American Electric Power (NASDAQ:AEP) PT Raised to $112.00

American Electric Power (NASDAQ:AEP) had its price target lifted by equities researchers at JPMorgan Chase & Co. from $108.00 to $112.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 11.23% from the company’s previous close.

Several other equities analysts have also recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a research report on Wednesday. Guggenheim lifted their price target on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Bank of America increased their price objective on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Barclays upped their target price on shares of American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Finally, BMO Capital Markets boosted their price objective on shares of American Electric Power from $109.00 to $114.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $98.43.

American Electric Power Stock Performance

American Electric Power stock opened at $100.69 on Friday. American Electric Power has a 1-year low of $72.01 and a 1-year high of $105.18. The firm has a market cap of $53.08 billion, a P/E ratio of 18.68, a P/E/G ratio of 2.79 and a beta of 0.54. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. The firm has a 50-day moving average of $100.43 and a 200-day moving average of $93.34.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.02. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The firm had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the previous year, the firm earned $1.13 earnings per share. The business’s revenue was up 4.5% compared to the same quarter last year. Sell-side analysts expect that American Electric Power will post 5.6 EPS for the current year.

Hedge Funds Weigh In On American Electric Power

Institutional investors and hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of American Electric Power by 8.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock worth $466,191,000 after buying an additional 341,846 shares during the last quarter. OLD National Bancorp IN raised its stake in shares of American Electric Power by 3.6% in the third quarter. OLD National Bancorp IN now owns 124,863 shares of the company’s stock worth $12,811,000 after buying an additional 4,374 shares during the period. Powers Advisory Group LLC bought a new position in shares of American Electric Power during the 3rd quarter valued at approximately $214,000. Chicago Capital LLC boosted its position in shares of American Electric Power by 4.7% in the third quarter. Chicago Capital LLC now owns 6,646 shares of the company’s stock worth $682,000 after purchasing an additional 301 shares during the period. Finally, Friedenthal Financial purchased a new stake in shares of American Electric Power in the third quarter worth $50,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

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.