American Electric Power (AEP) Stock Rating Lowered by ValuEngine

ValuEngine cut shares of American Electric Power (NYSE:AEP) from a buy rating to a hold rating in a research note published on Tuesday, December 26th.

A number of other brokerages also recently issued reports on AEP. Mizuho downgraded shares of American Electric Power from a buy rating to a neutral rating and cut their price target for the company from $74.00 to $73.00 in a report on Friday, September 22nd. Morgan Stanley reissued an equal weight rating on shares of American Electric Power in a research note on Friday, September 8th. Bank of America assumed coverage on shares of American Electric Power in a research note on Tuesday, October 24th. They issued a buy rating and a $79.00 price objective on the stock. Royal Bank of Canada reissued a hold rating and issued a $74.00 price objective on shares of American Electric Power in a research note on Monday, October 30th. Finally, Jefferies Group reissued a hold rating and issued a $73.00 price objective on shares of American Electric Power in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $75.08.

American Electric Power (NYSE:AEP) opened at $67.46 on Tuesday. The company has a quick ratio of 0.43, a current ratio of 0.56 and a debt-to-equity ratio of 1.01. The stock has a market cap of $33,180.00, a PE ratio of 17.61, a PEG ratio of 3.83 and a beta of 0.30. American Electric Power has a twelve month low of $62.14 and a twelve month high of $78.07.

American Electric Power (NYSE:AEP) last announced its quarterly earnings results on Thursday, October 26th. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.06). The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.42 billion. American Electric Power had a net margin of 12.21% and a return on equity of 9.67%. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.30 EPS. analysts forecast that American Electric Power will post 3.61 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. boosted its position in shares of American Electric Power by 188.7% in the third quarter. Meeder Asset Management Inc. now owns 5,333 shares of the utilities provider’s stock worth $375,000 after acquiring an additional 3,486 shares during the last quarter. Homrich & Berg boosted its position in shares of American Electric Power by 2.0% in the second quarter. Homrich & Berg now owns 16,034 shares of the utilities provider’s stock worth $1,114,000 after acquiring an additional 321 shares during the last quarter. Captrust Financial Advisors acquired a new stake in shares of American Electric Power in the second quarter worth approximately $630,000. Neuberger Berman Group LLC boosted its position in shares of American Electric Power by 5.5% in the second quarter. Neuberger Berman Group LLC now owns 724,256 shares of the utilities provider’s stock worth $50,314,000 after acquiring an additional 37,578 shares during the last quarter. Finally, Raymond James Trust N.A. boosted its position in shares of American Electric Power by 3.4% in the third quarter. Raymond James Trust N.A. now owns 25,915 shares of the utilities provider’s stock worth $1,820,000 after acquiring an additional 861 shares during the last quarter. 71.04% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for American Electric Power (NYSE:AEP)

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