American Electric Power (NYSE:AEP) Upgraded at Royal Bank of Canada

Royal Bank of Canada upgraded shares of American Electric Power (NYSE:AEP) from a sector perform rating to an outperform rating in a research report released on Wednesday morning, BenzingaRatingsTable reports. The firm currently has $103.00 target price on the utilities provider’s stock, up from their previous target price of $96.00.

A number of other research firms have also weighed in on AEP. UBS Group increased their price objective on shares of American Electric Power from $100.00 to $105.00 and gave the stock a buy rating in a research note on Friday, September 20th. Wolfe Research set a $101.00 price target on shares of American Electric Power and gave the company a buy rating in a research report on Friday, October 25th. ValuEngine lowered shares of American Electric Power from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Guggenheim lowered shares of American Electric Power from a neutral rating to a sell rating in a research report on Tuesday, January 7th. They noted that the move was a valuation call. Finally, Scotiabank upgraded shares of American Electric Power from a sector perform rating to a sector outperform rating and raised their price target for the company from $93.00 to $102.00 in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. American Electric Power has a consensus rating of Hold and a consensus price target of $97.42.

Shares of NYSE:AEP traded up $0.67 during midday trading on Wednesday, reaching $97.27. The company’s stock had a trading volume of 1,097,424 shares, compared to its average volume of 1,764,394. The firm has a market capitalization of $46.92 billion, a PE ratio of 24.63, a P/E/G ratio of 3.82 and a beta of 0.07. American Electric Power has a twelve month low of $74.56 and a twelve month high of $96.67. The stock has a fifty day moving average of $93.20 and a 200 day moving average of $91.74. The company has a quick ratio of 0.36, a current ratio of 0.48 and a debt-to-equity ratio of 1.27.

American Electric Power (NYSE:AEP) last released its quarterly earnings data on Thursday, October 24th. The utilities provider reported $1.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.14. The firm had revenue of $4.30 billion for the quarter, compared to analyst estimates of $5.08 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.09%. During the same quarter in the prior year, the business earned $1.26 earnings per share. Sell-side analysts anticipate that American Electric Power will post 4.18 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Wedbush Securities Inc. increased its position in American Electric Power by 1.0% during the third quarter. Wedbush Securities Inc. now owns 10,989 shares of the utilities provider’s stock worth $1,030,000 after purchasing an additional 111 shares during the last quarter. Cedar Brook Financial Partners LLC increased its position in American Electric Power by 4.5% during the third quarter. Cedar Brook Financial Partners LLC now owns 2,632 shares of the utilities provider’s stock worth $247,000 after purchasing an additional 113 shares during the last quarter. DeDora Capital Inc. increased its position in American Electric Power by 1.3% during the third quarter. DeDora Capital Inc. now owns 9,048 shares of the utilities provider’s stock worth $848,000 after purchasing an additional 120 shares during the last quarter. Carroll Financial Associates Inc. increased its position in shares of American Electric Power by 2.5% during the third quarter. Carroll Financial Associates Inc. now owns 5,192 shares of the utilities provider’s stock valued at $486,000 after acquiring an additional 128 shares during the last quarter. Finally, Lee Financial Group Hawaii Inc. increased its position in shares of American Electric Power by 0.8% during the third quarter. Lee Financial Group Hawaii Inc. now owns 16,934 shares of the utilities provider’s stock valued at $1,587,000 after acquiring an additional 129 shares during the last quarter. 73.81% of the stock is currently owned by hedge funds and other institutional investors.

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. 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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