American Electric Power (NASDAQ:AEP) Given New $96.00 Price Target at Evercore ISI

American Electric Power (NASDAQ:AEP) had its target price lowered by research analysts at Evercore ISI from $97.00 to $96.00 in a report released on Thursday, Benzinga reports. The firm presently has an “in-line” rating on the stock. Evercore ISI’s price target would indicate a potential downside of 0.26% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. Wells Fargo & Company lifted their target price on American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Guggenheim lifted their target price on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. BMO Capital Markets lifted their target price on American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Scotiabank lifted their target price on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, Barclays lifted their target price on American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $98.27.

American Electric Power Price Performance

Shares of AEP stock opened at $96.25 on Thursday. American Electric Power has a 52-week low of $74.97 and a 52-week high of $105.18. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. The firm has a market capitalization of $51.22 billion, a P/E ratio of 19.17, a P/E/G ratio of 2.78 and a beta of 0.55. The stock has a 50 day moving average price of $100.71 and a 200 day moving average price of $94.77.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.07. The firm had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.39 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. As a group, sell-side analysts predict that American Electric Power will post 5.6 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AEP. HHM Wealth Advisors LLC raised its stake in shares of American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares during the last quarter. LRI Investments LLC raised its position in American Electric Power by 935.9% during the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after buying an additional 365 shares during the last quarter. Briaud Financial Planning Inc lifted its stake in American Electric Power by 52.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after acquiring an additional 150 shares during the period. Naples Money Management LLC purchased a new stake in shares of American Electric Power in the 2nd quarter valued at $44,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of American Electric Power in the second quarter worth $48,000. 75.24% of the stock is owned by institutional investors and hedge funds.

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.