American Electric Power (NASDAQ:AEP) Raised to Buy at Bank of America

American Electric Power (NASDAQ:AEP) was upgraded by equities researchers at Bank of America from an “underperform” rating to a “buy” rating in a research report issued to clients and investors on Monday, MarketBeat reports. The firm presently has a $104.00 price objective on the stock, up from their previous price objective of $98.00. Bank of America‘s target price indicates a potential upside of 10.05% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. Evercore ISI dropped their price target on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. UBS Group lifted their price objective on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research report on Thursday, November 7th. Morgan Stanley reduced their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Scotiabank cut shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $98.00.

American Electric Power Stock Down 0.0 %

AEP stock opened at $94.50 on Monday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. American Electric Power has a 12 month low of $75.22 and a 12 month high of $105.18. The firm has a market capitalization of $50.29 billion, a PE ratio of 18.94, a P/E/G ratio of 2.70 and a beta of 0.56. The company’s 50 day simple moving average is $94.52 and its 200-day simple moving average is $96.78.

Institutional Trading of American Electric Power

A number of institutional investors have recently added to or reduced their stakes in AEP. Principal Financial Group Inc. boosted its position in shares of American Electric Power by 3.1% in the third quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock worth $65,667,000 after buying an additional 19,081 shares during the period. New England Asset Management Inc. purchased a new position in American Electric Power in the 3rd quarter worth approximately $3,404,000. ING Groep NV grew its position in American Electric Power by 244.3% in the third quarter. ING Groep NV now owns 294,515 shares of the company’s stock valued at $30,217,000 after acquiring an additional 208,974 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of American Electric Power during the third quarter valued at approximately $1,815,000. Finally, L & S Advisors Inc acquired a new position in shares of American Electric Power during the second quarter worth $2,398,000. 75.24% of the stock is 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.