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

American Electric Power (NASDAQ:AEP) had its price objective hoisted by Bank of America from $108.00 to $114.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target suggests a potential upside of 7.71% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Scotiabank downgraded American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $105.00 to $102.00 in a research report on Thursday, December 12th. Morgan Stanley dropped their target price on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. BMO Capital Markets dropped their target price on American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $102.00 target price (down from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, American Electric Power has an average rating of “Hold” and a consensus target price of $99.23.

American Electric Power Stock Performance

NASDAQ:AEP opened at $105.84 on Tuesday. The stock’s 50-day simple moving average is $101.38 and its 200 day simple moving average is $99.00. The firm has a market capitalization of $56.44 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 2.97 and a beta of 0.50. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. American Electric Power has a twelve month low of $79.16 and a twelve month high of $109.52.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, meeting the consensus estimate 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 firm earned $1.23 EPS. On average, analysts anticipate that American Electric Power will post 5.87 EPS for the current fiscal year.

Institutional Investors Weigh In On American Electric Power

Several large investors have recently added to or reduced their stakes in the business. 111 Capital acquired a new stake in American Electric Power during the fourth quarter worth approximately $347,000. Thoma Capital Management LLC acquired a new stake in American Electric Power during the fourth quarter worth approximately $743,000. NorthCrest Asset Manangement LLC grew its stake in American Electric Power by 0.7% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 23,207 shares of the company’s stock worth $2,140,000 after purchasing an additional 158 shares during the period. Anchor Pointe Wealth Management LLC acquired a new stake in American Electric Power during the fourth quarter worth approximately $229,000. Finally, SpringVest Wealth Management LLC acquired a new stake in American Electric Power in the fourth quarter valued at approximately $3,204,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.