BMO Capital Markets Cuts American Electric Power (NASDAQ:AEP) Price Target to $100.00

American Electric Power (NASDAQ:AEP) had its target price lowered by stock analysts at BMO Capital Markets from $108.00 to $100.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective suggests a potential upside of 7.43% from the company’s previous close.

A number of other research firms also recently commented on AEP. UBS Group lifted their price target on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. Wells Fargo & Company dropped their price objective on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Barclays decreased their target price on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 26th. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $105.00 to $102.00 in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $96.60.

American Electric Power Stock Up 0.9 %

Shares of NASDAQ:AEP opened at $93.08 on Friday. The firm has a market cap of $49.53 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 2.70 and a beta of 0.56. The company has a fifty day simple moving average of $94.79 and a 200 day simple moving average of $96.52. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. American Electric Power has a 12-month low of $75.22 and a 12-month high of $105.18.

Hedge Funds Weigh In On American Electric Power

Several large investors have recently made changes to their positions in AEP. Principal Financial Group Inc. increased its stake in American Electric Power by 3.1% in the third quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock valued at $65,667,000 after purchasing an additional 19,081 shares in the last quarter. New England Asset Management Inc. acquired a new position in American Electric Power in the 3rd quarter worth $3,404,000. ING Groep NV increased its holdings in American Electric Power by 244.3% during the 3rd quarter. ING Groep NV now owns 294,515 shares of the company’s stock worth $30,217,000 after purchasing an additional 208,974 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of American Electric Power in the 3rd quarter valued at about $1,815,000. Finally, L & S Advisors Inc bought a new stake in shares of American Electric Power in the second quarter valued at about $2,398,000. Institutional investors and hedge funds 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.