American Electric Power Receives a Buy from SunTrust Robinson

By Jason Carr

SunTrust Robinson analyst Ali Agha reiterated a Buy rating on American Electric Power (NYSE: AEP) yesterday and set a price target of $78. The company’s shares closed yesterday at $71.42.

According to TipRanks.com, Agha is a 3-star analyst with an average return of 7.2% and a 56.1% success rate. Agha covers the Utilities sector, focusing on stocks such as Pinnacle West Capital Corp, Great Plains Energy Inc, and Integrys Energy Group.

American Electric Power has an analyst consensus of Moderate Buy, with a price target consensus of $73.75.

Based on American Electric Power’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $4.09 billion and quarterly net profit of $545 million. In comparison, last year the company earned revenue of $3.71 billion and had a net profit of $373 million.

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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.