Evercore ISI Increases American Electric Power (NASDAQ:AEP) Price Target to $137.00

American Electric Power (NASDAQ:AEP) had its price objective increased by equities researchers at Evercore ISI from $133.00 to $137.00 in a report issued on Wednesday, Marketbeat.com reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s target price would indicate a potential upside of 12.40% from the company’s previous close.

Several other research analysts have also weighed in on AEP. The Goldman Sachs Group increased their price objective on shares of American Electric Power from $125.00 to $128.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Jefferies Financial Group increased their price target on shares of American Electric Power from $116.00 to $128.00 and gave the stock a “hold” rating in a research note on Thursday, October 16th. JPMorgan Chase & Co. increased their target price on American Electric Power from $115.00 to $121.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Scotiabank increased their target price on American Electric Power from $102.00 to $114.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 31st. Finally, Cowen assumed coverage on American Electric Power in a report on Wednesday, October 15th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $122.44.

American Electric Power Stock Performance

Shares of AEP opened at $121.89 on Wednesday. American Electric Power has a 1 year low of $89.91 and a 1 year high of $122.85. The company has a market capitalization of $65.19 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 3.22 and a beta of 0.48. The company’s 50 day simple moving average is $112.82 and its 200 day simple moving average is $108.41. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). American Electric Power had a return on equity of 11.29% and a net margin of 17.23%.The business had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the prior year, the company earned $1.85 EPS. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. On average, sell-side analysts predict that American Electric Power will post 5.87 EPS for the current year.

Insider Buying and Selling

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of American Electric Power stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $117.52, for a total transaction of $587,600.00. Following the sale, the director 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kelly J. Ferneau sold 1,006 shares of American Electric Power stock in a transaction on Thursday, October 2nd. The stock was 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 in the company, valued at $635,712. This trade represents a 15.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 11,006 shares of company stock worth $1,243,522 in the last quarter. Insiders own 0.07% of the company’s stock.

Institutional Investors Weigh In On American Electric Power

Several hedge funds and other institutional investors have recently bought and sold shares of AEP. Cary Street Partners Investment Advisory LLC increased its stake in shares of American Electric Power by 12.7% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 791 shares of the company’s stock worth $82,000 after buying an additional 89 shares during the last quarter. Gilbert & Cook Inc. increased its position in shares of American Electric Power by 2.3% in the 2nd quarter. Gilbert & Cook Inc. now owns 4,036 shares of the company’s stock worth $419,000 after purchasing an additional 91 shares during the last quarter. Eagle Strategies LLC increased its position in shares of American Electric Power by 1.7% in the 2nd quarter. Eagle Strategies LLC now owns 5,515 shares of the company’s stock worth $572,000 after purchasing an additional 94 shares during the last quarter. Cascade Investment Group Inc. increased its holdings in American Electric Power by 1.9% in the third quarter. Cascade Investment Group Inc. now owns 5,190 shares of the company’s stock valued at $584,000 after buying an additional 98 shares during the last quarter. Finally, McIlrath & Eck LLC increased its holdings in American Electric Power by 3.2% in the first quarter. McIlrath & Eck LLC now owns 3,147 shares of the company’s stock valued at $344,000 after buying an additional 99 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other 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.