American Electric Power (NYSE:AEP) Rating Reiterated by Bank of America
Bank of America restated their buy rating on shares of American Electric Power (NYSE:AEP) in a research note issued to investors on Tuesday morning, Briefing.com Automated Import reports. The firm currently has a $98.00 price objective on the utilities provider’s stock, up from their prior price objective of $93.00.
Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. set a €13.00 ($15.12) price objective on shares of ING Groep and gave the company a neutral rating in a research report on Tuesday, March 12th. Zacks Investment Research cut shares of Garrett Motion from a hold rating to a sell rating in a research report on Wednesday, March 20th. Goldman Sachs Group reiterated a neutral rating and issued a $393.00 target price on shares of Boeing in a research report on Monday, April 8th. Wells Fargo & Co set a $95.00 target price on shares of Westinghouse Air Brake Technologies and gave the stock a buy rating in a research report on Friday, April 26th. Finally, Wolfe Research set a $205.00 target price on shares of Raytheon and gave the stock a buy rating in a research report on Friday, April 26th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $83.93.
American Electric Power stock opened at $90.25 on Tuesday. The firm’s fifty day moving average is $89.12. 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 stock has a market cap of $44.52 billion, a PE ratio of 22.85, a P/E/G ratio of 3.86 and a beta of 0.16. American Electric Power has a fifty-two week low of $68.13 and a fifty-two week high of $91.99.
In other American Electric Power news, insider Lisa M. Barton sold 1,752 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $89.41, for a total value of $156,646.32. Following the sale, the insider now owns 34,460 shares of the company’s stock, valued at approximately $3,081,068.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Brian X. Tierney sold 4,392 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $86.02, for a total transaction of $377,799.84. Following the completion of 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. In the last three months, insiders sold 24,637 shares of company stock worth $2,112,145. Insiders own 0.16% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Legacy Advisors LLC bought a new stake in shares of American Electric Power during the 1st quarter valued at about $25,000. Sageworth Trust Co boosted its stake in shares of American Electric Power by 1,026.9% during the 1st quarter. Sageworth Trust Co now owns 293 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 267 shares in the last quarter. Capital Financial Planning LLC bought a new stake in shares of American Electric Power during the 4th quarter valued at about $26,000. Claybrook Capital LLC bought a new stake in shares of American Electric Power during the 4th quarter valued at about $27,000. Finally, Truvestments Capital LLC bought a new stake in shares of American Electric Power during the 1st quarter valued at about $28,000. 73.58% of the stock is currently owned by institutional investors and hedge funds.
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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.
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