American Electric Power (NYSE:AEP) Downgraded to “Neutral” at Mizuho

American Electric Power (NYSE:AEP) was downgraded by Mizuho from a “buy” rating to a “neutral” rating in a report released on Thursday, January 3rd, The Fly reports. They currently have a $72.00 target price on the utilities provider’s stock. Mizuho’s target price indicates a potential downside of 3.28% from the stock’s previous close. The analysts noted that the move was a valuation call.

A number of other equities research analysts have also recently issued reports on the stock. Wells Fargo & Co upped their price target on shares of American Electric Power from $77.00 to $81.00 and gave the company an “outperform” rating in a report on Monday, September 17th. Morgan Stanley restated an “overweight” rating on shares of American Electric Power in a report on Wednesday, September 12th. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a research note on Monday, September 10th. They noted that the move was a valuation call. Bank of America increased their target price on shares of American Electric Power from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, October 26th. Finally, Citigroup increased their target price on shares of American Electric Power from $71.00 to $72.00 and gave the company a “neutral” rating in a research note on Monday, September 10th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $76.41.

AEP opened at $74.44 on Thursday. American Electric Power has a 12-month low of $62.71 and a 12-month high of $81.05. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $36.18 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 3.11 and a beta of 0.10.

American Electric Power (NYSE:AEP) last posted its earnings results on Thursday, October 25th. The utilities provider reported $1.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.05. The firm had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.26 billion. American Electric Power had a net margin of 12.14% and a return on equity of 10.78%. During the same period in the prior year, the business posted $1.10 earnings per share. Sell-side analysts anticipate that American Electric Power will post 3.95 EPS for the current fiscal year.

In other American Electric Power news, insider Paul Chodak III sold 847 shares of American Electric Power stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $76.47, for a total transaction of $64,770.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lisa M. Barton sold 881 shares of American Electric Power stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $77.55, for a total transaction of $68,321.55. Following the sale, the insider now directly owns 581 shares of the company’s stock, valued at approximately $45,056.55. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of American Electric Power by 1.6% during the third quarter. Vanguard Group Inc. now owns 37,558,524 shares of the utilities provider’s stock worth $2,662,148,000 after purchasing an additional 584,608 shares in the last quarter. Vanguard Group Inc boosted its position in shares of American Electric Power by 1.6% during the third quarter. Vanguard Group Inc now owns 37,558,524 shares of the utilities provider’s stock worth $2,662,148,000 after purchasing an additional 584,608 shares in the last quarter. BlackRock Inc. boosted its position in shares of American Electric Power by 0.5% during the third quarter. BlackRock Inc. now owns 35,301,165 shares of the utilities provider’s stock worth $2,502,146,000 after purchasing an additional 164,878 shares in the last quarter. Capital Research Global Investors boosted its position in shares of American Electric Power by 9.1% during the third quarter. Capital Research Global Investors now owns 18,496,658 shares of the utilities provider’s stock worth $1,311,043,000 after purchasing an additional 1,548,554 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of American Electric Power by 1.9% during the third quarter. Alliancebernstein L.P. now owns 6,469,015 shares of the utilities provider’s stock worth $458,524,000 after purchasing an additional 122,077 shares in the last quarter. 72.66% of the stock is currently owned by 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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

See Also: No Load Funds

The Fly

Analyst Recommendations for American Electric Power (NYSE:AEP)

Receive News & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply