Weiss Ratings Reaffirms Buy (B) Rating for American Electric Power (NASDAQ:AEP)

Key Points

• Weiss Ratings has reaffirmed a "Buy (B)" rating for American Electric Power (NASDAQ:AEP) in a recent report, indicating strong confidence in the company's stock.
• Analysts have mixed views on AEP, with a consensus rating of "Hold" and a price target averaging $114.10, while some analysts have raised or lowered their price targets reflecting varied expectations.
• American Electric Power's stock is currently priced at $118.19, with a market capitalization of approximately $63.21 billion and a reported earnings increase in the last quarter.

American Electric Power (NASDAQ:AEP - Get Free Report)'s stock had its "buy (b)" rating restated by research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other equities research analysts also recently issued reports on the company. LADENBURG THALM/SH SH decreased their price objective on American Electric Power from $112.00 to $108.50 and set a "neutral" rating on the stock in a research report on Wednesday, September 10th. Morgan Stanley lowered their target price on shares of American Electric Power from $117.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, September 25th. Raymond James Financial restated an "outperform" rating and issued a $122.00 target price (up previously from $115.00) on shares of American Electric Power in a report on Thursday, July 31st. Jefferies Financial Group lowered their target price on shares of American Electric Power from $120.00 to $116.00 and set a "hold" rating for the company in a report on Thursday, September 11th. Finally, Evercore ISI initiated coverage on shares of American Electric Power in a report on Monday. They issued an "outperform" rating and a $133.00 target price for the company. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $114.10.

American Electric Power Price Performance

Shares of NASDAQ:AEP traded up $0.03 during midday trading on Wednesday, reaching $118.19. 3,821,659 shares of the company were exchanged, compared to its average volume of 3,531,712. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33. The business's fifty day moving average is $111.20 and its two-hundred day moving average is $106.86. American Electric Power has a one year low of $89.91 and a one year high of $119.06. The stock has a market cap of $63.21 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 3.06 and a beta of 0.48.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its 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 net margin of 17.68% and a return on equity of 11.55%. The firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. American Electric Power's revenue for the quarter 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. As a group, analysts predict that American Electric Power will post 5.87 earnings per share for the current year.

Insider Activity at American Electric Power

In related news, EVP Kelly J. Ferneau sold 1,006 shares of the business's stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $112.00, for a total value of $112,672.00. Following the completion of the transaction, the executive vice president directly owned 5,676 shares in the company, valued at $635,712. The trade was a 15.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the business's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $108.65, for a total transaction of $543,250.00. Following the completion of the transaction, the director owned 40,898 shares of the company's stock, valued at approximately $4,443,567.70. This represents a 10.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On American Electric Power

A number of hedge funds have recently modified their holdings of the company. Kingswood Wealth Advisors LLC lifted its position in shares of American Electric Power by 14.8% during the first quarter. Kingswood Wealth Advisors LLC now owns 3,331 shares of the company's stock worth $364,000 after purchasing an additional 430 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in shares of American Electric Power during the first quarter worth about $262,000. Venture Visionary Partners LLC lifted its position in shares of American Electric Power by 7.3% during the second quarter. Venture Visionary Partners LLC now owns 68,233 shares of the company's stock worth $7,080,000 after purchasing an additional 4,616 shares in the last quarter. Robertson Stephens Wealth Management LLC acquired a new stake in shares of American Electric Power during the first quarter worth about $205,000. Finally, GAMMA Investing LLC raised its holdings in American Electric Power by 24.5% in the first quarter. GAMMA Investing LLC now owns 19,678 shares of the company's stock valued at $2,150,000 after acquiring an additional 3,867 shares in the last quarter. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.