Wells Fargo & Company Cuts American Electric Power (NASDAQ:AEP) Price Target to $102.00

American Electric Power (NASDAQ:AEP) had its price target lowered by investment analysts at Wells Fargo & Company from $104.00 to $102.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 6.46% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley lifted their target price on American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Scotiabank lifted their price objective on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. upped their target price on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Evercore ISI lowered their price target on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research report on Thursday. Finally, Jefferies Financial Group initiated coverage on shares of American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, American Electric Power currently has a consensus rating of “Hold” and a consensus price target of $98.13.

American Electric Power Price Performance

Shares of American Electric Power stock traded down $0.44 during trading on Thursday, reaching $95.81. The company’s stock had a trading volume of 265,657 shares, compared to its average volume of 3,141,955. American Electric Power has a one year low of $74.97 and a one year high of $105.18. The stock has a 50-day moving average price of $100.71 and a two-hundred day moving average price of $94.77. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $50.98 billion, a P/E ratio of 19.09, a price-to-earnings-growth ratio of 2.78 and a beta of 0.55.

American Electric Power (NASDAQ:AEP) last announced its 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. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The company had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.39 billion. As a group, sell-side analysts anticipate that American Electric Power will post 5.6 EPS for the current fiscal year.

Hedge Funds Weigh In On American Electric Power

Several institutional investors have recently modified their holdings of AEP. Norden Group LLC bought a new stake in American Electric Power in the 1st quarter valued at approximately $419,000. Empirical Finance LLC grew its position in American Electric Power by 3.6% in the first quarter. Empirical Finance LLC now owns 18,420 shares of the company’s stock valued at $1,586,000 after purchasing an additional 641 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in American Electric Power by 6.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 65,703 shares of the company’s stock valued at $5,657,000 after buying an additional 3,845 shares during the last quarter. Quantbot Technologies LP bought a new stake in American Electric Power during the 1st quarter worth about $1,731,000. Finally, Empowered Funds LLC boosted its stake in shares of American Electric Power by 47.6% during the 1st quarter. Empowered Funds LLC now owns 33,687 shares of the company’s stock worth $2,900,000 after buying an additional 10,868 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

American Electric Power Company Profile

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.