Morgan Stanley Cuts American Electric Power (NASDAQ:AEP) Price Target to $115.00

Key Points

• Morgan Stanley reduced its price target for American Electric Power from $117.00 to $115.00, while maintaining an "overweight" rating on the stock, indicating a potential upside of 5.62% from its current price.
• The average consensus rating for American Electric Power is currently "Hold," with five analysts
• American Electric Power reported a quarterly earnings per share (EPS) of $1.43, exceeding estimates, with a revenue of $5.09 billion, reflecting an 11.1% increase compared to the previous year.

American Electric Power (NASDAQ:AEP - Get Free Report) had its price objective cut by equities researchers at Morgan Stanley from $117.00 to $115.00 in a research note issued on Thursday,MarketScreener reports. The firm presently has an "overweight" rating on the stock. Morgan Stanley's price target would indicate a potential upside of 5.62% from the company's current price.

Several other equities analysts also recently commented on AEP. Barclays upped their price objective on American Electric Power from $105.00 to $111.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Jefferies Financial Group lowered their price objective on American Electric Power from $120.00 to $116.00 and set a "hold" rating on the stock in a research note on Thursday, September 11th. UBS Group increased their target price on shares of American Electric Power from $100.00 to $110.00 and gave the stock a "sell" rating in a research report on Thursday, July 31st. Scotiabank boosted their price target on shares of American Electric Power from $102.00 to $114.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. Finally, Mizuho dropped their price target on shares of American Electric Power from $116.00 to $113.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 16th. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, American Electric Power presently has a consensus rating of "Hold" and an average price target of $111.63.

American Electric Power Stock Performance

Shares of AEP opened at $108.88 on Thursday. The firm has a market capitalization of $58.23 billion, a P/E ratio of 15.92, a P/E/G ratio of 2.86 and a beta of 0.46. American Electric Power has a 52 week low of $89.91 and a 52 week high of $115.36. The stock has a 50 day moving average price of $110.47 and a two-hundred day moving average price of $106.40. 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 announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.16. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.85 billion. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%.American Electric Power's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 earnings per share. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. Equities analysts forecast that American Electric Power will post 5.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

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, September 12th. The stock was sold at an average price of $108.65, for a total value of $543,250.00. Following the sale, the director directly owned 40,898 shares in the company, valued at approximately $4,443,567.70. This trade represents a 10.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.07% of the company's stock.

Hedge Funds Weigh In On American Electric Power

A number of institutional investors have recently bought and sold shares of AEP. EQ Wealth Advisors LLC purchased a new position in American Electric Power in the 1st quarter worth approximately $25,000. Bank of New Hampshire bought a new position in shares of American Electric Power during the first quarter valued at $28,000. Advantage Trust Co boosted its position in shares of American Electric Power by 57.1% during the second quarter. Advantage Trust Co now owns 275 shares of the company's stock valued at $29,000 after buying an additional 100 shares during the last quarter. Montag A & Associates Inc. grew its position in American Electric Power by 166.0% in the 2nd quarter. Montag A & Associates Inc. now owns 282 shares of the company's stock worth $29,000 after purchasing an additional 176 shares during the period. Finally, Bayforest Capital Ltd purchased a new position in American Electric Power during the first quarter valued at $31,000. 75.24% of the stock is owned by 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.

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