Bank of America Forecasts Strong Price Appreciation for American Electric Power (NASDAQ:AEP) Stock

American Electric Power (NASDAQ:AEP) had its price target increased by equities researchers at Bank of America from $108.00 to $114.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective suggests a potential upside of 7.71% from the stock’s previous close.

Several other equities analysts have also issued reports on AEP. Morgan Stanley decreased their price objective on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Barclays cut their target price on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 26th. BMO Capital Markets cut their target price on American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $102.00 target price (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, American Electric Power has an average rating of “Hold” and an average price target of $99.23.

American Electric Power Stock Performance

Shares of NASDAQ:AEP opened at $105.84 on Tuesday. The stock has a market capitalization of $56.44 billion, a P/E ratio of 18.90, a P/E/G ratio of 2.97 and a beta of 0.50. American Electric Power has a 1-year low of $79.16 and a 1-year high of $109.52. The business has a 50-day moving average price of $101.38 and a two-hundred day moving average price of $99.00. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same quarter last year, the company posted $1.23 earnings per share. Equities analysts predict that American Electric Power will post 5.87 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC grew its holdings in shares of American Electric Power by 3.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 12,627 shares of the company’s stock worth $1,296,000 after purchasing an additional 426 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of American Electric Power by 4.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 27,874 shares of the company’s stock worth $2,860,000 after purchasing an additional 1,131 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of American Electric Power during the 3rd quarter worth $377,000. Cassaday & Co Wealth Management LLC grew its holdings in shares of American Electric Power by 14.1% during the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 5,673 shares of the company’s stock worth $582,000 after purchasing an additional 702 shares in the last quarter. Finally, Meeder Advisory Services Inc. grew its holdings in shares of American Electric Power by 7.2% during the 3rd quarter. Meeder Advisory Services Inc. now owns 13,090 shares of the company’s stock worth $1,343,000 after purchasing an additional 882 shares in the last quarter. 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.