American Electric Power (AEP) Cut to “Equal Weight” at Morgan Stanley

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Morgan Stanley lowered shares of American Electric Power (NYSE:AEP) from an overweight rating to an equal weight rating in a research report released on Thursday morning, Benzinga reports. The brokerage currently has $83.20 target price on the utilities provider’s stock, down from their prior target price of $86.00.

A number of other analysts have also recently issued reports on AEP. Mizuho cut shares of American Electric Power from a buy rating to a neutral rating and set a $72.00 price objective for the company. in a research note on Thursday, January 3rd. They noted that the move was a valuation call. Zacks Investment Research lowered shares of American Electric Power from a hold rating to a sell rating in a research report on Friday, January 4th. Guggenheim lowered shares of American Electric Power from a buy rating to a neutral rating in a research report on Monday, January 7th. They noted that the move was a valuation call. JPMorgan Chase & Co. set a $78.00 target price on shares of American Electric Power and gave the stock a hold rating in a research report on Friday, January 25th. Finally, Goldman Sachs Group lowered shares of American Electric Power from a buy rating to a neutral rating and set a $78.00 target price for the company. in a research report on Monday, April 8th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of Buy and a consensus target price of $79.01.

Shares of NYSE AEP opened at $83.01 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.48 and a quick ratio of 0.37. The firm has a market capitalization of $40.94 billion, a PE ratio of 21.02, a PEG ratio of 3.56 and a beta of 0.17. American Electric Power has a 1 year low of $62.71 and a 1 year high of $86.10.

American Electric Power (NYSE:AEP) last announced its quarterly earnings data on Thursday, January 24th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.01. The firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.97 billion. American Electric Power had a net margin of 11.91% and a return on equity of 10.32%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.85 earnings per share. As a group, research analysts predict that American Electric Power will post 4.12 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of AEP. Mastrapasqua Asset Management Inc. lifted its position in American Electric Power by 1.5% during the fourth quarter. Mastrapasqua Asset Management Inc. now owns 9,325 shares of the utilities provider’s stock valued at $697,000 after purchasing an additional 135 shares during the last quarter. First Citizens Bank & Trust Co. lifted its position in American Electric Power by 1.5% during the first quarter. First Citizens Bank & Trust Co. now owns 9,484 shares of the utilities provider’s stock valued at $794,000 after purchasing an additional 140 shares during the last quarter. Cigna Investments Inc. New lifted its position in American Electric Power by 1.0% during the fourth quarter. Cigna Investments Inc. New now owns 14,537 shares of the utilities provider’s stock valued at $1,086,000 after purchasing an additional 141 shares during the last quarter. First American Bank lifted its position in American Electric Power by 0.4% during the first quarter. First American Bank now owns 40,754 shares of the utilities provider’s stock valued at $3,413,000 after purchasing an additional 149 shares during the last quarter. Finally, Clifford Swan Investment Counsel LLC lifted its position in American Electric Power by 3.9% during the fourth quarter. Clifford Swan Investment Counsel LLC now owns 4,202 shares of the utilities provider’s stock valued at $314,000 after purchasing an additional 156 shares during the last quarter. Hedge funds and other institutional investors own 73.51% 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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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Analyst Recommendations for American Electric Power (NYSE:AEP)

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