American Electric Power (NASDAQ:AEP) Price Target Raised to $108.00

American Electric Power (NASDAQ:AEP) had its price objective upped by JPMorgan Chase & Co. from $101.00 to $108.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 8.59% from the company’s current price.

Several other research analysts have also issued reports on AEP. Royal Bank of Canada raised their price target on shares of American Electric Power from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Bank of America lowered shares of American Electric Power from a “neutral” rating to an “underperform” rating and raised their price target for the stock from $96.00 to $97.00 in a report on Tuesday. StockNews.com upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Barclays lifted their price objective on shares of American Electric Power from $91.00 to $96.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, Scotiabank lifted their price objective on shares of American Electric Power from $90.00 to $99.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $93.38.

American Electric Power Trading Up 1.2 %

NASDAQ AEP traded up $1.17 during trading hours on Wednesday, reaching $99.46. The company’s stock had a trading volume of 1,240,579 shares, compared to its average volume of 3,282,854. The firm has a fifty day simple moving average of $90.86 and a 200-day simple moving average of $86.37. The stock has a market cap of $52.43 billion, a P/E ratio of 18.56, a P/E/G ratio of 2.92 and a beta of 0.53. American Electric Power has a 52 week low of $69.38 and a 52 week high of $104.41. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.37.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business earned $1.13 EPS. Equities analysts forecast that American Electric Power will post 5.59 earnings per share for the current fiscal year.

Insider Transactions at American Electric Power

In other news, insider Therace Risch 5,274 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other American Electric Power news, EVP Antonio P. Smyth sold 4,898 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total transaction of $440,820.00. Following the sale, the executive vice president now directly owns 6,446 shares of the company’s stock, valued at $580,140. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Therace Risch 5,274 shares of the company’s stock in a transaction on Tuesday, July 30th. The disclosure for this trade can be found here. Company insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Denali Advisors LLC bought a new position in shares of American Electric Power in the first quarter worth approximately $26,000. Rise Advisors LLC bought a new position in American Electric Power during the first quarter valued at approximately $27,000. Frazier Financial Advisors LLC bought a new position in American Electric Power during the fourth quarter valued at approximately $26,000. YHB Investment Advisors Inc. bought a new position in American Electric Power during the first quarter valued at approximately $29,000. Finally, Wetzel Investment Advisors Inc. bought a new position in American Electric Power during the fourth quarter valued at approximately $32,000. 75.24% of the stock is currently owned by 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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.