust Banks Analysts

American Electric Power (NYSE:AEP) has been given a $76.00 price objective by SunTrust Banks in a report issued on Monday. The firm currently has a “buy” rating on the utilities provider’s stock. SunTrust Banks’ target price indicates a potential upside of 12.68% from the company’s previous close.

AEP has been the subject of several other reports. Morgan Stanley upgraded 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 downgraded American Electric Power from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Zacks Investment Research downgraded American Electric Power from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Guggenheim upgraded American Electric Power from a “sell” rating to a “neutral” rating in a report on Tuesday, February 20th. Finally, UBS assumed coverage on American Electric Power in a report on Friday, February 2nd. They set a “buy” rating and a $76.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $74.43.

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American Electric Power stock opened at $67.45 on Monday. The company has a quick ratio of 0.40, a current ratio of 0.51 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $33,362.90, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 3.24 and a beta of 0.22. American Electric Power has a twelve month low of $63.32 and a twelve month high of $78.07.

American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Thursday, January 25th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.04. The business had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.92 billion. American Electric Power had a return on equity of 10.05% and a net margin of 12.39%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 earnings per share. equities analysts forecast that American Electric Power will post 3.89 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in AEP. JPMorgan Chase & Co. boosted its position in shares of American Electric Power by 70.2% during the third quarter. JPMorgan Chase & Co. now owns 6,696,615 shares of the utilities provider’s stock valued at $472,110,000 after buying an additional 2,762,164 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of American Electric Power by 29.1% during the third quarter. Wells Fargo & Company MN now owns 10,029,371 shares of the utilities provider’s stock valued at $704,464,000 after buying an additional 2,260,303 shares during the last quarter. Jennison Associates LLC boosted its position in shares of American Electric Power by 60.0% during the fourth quarter. Jennison Associates LLC now owns 3,125,059 shares of the utilities provider’s stock valued at $229,911,000 after buying an additional 1,172,085 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of American Electric Power by 36.4% during the third quarter. Ameriprise Financial Inc. now owns 4,140,524 shares of the utilities provider’s stock valued at $290,796,000 after buying an additional 1,103,849 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of American Electric Power by 2.3% during the fourth quarter. BlackRock Inc. now owns 33,713,494 shares of the utilities provider’s stock valued at $2,480,302,000 after buying an additional 763,950 shares during the last quarter. 71.61% of the stock is currently owned by institutional investors.

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About American Electric Power

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)

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