StockNews.com Initiates Coverage on American Electric Power (NASDAQ:AEP)

Stock analysts at StockNews.com assumed coverage on shares of American Electric Power (NASDAQ:AEP – Get Rating) in a research report issued to clients and investors on Friday. The brokerage set a “hold” rating on the stock.

AEP has been the topic of several other research reports. BMO Capital Markets increased their price objective on shares of American Electric Power from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Friday, December 16th. Wells Fargo & Company downgraded American Electric Power from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $108.00 to $99.00 in a report on Wednesday, February 1st. Bank of America downgraded American Electric Power from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $101.00 to $98.00 in a research note on Monday, December 19th. Cfra raised their target price on American Electric Power from $93.00 to $96.00 and gave the company a “hold” rating in a research note on Friday, February 24th. Finally, Credit Suisse Group upped their price target on shares of American Electric Power from $87.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, December 16th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, American Electric Power presently has an average rating of “Moderate Buy” and an average price target of $100.83.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $90.70 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.56 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $46.61 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 2.88 and a beta of 0.44. American Electric Power has a twelve month low of $80.30 and a twelve month high of $105.60. The business has a 50 day simple moving average of $91.43 and a 200-day simple moving average of $91.08.

American Electric Power (NASDAQ:AEP – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. The firm had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.26 billion. American Electric Power had a net margin of 11.77% and a return on equity of 10.75%. During the same quarter in the previous year, the company posted $0.98 earnings per share. As a group, equities research analysts expect that American Electric Power will post 5.26 earnings per share for the current year.

Insider Buying and Selling at American Electric Power

In related news, EVP Greg B. Hall sold 884 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $90.99, for a total transaction of $80,435.16. Following the transaction, the executive vice president now owns 7,331 shares in the company, valued at $667,047.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP David Matthew Feinberg sold 3,998 shares of the company’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $89.44, for a total value of $357,581.12. Following the completion of the sale, the executive vice president now owns 15,714 shares in the company, valued at $1,405,460.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Greg B. Hall sold 884 shares of American Electric Power stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $90.99, for a total value of $80,435.16. Following the transaction, the executive vice president now directly owns 7,331 shares in the company, valued at $667,047.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,897 shares of company stock valued at $5,723,900. Company insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On American Electric Power

Several large investors have recently made changes to their positions in AEP. Trifecta Capital Advisors LLC purchased a new stake in shares of American Electric Power during the fourth quarter valued at $25,000. EdgeRock Capital LLC purchased a new position in shares of American Electric Power in the third quarter worth approximately $27,000. AXS Investments LLC acquired a new stake in shares of American Electric Power during the fourth quarter valued at approximately $27,000. Dark Forest Capital Management LP lifted its position in shares of American Electric Power by 91.9% in the 4th quarter. Dark Forest Capital Management LP now owns 284 shares of the company’s stock valued at $27,000 after acquiring an additional 136 shares in the last quarter. Finally, Penserra Capital Management LLC acquired a new position in American Electric Power in the 1st quarter worth approximately $27,000. Institutional investors own 74.33% of the company’s stock.

About American Electric Power

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American Electric Power Co, Inc engages in the generation, transmission, and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation and Marketing. The Vertically Integrated Utilities segment covers the generation, transmission, and distribution of electricity for sale to retail and wholesale customers.