American Electric Power (NASDAQ:AEP) Price Target Lowered to $104.00 at Morgan Stanley

American Electric Power (NASDAQ:AEP) had its target price reduced by investment analysts at Morgan Stanley from $109.00 to $104.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 6.15% from the company’s current price.

Several other research firms have also recently commented on AEP. JPMorgan Chase & Co. boosted their target price on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. BMO Capital Markets lowered their price target on American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Bank of America upped their price target on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Jefferies Financial Group began coverage on American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 price target on the stock. Finally, Barclays upped their price target on American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, American Electric Power currently has an average rating of “Hold” and an average price target of $98.00.

American Electric Power Stock Performance

Shares of NASDAQ:AEP traded down $0.11 during midday trading on Friday, reaching $97.97. 736,204 shares of the company traded hands, compared to its average volume of 3,143,026. American Electric Power has a 12 month low of $75.22 and a 12 month high of $105.18. The firm’s fifty day moving average price is $99.24 and its two-hundred day moving average price is $95.40. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $52.13 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 2.79 and a beta of 0.55.

Institutional Investors Weigh In On American Electric Power

A number of institutional investors and hedge funds have recently bought and sold shares of AEP. HHM Wealth Advisors LLC raised its holdings in American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares during the period. Legacy Investment Solutions LLC bought a new stake in American Electric Power during the third quarter valued at about $25,000. Safe Harbor Fiduciary LLC bought a new stake in American Electric Power during the third quarter valued at about $33,000. LRI Investments LLC increased its holdings in shares of American Electric Power by 935.9% in the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after purchasing an additional 365 shares during the last quarter. Finally, Briaud Financial Planning Inc increased its holdings in shares of American Electric Power by 52.1% in the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. 75.24% of the stock is 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.