Goldman Sachs Upgrades American Electric Power Company Inc to Buy with Price Target $73.00

Brokerage firm Goldman Sachs Upgrades its rating on American Electric Power Company Inc(NYSE:AEP). In a research note issued to the investors, the brokerage major Raises the price-target to $73.00 per share. The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by Goldman Sachs was issued on Jul 26, 2016.

In a different note, On Jul 20, 2016, Citigroup said it Maintains its rating on American Electric Power Company Inc. In the research note, the firm Raises the price-target to $61.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jun 17, 2016, Jefferies said it Maintains its rating on American Electric Power Company Inc. In the research note, the firm Raises the price-target to $70.00 per share. The shares have been rated ‘Buy’ by the firm. On Apr 28, 2016, Barclays said it Maintains its rating on American Electric Power Company Inc. In the research note, the firm Lowers the price-target to $71.00 per share. The shares have been rated ‘Overweight’ by the firm.

American Electric Power Company Inc (AEP) made into the market gainers list on Fridays trading session with the shares advancing 0.55% or 0.38 points. Due to strong positive momentum, the stock ended at $69.3, which is also near the day’s high of $69.56. The stock began the session at $68.84 and the volume stood at 24,90,159 shares. The 52-week high of the shares is $71.32 and the 52 week low is $52.29. The company has a current market capitalization of $34,048 M and it has 49,13,13,380 shares in outstanding.

American Electric Power Company Inc(AEP) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $4.00B. Analysts had an estimated revenue of $4.49B. Earnings per share were $1.02. Analysts had estimated an EPS of $1.13.

Several Insider Transactions has been reported to the SEC. On Jun 10, 2016, Mark C Mccullough (Executive Vice President) purchased 4,489 shares at $63.43 per share price.Also, On May 6, 2016, Robert P Powers (Executive Vice President, COO) sold 1,046 shares at $65.39 per share price.On Feb 3, 2016, Lionel L Iii Nowell (director) sold 8,209 shares at $62.00 per share price, according to the Form-4 filing with the securities and exchange commission.

American Electric Power Company Inc. is a utility holding company. It operates in five segments. The vertically integrated utilities segment generates transmits and distributes electricity through AEP Generating Company Appalachian Power Company Indiana Michigan Power Company Kingsport Power Company Kentucky Power Company Public Service Company of Oklahoma Southwestern Electric Power Company and Wheeling Power Company. The Transmission and Distribution Utilities segment transmits and distributes electricity through Ohio Power Company AEP Texas Central Company and AEP Texas North Company. The Generation & Marketing segment’s subsidiaries consist of nonutility generating assets a wholesale energy trading and marketing business and a retail supply and energy management business. AEP Transmission Holdco is a holding company for AEP’s transmission joint ventures and AEP Transmission Company LLC. The AEP River Operations segment transports liquid coal and dry bulk commodities.

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