Wells Fargo & Company Issues Pessimistic Forecast for American Electric Power (NASDAQ:AEP) Stock Price

American Electric Power (NASDAQ:AEP) had its price objective decreased by stock analysts at Wells Fargo & Company from $104.00 to $102.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 5.81% from the company’s current price.

A number of other brokerages also recently commented on AEP. Morgan Stanley increased their price target on American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Scotiabank lifted their target price on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Barclays increased their price target on shares of American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Evercore ISI lowered their price objective on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research report on Thursday. Finally, Jefferies Financial Group began coverage on shares of American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power presently has a consensus rating of “Hold” and a consensus price target of $98.27.

American Electric Power Trading Up 1.0 %

Shares of AEP stock opened at $96.40 on Thursday. American Electric Power has a 52-week low of $74.97 and a 52-week high of $105.18. The company has a 50-day simple moving average of $100.59 and a two-hundred day simple moving average of $94.79. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. The company has a market capitalization of $51.30 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 2.81 and a beta of 0.55.

Hedge Funds Weigh In On American Electric Power

Several hedge funds have recently made changes to their positions in AEP. Quantbot Technologies LP purchased a new position in American Electric Power during the 1st quarter valued at about $1,731,000. Mizuho Markets Americas LLC boosted its position in shares of American Electric Power by 646.9% in the first quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock valued at $22,510,000 after acquiring an additional 226,435 shares during the period. ProShare Advisors LLC grew its stake in American Electric Power by 21.7% during the first quarter. ProShare Advisors LLC now owns 582,692 shares of the company’s stock valued at $50,170,000 after acquiring an additional 103,771 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in American Electric Power by 60.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 49,762 shares of the company’s stock worth $4,285,000 after acquiring an additional 18,726 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in American Electric Power by 17.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 664,304 shares of the company’s stock worth $57,197,000 after purchasing an additional 96,645 shares in the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

About American Electric Power

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.