American Electric Power (NASDAQ:AEP) Downgraded by Scotiabank to “Sector Perform”

American Electric Power (NASDAQ:AEP) was downgraded by equities researchers at Scotiabank from a “sector outperform” rating to a “sector perform” rating in a report issued on Thursday, MarketBeat Ratings reports. They currently have a $102.00 price objective on the stock, down from their prior price objective of $105.00. Scotiabank’s target price points to a potential upside of 10.02% from the stock’s current price.

A number of other brokerages have also commented on AEP. BMO Capital Markets raised their target price on shares of American Electric Power from $104.00 to $108.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Jefferies Financial Group began coverage on American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 price target on the stock. JPMorgan Chase & Co. restated a “neutral” rating and issued a $102.00 price objective (down from $109.00) on shares of American Electric Power in a report on Thursday. Wells Fargo & Company dropped their target price on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Finally, Evercore ISI reduced their price target on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $97.13.

American Electric Power Stock Down 0.2 %

Shares of AEP opened at $92.71 on Thursday. The firm has a market capitalization of $49.33 billion, a P/E ratio of 18.58, a P/E/G ratio of 2.70 and a beta of 0.55. American Electric Power has a 12-month low of $75.22 and a 12-month high of $105.18. The firm has a fifty day moving average price of $97.50 and a 200-day moving average price of $96.06. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.

Hedge Funds Weigh In On American Electric Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in shares of American Electric Power in the third quarter valued at about $25,000. HHM Wealth Advisors LLC boosted its position in American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after buying an additional 103 shares during the last quarter. Safe Harbor Fiduciary LLC purchased a new stake in American Electric Power in the third quarter valued at approximately $33,000. LRI Investments LLC raised its position in American Electric Power by 935.9% during the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after buying an additional 365 shares during the last quarter. Finally, Briaud Financial Planning Inc raised its position in American Electric Power by 52.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after buying an additional 150 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.