Mizuho Reiterates $116.00 Price Target for American Electric Power (NASDAQ:AEP)

American Electric Power (NASDAQ:AEP) has been given a $116.00 price objective by analysts at Mizuho in a report issued on Thursday, Marketbeat Ratings reports. The firm currently has a “neutral” rating on the stock. Mizuho’s price objective indicates a potential upside of 2.13% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Morgan Stanley reduced their price objective on shares of American Electric Power from $114.00 to $113.00 and set an “overweight” rating for the company in a research note on Thursday, May 22nd. Barclays raised their price objective on shares of American Electric Power from $95.00 to $106.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 22nd. Guggenheim raised their price objective on shares of American Electric Power from $109.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Wells Fargo & Company raised their price objective on shares of American Electric Power from $107.00 to $114.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 7th. Finally, BMO Capital Markets raised their price objective on shares of American Electric Power from $111.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, American Electric Power currently has an average rating of “Hold” and an average target price of $111.29.

American Electric Power Stock Up 0.4%

Shares of NASDAQ:AEP opened at $113.58 on Thursday. The company has a market cap of $60.74 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 3.00 and a beta of 0.40. The firm’s 50-day simple moving average is $104.61 and its 200-day simple moving average is $103.95. The company has a quick ratio of 0.31, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. American Electric Power has a fifty-two week low of $89.91 and a fifty-two week high of $114.38.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.16. The business had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.85 billion. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 earnings per share. As a group, equities research analysts predict that American Electric Power will post 5.87 earnings per share for the current year.

Insider Transactions at American Electric Power

In other news, EVP Quinton S. Lies sold 10,141 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $102.68, for a total value of $1,041,277.88. Following the completion of the transaction, the executive vice president owned 9,658 shares of the company’s stock, valued at $991,683.44. The trade was a 51.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David Matthew Feinberg sold 8,058 shares of the business’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total transaction of $819,820.92. Following the completion of the transaction, the executive vice president directly owned 10,274 shares of the company’s stock, valued at approximately $1,045,276.76. This represents a 43.96% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,314 shares of company stock valued at $3,508,293. 0.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On American Electric Power

A number of institutional investors have recently modified their holdings of AEP. Brighton Jones LLC raised its position in shares of American Electric Power by 11.5% in the fourth quarter. Brighton Jones LLC now owns 10,601 shares of the company’s stock valued at $978,000 after buying an additional 1,095 shares during the last quarter. B. Metzler seel. Sohn & Co. AG increased its position in American Electric Power by 7.3% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 18,982 shares of the company’s stock worth $1,751,000 after purchasing an additional 1,290 shares during the last quarter. Diametric Capital LP acquired a new position in American Electric Power during the fourth quarter worth approximately $208,000. Trexquant Investment LP acquired a new position in American Electric Power during the fourth quarter worth approximately $3,258,000. Finally, RFG Bristol Wealth Advisors LLC acquired a new position in American Electric Power during the fourth quarter worth approximately $318,000. 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.