American Electric Power (NASDAQ:AEP) Given New $114.00 Price Target at Bank of America

American Electric Power (NASDAQ:AEP) had its target price raised by investment analysts at Bank of America from $108.00 to $114.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price target points to a potential upside of 7.69% from the stock’s current price.

AEP has been the topic of a number of other reports. Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $105.00 to $102.00 in a research report on Thursday, December 12th. Morgan Stanley decreased their price objective on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $102.00 target price (down from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Finally, BMO Capital Markets decreased their price target on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, American Electric Power has a consensus rating of “Hold” and an average price target of $99.23.

American Electric Power Stock Up 0.3 %

Shares of NASDAQ AEP opened at $105.86 on Tuesday. The stock has a market cap of $56.45 billion, a P/E ratio of 18.90, a PEG ratio of 2.97 and a beta of 0.50. The business’s fifty day simple moving average is $100.80 and its 200-day simple moving average is $98.91. American Electric Power has a 12-month low of $79.16 and a 12-month high of $109.52. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same period last year, the company posted $1.23 EPS. As a group, equities analysts predict that American Electric Power will post 5.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AEP. Safeguard Investment Advisory Group LLC raised its holdings in shares of American Electric Power by 4.3% in the fourth quarter. Safeguard Investment Advisory Group LLC now owns 2,414 shares of the company’s stock worth $223,000 after acquiring an additional 100 shares during the last quarter. SouthState Corp lifted its holdings in American Electric Power by 1.6% in the 4th quarter. SouthState Corp now owns 6,611 shares of the company’s stock valued at $610,000 after purchasing an additional 102 shares in the last quarter. Ascent Group LLC boosted its stake in shares of American Electric Power by 0.4% during the 4th quarter. Ascent Group LLC now owns 27,889 shares of the company’s stock worth $2,572,000 after purchasing an additional 102 shares during the last quarter. Dark Forest Capital Management LP grew its holdings in shares of American Electric Power by 2.3% during the fourth quarter. Dark Forest Capital Management LP now owns 4,537 shares of the company’s stock worth $418,000 after buying an additional 103 shares in the last quarter. Finally, PSI Advisors LLC raised its position in shares of American Electric Power by 10.6% in the fourth quarter. PSI Advisors LLC now owns 1,113 shares of the company’s stock valued at $103,000 after buying an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

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.