American Electric Power (NASDAQ:AEP) Stock Price Expected to Rise, Scotiabank Analyst Says

Key Points

• Scotiabank has raised its price target for American Electric Power (AEP) from $102.00 to $114.00, indicating a potential upside of 0.99% from the company's previous close.
• Analysts report varying ratings on AEP, with one sell rating, eight hold ratings, and five buy ratings, leading to an average target price of $110.93.
• American Electric Power reported a quarterly earnings per share (EPS) of $1.43, beating estimates of $1.27, along with an 11.1% year-over-year revenue increase.

American Electric Power (NASDAQ:AEP - Get Free Report) had its price target raised by equities researchers at Scotiabank from $102.00 to $114.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "sector perform" rating on the stock. Scotiabank's target price points to a potential upside of 0.99% from the company's previous close.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley dropped their price target on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. Guggenheim raised their price objective on American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. UBS Group upped their target price on American Electric Power from $100.00 to $110.00 and gave the company a "sell" rating in a research report on Thursday. Wells Fargo & Company increased their target price on American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Finally, Mizuho set a $116.00 price target on American Electric Power and gave the stock a "neutral" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $110.93.

American Electric Power Stock Performance

American Electric Power stock traded down $0.37 during mid-day trading on Thursday, hitting $112.88. 2,464,050 shares of the company's stock traded hands, compared to its average volume of 3,577,357. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.42 and a quick ratio of 0.31. The firm has a 50 day simple moving average of $104.17 and a two-hundred day simple moving average of $103.69. American Electric Power has a fifty-two week low of $89.91 and a fifty-two week high of $114.23. The stock has a market cap of $60.30 billion, a price-to-earnings ratio of 21.77, a P/E/G ratio of 2.90 and a beta of 0.42.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.16. The business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.85 billion. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. American Electric Power's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 EPS. On average, research analysts expect that American Electric Power will post 5.87 EPS for the current fiscal year.

Insider Buying and Selling at American Electric Power

In related news, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $102.68, for a total value 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. This trade represents a 51.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David Matthew Feinberg sold 8,058 shares of American Electric Power stock in a transaction 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 completion of the sale, the executive vice president directly owned 10,274 shares of the company's stock, valued at approximately $1,045,276.76. The trade was a 43.96% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,314 shares of company stock valued at $3,508,293. Insiders own 0.07% of the company's stock.

Hedge Funds Weigh In On American Electric Power

Hedge funds have recently added to or reduced their stakes in the stock. Kingswood Wealth Advisors LLC raised its holdings in shares of American Electric Power by 14.8% in the first 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 during the last quarter. Ritholtz Wealth Management purchased a new stake in American Electric Power in 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 worth approximately $205,000. GAMMA Investing LLC boosted its stake in shares of American Electric Power by 24.5% in the 1st quarter. GAMMA Investing LLC now owns 19,678 shares of the company's stock worth $2,150,000 after buying an additional 3,867 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of American Electric Power by 26.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 355,516 shares of the company's stock valued at $38,848,000 after acquiring an additional 73,488 shares in the last quarter. 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.

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