American Electric Power (NASDAQ:AEP) Price Target Lowered to $116.00 at Jefferies Financial Group

Key Points

• Jefferies Financial Group has lowered the price target for American Electric Power from $120.00 to $116.00, maintaining a "hold" rating on the stock.
• Several other firms have also set a price target of $116.00 for AEP, with analysts indicating a consensus rating of "Hold" and an average target price of $111.93.
• American Electric Power reported a strong quarterly earnings result, surpassing analysts' estimates with $1.43 earnings per share and an 11.1% year-over-year revenue growth, totaling $5.09 billion.

American Electric Power (NASDAQ:AEP - Get Free Report) had its price target cut by equities research analysts at Jefferies Financial Group from $120.00 to $116.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Jefferies Financial Group's target price indicates a potential upside of 6.65% from the company's previous close.

Several other research firms have also recently weighed in on AEP. Mizuho set a $116.00 target price on American Electric Power and gave the company a "neutral" rating in a research note on Thursday, July 31st. Scotiabank lifted their price target on American Electric Power from $102.00 to $114.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Morgan Stanley reissued an "overweight" rating on shares of American Electric Power in a research report on Thursday, August 21st. Barclays lifted their target price on shares of American Electric Power from $105.00 to $111.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Finally, UBS Group raised their price target on American Electric Power from $100.00 to $110.00 and gave the company a "sell" rating in a research report on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, American Electric Power presently has a consensus rating of "Hold" and an average target price of $111.93.

American Electric Power Trading Up 0.4%

AEP traded up $0.42 during trading on Thursday, reaching $108.76. The company had a trading volume of 552,952 shares, compared to its average volume of 3,520,403. The firm's 50-day simple moving average is $109.80 and its 200 day simple moving average is $106.24. The company has a market cap of $58.17 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 2.87 and a beta of 0.46. American Electric Power has a 12-month low of $89.91 and a 12-month high of $115.36. 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 - Get Free Report) last issued 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. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%.The firm had revenue of $5.09 billion for the quarter, compared to analysts' expectations of $4.85 billion. During the same quarter last year, the business posted $1.25 EPS. American Electric Power's revenue was up 11.1% on a year-over-year basis. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. Equities research analysts anticipate that American Electric Power will post 5.87 earnings per share for the current year.

Insider Transactions at American Electric Power

In related news, EVP David Matthew Feinberg sold 8,058 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total value of $819,820.92. Following the transaction, the executive vice president owned 10,274 shares in the company, valued at $1,045,276.76. This trade represents a 43.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On American Electric Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kingswood Wealth Advisors LLC lifted its holdings in shares of American Electric Power by 14.8% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,331 shares of the company's stock valued at $364,000 after purchasing an additional 430 shares in the last quarter. Ritholtz Wealth Management bought a new position in shares of American Electric Power during the 1st quarter valued at about $262,000. Robertson Stephens Wealth Management LLC bought a new position in shares of American Electric Power during the 1st quarter valued at about $205,000. GAMMA Investing LLC lifted its holdings in shares of American Electric Power by 24.5% during the 1st quarter. GAMMA Investing LLC now owns 19,678 shares of the company's stock valued at $2,150,000 after purchasing an additional 3,867 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in American Electric Power by 26.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 355,516 shares of the company's stock valued at $38,848,000 after buying an additional 73,488 shares during the last quarter. Institutional investors own 75.24% of the company's stock.

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.

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