TD Cowen Begins Coverage on American Electric Power (NASDAQ:AEP)

Analysts at TD Cowen started coverage on shares of American Electric Power (NASDAQ:AEP) in a research note issued on Thursday, Marketbeat.com reports. The firm set a “buy” rating and a $133.00 price target on the stock. TD Cowen’s target price suggests a potential upside of 13.16% from the company’s previous close.

AEP has been the topic of a number of other reports. Jefferies Financial Group reduced their price target on shares of American Electric Power from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Thursday, September 11th. Evercore ISI started coverage on shares of American Electric Power in a research report on Monday, October 6th. They issued an “outperform” rating and a $133.00 price objective on the stock. Morgan Stanley cut their price objective on shares of American Electric Power from $117.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of American Electric Power in a research report on Wednesday, October 8th. Finally, Cowen started coverage on shares of American Electric Power in a research report on Wednesday. They issued a “buy” rating on the stock. Ten analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $119.26.

American Electric Power Stock Performance

Shares of NASDAQ AEP opened at $117.53 on Thursday. The company’s fifty day moving average is $111.86 and its 200-day moving average is $107.51. The stock has a market cap of $62.85 billion, a price-to-earnings ratio of 17.18, a P/E/G ratio of 3.10 and a beta of 0.48. American Electric Power has a twelve month low of $89.91 and a twelve month high of $120.46. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.16. The company had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $4.85 billion. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $1.25 earnings per share. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. Equities research analysts predict that American Electric Power will post 5.87 EPS for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. EQ Wealth Advisors LLC acquired a new position in shares of American Electric Power during the 1st quarter worth about $25,000. Harbor Capital Advisors Inc. acquired a new position in shares of American Electric Power during the 3rd quarter worth about $26,000. Advantage Trust Co grew its stake in American Electric Power by 57.1% in the 2nd quarter. Advantage Trust Co now owns 275 shares of the company’s stock valued at $29,000 after buying an additional 100 shares during the last quarter. Montag A & Associates Inc. grew its stake in American Electric Power by 166.0% in the 2nd quarter. Montag A & Associates Inc. now owns 282 shares of the company’s stock valued at $29,000 after buying an additional 176 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new position in American Electric Power in the 1st quarter valued at about $31,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

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.