American Electric Power (NASDAQ:AEP) Price Target Lowered to $86.00 at Scotiabank

American Electric Power (NASDAQ:AEP) had its target price lowered by Scotiabank from $92.00 to $86.00 in a report released on Monday morning, Benzinga reports. The firm currently has a sector outperform rating on the stock.

Several other analysts have also recently commented on the company. Barclays increased their target price on American Electric Power from $83.00 to $84.00 and gave the stock an equal weight rating in a report on Monday, April 15th. BMO Capital Markets increased their target price on American Electric Power from $87.00 to $88.00 and gave the stock an outperform rating in a report on Tuesday, February 27th. UBS Group cut American Electric Power from a neutral rating to a sell rating and decreased their target price for the stock from $86.00 to $83.00 in a report on Monday, March 11th. Mizuho cut American Electric Power from a buy rating to a neutral rating and set a $83.00 target price on the stock. in a report on Thursday, January 11th. Finally, Cfra reiterated a buy rating and issued a $92.00 price target (up previously from $90.00) on shares of American Electric Power in a report on Tuesday, February 27th. Three analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $86.08.

American Electric Power Stock Performance

American Electric Power stock opened at $84.90 on Monday. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.53 and a quick ratio of 0.36. The stock has a fifty day moving average price of $83.05 and a two-hundred day moving average price of $80.15. American Electric Power has a 52-week low of $69.38 and a 52-week high of $94.73. The firm has a market capitalization of $44.71 billion, a P/E ratio of 19.98, a P/E/G ratio of 2.98 and a beta of 0.51.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Tuesday, February 27th. The company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.03). The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $5.12 billion. American Electric Power had a return on equity of 11.04% and a net margin of 11.64%. American Electric Power’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.05 EPS. As a group, analysts anticipate that American Electric Power will post 5.54 EPS for the current fiscal year.

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 AEP. International Assets Investment Management LLC boosted its holdings in American Electric Power by 8.9% during the third quarter. International Assets Investment Management LLC now owns 3,470 shares of the company’s stock worth $263,000 after buying an additional 283 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in American Electric Power by 7.6% during the third quarter. Global Retirement Partners LLC now owns 5,287 shares of the company’s stock worth $388,000 after buying an additional 375 shares during the last quarter. Capital Investment Advisors LLC raised its position in shares of American Electric Power by 2.7% during the third quarter. Capital Investment Advisors LLC now owns 69,294 shares of the company’s stock worth $5,212,000 after purchasing an additional 1,795 shares during the period. Impact Partnership Wealth LLC raised its position in shares of American Electric Power by 1,640.5% during the third quarter. Impact Partnership Wealth LLC now owns 2,193 shares of the company’s stock worth $165,000 after purchasing an additional 2,067 shares during the period. Finally, Fifth Third Wealth Advisors LLC raised its position in shares of American Electric Power by 63.4% during the third quarter. Fifth Third Wealth Advisors LLC now owns 4,962 shares of the company’s stock worth $373,000 after purchasing an additional 1,926 shares during the period. 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.