UBS Group Forecasts Strong Price Appreciation for American Electric Power (NASDAQ:AEP) Stock

Key Points

• UBS Group has raised its price target for American Electric Power from $100.00 to $110.00 while maintaining a "sell" rating, indicating a potential downside from the current stock price.
• Other firms like BMO Capital Markets and Citigroup have also adjusted their targets, with BMO increasing it to $115.00 and Citigroup to $109.00, reflecting varying outlooks on the stock's performance.
• American Electric Power's stock has seen a recent uptick of 3.2%, with the company reporting a 12-month revenue increase of 11.1% year-over-year and exceeding EPS expectations in its latest earnings report.

American Electric Power (NASDAQ:AEP - Get Free Report) had its price target lifted by equities researchers at UBS Group from $100.00 to $110.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "sell" rating on the stock. UBS Group's price target indicates a potential downside of 3.15% from the company's current price.

A number of other research analysts have also issued reports on AEP. Morgan Stanley dropped their price target on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. Citigroup boosted their price target on shares of American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Barclays boosted their price target on shares of American Electric Power from $95.00 to $106.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 22nd. Guggenheim boosted their price objective on shares of American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, BMO Capital Markets boosted their price objective on shares of American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $111.29.

American Electric Power Stock Performance

NASDAQ AEP traded up $0.44 during trading on Thursday, reaching $113.58. The company's stock had a trading volume of 4,925,406 shares, compared to its average volume of 3,067,441. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.31 and a current ratio of 0.55. The firm has a market cap of $60.74 billion, a price-to-earnings ratio of 16.61, a P/E/G ratio of 3.00 and a beta of 0.40. American Electric Power has a twelve month low of $89.91 and a twelve month high of $114.38. The business's fifty day moving average price is $104.61 and its 200-day moving average price is $103.95.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.16. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period in the previous year, the business posted $1.25 earnings per share. The business's revenue was up 11.1% compared to the same quarter last year. As a group, analysts anticipate that American Electric Power will post 5.87 EPS for the current fiscal year.

Insider Activity at American Electric Power

In related news, EVP David Matthew Feinberg sold 8,058 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total transaction of $819,820.92. Following the transaction, the executive vice president owned 10,274 shares of the company's stock, valued at approximately $1,045,276.76. This represents a 43.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Quinton S. Lies sold 10,141 shares of the company's 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 transaction, the executive vice president directly owned 9,658 shares in the company, valued at $991,683.44. The trade was a 51.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,314 shares of company stock worth $3,508,293 in the last three months. Insiders own 0.07% of the company's stock.

Hedge Funds Weigh In On American Electric Power

Institutional investors and hedge funds have recently bought and sold shares of the stock. EQ Wealth Advisors LLC acquired a new position in American Electric Power during the first quarter worth approximately $25,000. Bank of New Hampshire acquired a new position in American Electric Power during the first quarter worth approximately $28,000. Advantage Trust Co increased its position in American Electric Power by 57.1% during the second quarter. Advantage Trust Co now owns 275 shares of the company's stock worth $29,000 after purchasing an additional 100 shares during the last quarter. Bayforest Capital Ltd acquired a new position in American Electric Power during the first quarter worth approximately $31,000. Finally, Missouri Trust & Investment Co acquired a new stake in shares of American Electric Power in the second quarter worth $31,000. Institutional investors and hedge funds 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.