American Electric Power (NYSE:AEP) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of American Electric Power (NYSE:AEP) from a sell rating to a hold rating in a report issued on Thursday morning, Zacks.com reports. The firm currently has $96.00 target price on the utilities provider’s stock.

According to Zacks, “American Electric’s share price has outperformed the industry in the past year. Its strategy includes incremental investment in renewable generation projects throughout the United States. The company’s geographically-diversified operations allow it to avail transmission opportunities with better returns, compared with its single-state utility peers. It also makes incremental investments in renewable generation projects. Yet, American Electric is exposed to environmental risks, since its power plants produce large quantities of nitrogen, sulphur, mercury and carbon dioxide. It invested $8.5 billion between 2000 and 2016, and intends to invest $2.2-$2.8 billion in the 2017-2025 time period. Investments required to meet proposed environmental regulations for its Welsh Plant through 2025 can cost the company an additional $550 million.”

Several other equities research analysts also recently weighed in on AEP. Morgan Stanley set a $18.00 price target on PG&E and gave the stock a hold rating in a report on Friday, June 14th. Wells Fargo & Co set a $95.00 price target on Westinghouse Air Brake Technologies and gave the stock a buy rating in a report on Friday, April 26th. Wolfe Research set a $205.00 price target on Raytheon and gave the stock a buy rating in a report on Friday, April 26th. KeyCorp initiated coverage on Southern in a report on Tuesday, June 4th. They set a sector weight rating on the stock. Finally, Goldman Sachs Group restated a neutral rating and set a $393.00 price objective on shares of Boeing in a report on Monday, April 8th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $83.93.

Shares of NYSE AEP opened at $90.25 on Thursday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.37 and a current ratio of 0.49. The business has a 50 day simple moving average of $89.12. American Electric Power has a fifty-two week low of $68.13 and a fifty-two week high of $91.99. The stock has a market capitalization of $44.52 billion, a P/E ratio of 22.85, a price-to-earnings-growth ratio of 3.84 and a beta of 0.16.

American Electric Power (NYSE:AEP) last issued its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.09. American Electric Power had a return on equity of 10.81% and a net margin of 12.64%. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.23 billion. During the same period in the prior year, the business posted $0.96 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. Research analysts expect that American Electric Power will post 4.15 EPS for the current year.

In other American Electric Power news, CEO Nicholas K. Akins sold 11,152 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $84.94, for a total transaction of $947,250.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Brian X. Tierney sold 4,392 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $86.02, for a total value of $377,799.84. Following the sale, the vice president now directly owns 39,449 shares in the company, valued at approximately $3,393,402.98. The disclosure for this sale can be found here. Insiders have sold a total of 24,637 shares of company stock worth $2,112,145 over the last 90 days. 0.16% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. E&G Advisors LP boosted its position in shares of American Electric Power by 12.7% in the 2nd quarter. E&G Advisors LP now owns 4,300 shares of the utilities provider’s stock worth $378,000 after purchasing an additional 485 shares in the last quarter. Welch & Forbes LLC acquired a new stake in shares of American Electric Power in the 2nd quarter worth $293,000. 6 Meridian boosted its position in shares of American Electric Power by 1.8% in the 2nd quarter. 6 Meridian now owns 6,357 shares of the utilities provider’s stock worth $559,000 after purchasing an additional 111 shares in the last quarter. Smith Salley & Associates acquired a new stake in shares of American Electric Power in the 2nd quarter worth $223,000. Finally, Exane Derivatives acquired a new stake in shares of American Electric Power in the 2nd quarter worth $435,000. 73.58% of the stock is currently owned by institutional investors and hedge funds.

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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