In a report issued on June 18, Eric Beaumont from Barclays maintained a Buy rating on American Electric Power (AEP), with a price target of $96. The company’s shares closed yesterday at $90.86, close to its 52-week high of $91.19.
According to TipRanks.com, Beaumont is a 2-star analyst with an average return of -0.3% and a 50.0% success rate. Beaumont covers the Utilities sector, focusing on stocks such as Pinnacle West Capital Corp, Consolidated Edison, Inc., and Edison International.
Currently, the analyst consensus on American Electric Power is a Moderate Buy with an average price target of $89.83, which is a -1.1% downside from current levels. In a report issued on June 10, SunTrust Robinson also maintained a Buy rating on the stock with a $95 price target.
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Based on American Electric Power’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $573 million. In comparison, last year the company had a net profit of $454 million.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AEP in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
American Electric Power Co., Inc. is a public utility holding company that engages in the business of generation, transmission and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission & Distribution Utilities, AEP Transmission Holdco and Generation & Marketing.
