American Electric Power (NASDAQ:AEP) Price Target Raised to $124.50

American Electric Power (NASDAQ:AEP) had its price target lifted by LADENBURG THALM/SH SH from $108.50 to $124.50 in a research note issued to investors on Thursday,MarketScreener reports. The brokerage currently has a neutral rating on the stock.

A number of other analysts have also commented on the company. Cowen started coverage on American Electric Power in a report on Wednesday, October 15th. They set a “buy” rating for the company. Barclays lifted their target price on American Electric Power from $111.00 to $117.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 14th. TD Cowen raised American Electric Power to a “strong-buy” rating in a research report on Thursday, October 30th. UBS Group raised their price objective on American Electric Power from $110.00 to $116.00 and gave the company a “sell” rating in a research note on Friday, October 10th. Finally, Mizuho lifted their price objective on shares of American Electric Power from $113.00 to $123.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, American Electric Power currently has a consensus rating of “Moderate Buy” and an average price target of $125.85.

American Electric Power Stock Performance

NASDAQ AEP opened at $120.84 on Thursday. The company has a market cap of $64.54 billion, a P/E ratio of 17.62, a PEG ratio of 3.22 and a beta of 0.52. The company has a fifty day simple moving average of $116.36 and a 200 day simple moving average of $110.00. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33. American Electric Power has a 12-month low of $89.91 and a 12-month high of $124.80.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data 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). The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.65 billion. American Electric Power had a net margin of 17.23% and a return on equity of 11.29%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the business posted $1.85 earnings per share. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. Sell-side analysts predict that American Electric Power will post 5.87 earnings per share for the current fiscal year.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be given a dividend of $0.95 per share. The ex-dividend date is Monday, November 10th. This is an increase from American Electric Power’s previous quarterly dividend of $0.93. This represents a $3.80 annualized dividend and a yield of 3.1%. American Electric Power’s dividend payout ratio (DPR) is currently 55.39%.

Insider Transactions at American Electric Power

In other American Electric Power news, Director Benjamin G. S. Fowke III sold 5,000 shares of American Electric Power stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $121.58, for a total value of $607,900.00. Following the sale, the director owned 30,898 shares of the company’s stock, valued at approximately $3,756,578.84. The trade was a 13.93% decrease in their ownership of the stock. The sale 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 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 completion of the transaction, the executive vice president owned 5,676 shares in the company, valued at approximately $635,712. The trade was a 15.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 16,006 shares of company stock valued at $1,851,422 in the last 90 days. 0.07% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On American Electric Power

Several institutional investors have recently bought and sold shares of AEP. PFG Investments LLC lifted its holdings in American Electric Power by 0.3% during the third quarter. PFG Investments LLC now owns 24,823 shares of the company’s stock valued at $2,793,000 after purchasing an additional 83 shares during the last quarter. Strategic Advisors LLC raised its position in shares of American Electric Power by 0.3% in the third quarter. Strategic Advisors LLC now owns 26,605 shares of the company’s stock valued at $2,993,000 after purchasing an additional 87 shares during the period. SBI Securities Co. Ltd. raised its position in shares of American Electric Power by 16.2% in the third quarter. SBI Securities Co. Ltd. now owns 632 shares of the company’s stock valued at $71,000 after purchasing an additional 88 shares during the period. Cary Street Partners Investment Advisory LLC lifted its stake in shares of American Electric Power by 12.7% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 791 shares of the company’s stock valued at $82,000 after buying an additional 89 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA boosted its holdings in American Electric Power by 6.8% in the 3rd quarter. LFA Lugano Financial Advisors SA now owns 1,412 shares of the company’s stock worth $159,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

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.