American Electric Power (NASDAQ:AEP) Stock Rating Lowered by Bank of America

American Electric Power (NASDAQ:AEP) was downgraded by equities researchers at Bank of America from a “neutral” rating to an “underperform” rating in a research report issued on Tuesday, Marketbeat.com reports. They currently have a $97.00 price objective on the stock, up from their previous price objective of $96.00. Bank of America‘s price objective points to a potential downside of 2.58% from the company’s current price.

A number of other brokerages have also weighed in on AEP. Barclays upped their price target on shares of American Electric Power from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Morgan Stanley decreased their price objective on shares of American Electric Power from $98.00 to $94.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. Guggenheim increased their price target on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Scotiabank raised their price objective on shares of American Electric Power from $90.00 to $99.00 and gave the company a “sector outperform” rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets raised their price objective on American Electric Power from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $93.38.

American Electric Power Price Performance

NASDAQ:AEP opened at $99.57 on Tuesday. The company’s 50-day moving average is $91.10 and its two-hundred day moving average is $86.46. The company has a current ratio of 0.65, a quick ratio of 0.37 and a debt-to-equity ratio of 1.53. American Electric Power has a 12-month low of $69.38 and a 12-month high of $104.41. The firm has a market cap of $52.49 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 2.92 and a beta of 0.53.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.02. The firm had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.13 EPS. Research analysts expect that American Electric Power will post 5.59 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Antonio P. Smyth sold 4,898 shares of American Electric Power stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total value of $440,820.00. Following the completion of the sale, the executive vice president now owns 6,446 shares in the company, valued at approximately $580,140. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other American Electric Power news, EVP Antonio P. Smyth sold 4,898 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total value of $440,820.00. Following the completion of the sale, the executive vice president now directly owns 6,446 shares of the company’s stock, valued at approximately $580,140. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Therace Risch 5,274 shares of American Electric Power stock in a transaction dated Tuesday, July 30th. The disclosure for this trade can be found here. Corporate insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On American Electric Power

Several hedge funds have recently made changes to their positions in the stock. HHM Wealth Advisors LLC increased its stake in American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after acquiring an additional 103 shares during the last quarter. Frazier Financial Advisors LLC bought a new position in American Electric Power during the 4th quarter valued at approximately $26,000. Denali Advisors LLC bought a new stake in American Electric Power in the first quarter valued at $26,000. Rise Advisors LLC bought a new position in American Electric Power in the first quarter worth about $27,000. Finally, YHB Investment Advisors Inc. purchased a new position in shares of American Electric Power in the 1st quarter valued at approximately $29,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

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.