Morgan Stanley Has Lowered Expectations for American Electric Power (NASDAQ:AEP) Stock Price

American Electric Power (NASDAQ:AEP) had its price objective cut by investment analysts at Morgan Stanley from $114.00 to $113.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 9.84% from the stock’s previous close.

Several other research firms have also issued reports on AEP. Wells Fargo & Company increased their price objective on American Electric Power from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 7th. Citigroup increased their target price on shares of American Electric Power from $102.00 to $109.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Guggenheim lifted their price target on shares of American Electric Power from $109.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. BMO Capital Markets upped their price objective on shares of American Electric Power from $111.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, April 21st. Finally, Barclays raised their price objective on shares of American Electric Power from $95.00 to $106.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $105.69.

American Electric Power Stock Up 1.1%

AEP opened at $102.88 on Thursday. The company has a market capitalization of $54.96 billion, a P/E ratio of 18.37, a P/E/G ratio of 2.97 and a beta of 0.45. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31. The firm’s fifty day moving average price is $105.09 and its two-hundred day moving average price is $100.48. American Electric Power has a fifty-two week low of $85.93 and a fifty-two week high of $110.48.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.14. The company had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.33 billion. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the firm earned $1.27 EPS. On average, analysts anticipate that American Electric Power will post 5.87 EPS for the current year.

Insider Buying and Selling at American Electric Power

In other news, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the completion of the sale, the executive vice president now owns 9,658 shares in the company, valued at $991,683.44. The trade was a 51.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On American Electric Power

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Clarius Group LLC raised its holdings in American Electric Power by 2.5% in the 1st quarter. Clarius Group LLC now owns 3,966 shares of the company’s stock valued at $433,000 after acquiring an additional 95 shares in the last quarter. McIlrath & Eck LLC increased its position in shares of American Electric Power by 3.2% in the first quarter. McIlrath & Eck LLC now owns 3,147 shares of the company’s stock worth $344,000 after purchasing an additional 99 shares during the period. Safeguard Investment Advisory Group LLC increased its position in shares of American Electric Power by 4.3% in the fourth quarter. Safeguard Investment Advisory Group LLC now owns 2,414 shares of the company’s stock worth $223,000 after purchasing an additional 100 shares during the period. Marcum Wealth LLC raised its stake in American Electric Power by 3.0% in the first quarter. Marcum Wealth LLC now owns 3,468 shares of the company’s stock valued at $379,000 after purchasing an additional 101 shares in the last quarter. Finally, SouthState Corp lifted its position in American Electric Power by 1.6% during the fourth quarter. SouthState Corp now owns 6,611 shares of the company’s stock worth $610,000 after purchasing an additional 102 shares during the period. 75.24% of the stock is owned by institutional investors.

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.