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

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Zacks Investment Research upgraded shares of American Electric Power (NYSE:AEP) from a sell rating to a hold rating in a research report released on Thursday morning, Zacks.com reports. The firm currently has $96.00 price objective 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 brokerages have also recently issued reports on AEP. KeyCorp began coverage on shares of Southern in a research note on Tuesday, June 4th. They set a sector weight rating for the company. Wolfe Research set a $205.00 price target on shares of Raytheon and gave the company a buy rating in a research note on Friday, April 26th. Goldman Sachs Group reissued a neutral rating and issued a $393.00 price target on shares of Boeing in a research note on Monday, April 8th. UBS Group increased their price target on shares of Zayo Group from $30.00 to $35.00 and gave the company a neutral rating in a research note on Thursday, May 9th. Finally, Morgan Stanley set a $18.00 price target on shares of PG&E and gave the company a hold rating in a research note on Friday, June 14th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $83.93.

AEP stock opened at $90.25 on Thursday. The stock has a market capitalization of $44.52 billion, a PE ratio of 22.85, a P/E/G ratio of 3.86 and a beta of 0.16. The stock’s 50-day moving average is $89.12. The company has a quick ratio of 0.37, a current ratio of 0.49 and a debt-to-equity ratio of 1.19. American Electric Power has a 52 week low of $68.13 and a 52 week high of $91.99.

American Electric Power (NYSE:AEP) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.09. American Electric Power had a net margin of 12.64% and a return on equity of 10.81%. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.23 billion. During the same quarter in the prior year, the company earned $0.96 EPS. American Electric Power’s revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts expect that American Electric Power will post 4.15 earnings per share for the current year.

In other American Electric Power news, EVP Paul Chodak III sold 1,303 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $86.52, for a total transaction of $112,735.56. Following the sale, the executive vice president now directly owns 8,152 shares in the company, valued at approximately $705,311.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Lisa M. Barton sold 1,752 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $89.41, for a total transaction of $156,646.32. Following the sale, the insider now owns 34,460 shares in the company, valued at $3,081,068.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,637 shares of company stock worth $2,112,145. 0.16% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in AEP. Legacy Advisors LLC purchased a new position in shares of American Electric Power in the 1st quarter valued at $25,000. Sageworth Trust Co grew its position in shares of American Electric Power by 1,026.9% in the 1st quarter. Sageworth Trust Co now owns 293 shares of the utilities provider’s stock valued at $25,000 after buying an additional 267 shares during the last quarter. Truvestments Capital LLC purchased a new position in shares of American Electric Power in the 1st quarter valued at $28,000. Capital Financial Planning LLC purchased a new position in shares of American Electric Power in the 4th quarter valued at $26,000. Finally, Weaver Consulting Group purchased a new position in shares of American Electric Power in the 1st quarter valued at $32,000. Institutional investors own 73.58% of the company’s stock.

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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