Wells Fargo & Company Has Lowered Expectations for American Electric Power (NASDAQ:AEP) Stock Price

American Electric Power (NASDAQ:AEP) had its price target cut by equities research analysts at Wells Fargo & Company from $104.00 to $102.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 6.46% from the stock’s current price.

AEP has been the subject of several other research reports. Scotiabank lifted their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Guggenheim lifted their price target on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Evercore ISI reduced their price target on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research report on Thursday. BMO Capital Markets lifted their price objective on American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Finally, Bank of America increased their target price on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $98.13.

American Electric Power Stock Performance

Shares of American Electric Power stock traded down $0.44 on Thursday, hitting $95.81. The stock had a trading volume of 265,657 shares, compared to its average volume of 3,141,955. The stock has a market cap of $50.98 billion, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 2.78 and a beta of 0.55. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. American Electric Power has a twelve month low of $74.97 and a twelve month high of $105.18. The business’s 50 day moving average is $100.71 and its two-hundred day moving average is $94.77.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.07. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The firm had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.39 billion. Analysts forecast that American Electric Power will post 5.6 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in American Electric Power by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock valued at $4,273,181,000 after buying an additional 405,114 shares during the last quarter. Lazard Asset Management LLC increased its position in American Electric Power by 9.9% in the 1st quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock valued at $739,303,000 after acquiring an additional 776,965 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of American Electric Power by 8.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock valued at $466,191,000 after acquiring an additional 341,846 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of American Electric Power by 1.1% during the second quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock valued at $296,433,000 after acquiring an additional 35,769 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of American Electric Power by 542.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock worth $193,541,000 after purchasing an additional 1,927,234 shares during the period. 75.24% 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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.