JPMorgan Chase & Co. Raises American Electric Power (NASDAQ:AEP) Price Target to $121.00

American Electric Power (NASDAQ:AEP) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from $115.00 to $121.00 in a research note issued on Wednesday,MarketScreener reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 2.95% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Mizuho decreased their target price on American Electric Power from $116.00 to $113.00 and set a “neutral” rating for the company in a report on Tuesday, September 16th. Morgan Stanley decreased their target price on American Electric Power from $117.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. LADENBURG THALM/SH SH reduced their price target on American Electric Power from $112.00 to $108.50 and set a “neutral” rating on the stock in a research note on Wednesday, September 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of American Electric Power in a research note on Wednesday, October 8th. Finally, Scotiabank upped their price target on American Electric Power from $102.00 to $114.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 31st. Ten research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, American Electric Power currently has an average rating of “Hold” and a consensus target price of $119.26.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $117.53 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. The company has a market cap of $62.85 billion, a PE ratio of 17.18, a P/E/G ratio of 3.13 and a beta of 0.48. The business has a 50 day moving average of $111.76 and a 200 day moving average of $107.44. American Electric Power has a 52 week low of $89.91 and a 52 week high of $120.46.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.16. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.85 billion. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%.The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.25 earnings per share. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. As a group, equities research analysts forecast that American Electric Power will post 5.87 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction on Friday, October 10th. The stock was sold at an average price of $117.52, for a total value of $587,600.00. Following the sale, the director directly owned 35,898 shares of the company’s stock, valued at approximately $4,218,732.96. This represents a 12.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kelly J. Ferneau sold 1,006 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $112.00, for a total value of $112,672.00. Following the completion of the sale, the executive vice president directly owned 5,676 shares in the company, valued at approximately $635,712. This represents a 15.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,006 shares of company stock worth $1,243,522. Insiders own 0.07% of the company’s stock.

Institutional Investors Weigh In On American Electric Power

A number of institutional investors have recently modified their holdings of AEP. Cary Street Partners Investment Advisory LLC increased its stake in American Electric Power by 12.7% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 791 shares of the company’s stock worth $82,000 after acquiring an additional 89 shares during the last quarter. Gilbert & Cook Inc. increased its stake in American Electric Power by 2.3% during the second quarter. Gilbert & Cook Inc. now owns 4,036 shares of the company’s stock worth $419,000 after acquiring an additional 91 shares during the last quarter. Eagle Strategies LLC increased its stake in American Electric Power by 1.7% during the second quarter. Eagle Strategies LLC now owns 5,515 shares of the company’s stock worth $572,000 after acquiring an additional 94 shares during the last quarter. Clarius Group LLC increased its stake in American Electric Power by 2.5% during the first quarter. Clarius Group LLC now owns 3,966 shares of the company’s stock worth $433,000 after acquiring an additional 95 shares during the last quarter. Finally, McIlrath & Eck LLC increased its stake in American Electric Power by 3.2% during the first quarter. McIlrath & Eck LLC now owns 3,147 shares of the company’s stock worth $344,000 after acquiring an additional 99 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

About American Electric Power

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.