American Electric Power (NASDAQ:AEP) PT raised to $90.00

American Electric Power (NASDAQ:AEP – Get a Free Report) In a research report issued to clients and investors on Wednesday, Scotiabank raised its price target from $86.00 to $90.00, Benzinga reports. The company currently has a ‘sector outperform’ rating on the stock. Scotiabank’s price target suggests a potential upside of 1.98% from the stock’s previous closing price.

Several other analysts have also recently commented on AEP. Barclays raised their target price on shares of American Electric Power from $83.00 to $84.00 and gave the stock an “equalweight” rating in a research note on Monday, April 15. Mizuho downgraded shares of American Electric Power from a “buy” rating to a “neutral” rating and set an $83.00 price target on the stock. in a report on Thursday, January 11. LADENBURG THALM/SH SH downgraded shares of American Electric Power from a “neutral” rating to a “sell” rating and lowered their price target for the company from $75.50 to $73.00 in a research note on Friday, March 8. StockNews.com downgraded shares of American Electric Power from a “hold” rating to a “sell” rating in a research note on Friday, March 15. Finally, Cfra reaffirmed a “buy” rating and set a $92.00 price target (previously $90.00) on shares of American Electric Power in a research report on Tuesday, February 27. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, American Electric Power has an average rating of “Hold” and a consensus price target of $87.36.

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US electricity supplies rise 0.1%

Shares of NASDAQ AEP opened at $88.25 on Wednesday. The stock has a market cap of $46.47 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 3.02 and a beta of 0.50. The company has a current ratio of 0.54, a quick ratio of 0.36 and a debt-to-equity ratio of 1.50. American Electric Power has a 12-month low of $69.38 and a 12-month high of $92.88. The company’s fifty-day simple moving average is $83.85 and its 200-day simple moving average is $80.72.

American Electric Power (NASDAQ:AEP – Get Free Report) last posted its quarterly earnings data on Tuesday, April 30. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.02. The company had revenue of $5 billion for the quarter, compared to analyst estimates of $5.02 billion. American Electric Power had a return on equity of 11.23% and a net margin of 14.60%. The company’s quarterly revenue increased 6.4% compared to the same quarter last year. In the same quarter last year, the company posted earnings per share of $1.11. As a group, stock analysts predict that American Electric Power will post earnings per share of 5.58 for the current fiscal year.

Institutional investors are considering America’s electricity supply

A number of major investors have recently adjusted their holdings of AEP. Wellington Management Group LLP grew its position in American Electric Power by 14.4% during the third quarter. Wellington Management Group LLP now owns 28,591,562 shares of the company’s stock valued at $2,150,657,000 after purchasing an additional 3,589,451 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of American Electric Power during the fourth quarter worth approximately $175,667,000. Nordea Investment Management AB grew its holdings in shares of American Electric Power by 381.9% in the first quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock valued at $171,127,000 after purchasing an additional 1,581,734 shares during the last quarter. Invesco Ltd. grew its stake in shares of American Electric Power by 13.7% in the third quarter. Invesco Ltd. now owns 9,798,204 shares of the company’s stock valued at $737,021,000 after purchasing an additional 1,181,706 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of American Electric Power by 67.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,586,250 shares of the company’s stock, valued at $210,055,000, after purchasing an additional 1,043,885 shares in the last quarter. Institutional investors own 75.24% of the company’s shares.

About American electricity

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American Electric Power Company, Inc, an electric 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 the Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco and Generation & Marketing segments.

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