The Royal Bank Of Canada Trims American Electric Power Co. (AEP) Target Price to $67.00

The Royal Bank Of Canada Trims American Electric Power Co. (AEP) Target Price to $67.00

American Electric Power Co. (NYSE:AEP) had its price objective reduced by Royal Bank Of Canada from $72.00 to $67.00 in a research report report published on Thursday morning. Royal Bank Of Canada currently has a sector perform rating on the stock.

AEP has been the subject of several other reports. Zacks Investment Research cut American Electric Power from a hold rating to a sell rating in a report on Wednesday, June 15th. Morgan Stanley restated a hold rating on shares of American Electric Power in a report on Wednesday, June 15th. Jefferies Group upped their target price on American Electric Power from $70.00 to $75.00 and gave the company a buy rating in a report on Friday, June 17th. KeyCorp restated an outperform rating and issued a $72.50 target price (up from $69.00) on shares of American Electric Power in a report on Saturday, July 2nd. Finally, Citigroup Inc. upped their target price on American Electric Power from $61.00 to $68.00 and gave the company a neutral rating in a report on Wednesday, July 20th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. American Electric Power has a consensus rating of Buy and an average target price of $68.17.

Shares of American Electric Power (NYSE:AEP) opened at 62.97 on Thursday. The stock’s 50 day moving average price is $64.24 and its 200 day moving average price is $66.03. American Electric Power has a 52-week low of $53.30 and a 52-week high of $71.32. The company has a market capitalization of $30.96 billion, a P/E ratio of 15.54 and a beta of 0.23.

American Electric Power (NYSE:AEP) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.05. American Electric Power had a return on equity of 9.54% and a net margin of 12.50%. The firm earned $3.90 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the business earned $0.88 earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities research analysts forecast that American Electric Power will post $3.69 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Brick & Kyle Associates raised its stake in American Electric Power by 18.7% in the second quarter. Brick & Kyle Associates now owns 1,430 shares of the company’s stock worth $100,000 after buying an additional 225 shares in the last quarter. Jackson Grant Investment Advisers Inc. raised its stake in American Electric Power by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,447 shares of the company’s stock worth $101,000 after buying an additional 12 shares in the last quarter. Van ECK Associates Corp bought a new stake in American Electric Power during the second quarter worth about $104,000. Krilogy Financial LLC raised its stake in American Electric Power by 105.2% in the second quarter. Krilogy Financial LLC now owns 1,531 shares of the company’s stock worth $107,000 after buying an additional 785 shares in the last quarter. Finally, Wealthcare Capital Management LLC bought a new stake in American Electric Power during the second quarter worth about $108,000. 68.66% of the stock is currently owned by institutional investors.

About American Electric Power

Related posts

Leave a Comment