American Electric Power (NYSE:AEP) Price Target Lowered to $82.00 at Barclays

American Electric Power (NYSE:AEP) had its price objective cut by Barclays from $107.00 to $82.00 in a report issued on Thursday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price target indicates a potential upside of 2.42% from the stock’s previous close.

Several other research analysts have also weighed in on the company. Royal Bank of Canada raised American Electric Power from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $96.00 to $103.00 in a research report on Wednesday, January 15th. Citigroup boosted their price target on American Electric Power from $96.00 to $101.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. TheStreet lowered American Electric Power from a “b” rating to a “c+” rating in a research report on Friday, March 20th. Zacks Investment Research lowered American Electric Power from a “hold” rating to a “sell” rating and set a $101.00 price target on the stock. in a research report on Wednesday, January 15th. Finally, Scotiabank raised American Electric Power from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $93.00 to $102.00 in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $100.50.

Shares of NYSE:AEP traded up $6.77 during trading on Thursday, hitting $80.06. 168,729 shares of the company’s stock traded hands, compared to its average volume of 5,527,732. American Electric Power has a 52 week low of $65.14 and a 52 week high of $104.97. The company has a current ratio of 0.40, a quick ratio of 0.28 and a debt-to-equity ratio of 1.30. The company has a market cap of $37.84 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 2.80 and a beta of 0.31. The company has a 50-day moving average price of $94.19 and a 200-day moving average price of $93.89.

American Electric Power (NYSE:AEP) last released its earnings results on Thursday, February 20th. The utilities provider reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $4.37 billion. American Electric Power had a return on equity of 10.67% and a net margin of 12.34%. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 EPS. On average, analysts predict that American Electric Power will post 4.36 earnings per share for the current fiscal year.

In other American Electric Power news, CFO Brian X. Tierney sold 18,573 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $101.55, for a total value of $1,886,088.15. Following the transaction, the chief financial officer now directly owns 45,162 shares of the company’s stock, valued at approximately $4,586,201.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nicholas K. Akins sold 69,657 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $101.05, for a total value of $7,038,839.85. Following the completion of the transaction, the chief executive officer now directly owns 170,522 shares in the company, valued at $17,231,248.10. The disclosure for this sale can be found here. Insiders have sold a total of 108,304 shares of company stock worth $10,899,717 over the last three months. 0.16% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of AEP. Wealth Quarterback LLC acquired a new position in American Electric Power in the 4th quarter valued at $2,553,710,000. Millennium Management LLC lifted its position in shares of American Electric Power by 360.6% during the 3rd quarter. Millennium Management LLC now owns 1,234,988 shares of the utilities provider’s stock valued at $115,706,000 after acquiring an additional 966,851 shares during the period. Macquarie Group Ltd. lifted its position in shares of American Electric Power by 227.3% during the 4th quarter. Macquarie Group Ltd. now owns 1,206,926 shares of the utilities provider’s stock valued at $114,067,000 after acquiring an additional 838,212 shares during the period. Zimmer Partners LP bought a new stake in shares of American Electric Power during the 3rd quarter valued at $61,911,000. Finally, Pictet Asset Management Ltd. lifted its position in shares of American Electric Power by 16.9% during the 4th quarter. Pictet Asset Management Ltd. now owns 4,357,227 shares of the utilities provider’s stock valued at $411,802,000 after acquiring an additional 629,160 shares during the period. 73.78% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Company Profile

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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Analyst Recommendations for American Electric Power (NYSE:AEP)

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