American Electric Power (NASDAQ:AEP) Given New $123.00 Price Target at Mizuho

American Electric Power (NASDAQ:AEP) had its price objective raised by Mizuho from $113.00 to $123.00 in a research report released on Thursday morning, MarketBeat.com reports. The brokerage currently has a neutral rating on the stock.

Several other analysts have also weighed in on AEP. Cowen initiated coverage on American Electric Power in a report on Wednesday, October 15th. They set a “buy” rating on the stock. The Goldman Sachs Group increased their price target on American Electric Power from $125.00 to $128.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. Raymond James Financial restated an “outperform” rating and set a $122.00 price target (up previously from $115.00) on shares of American Electric Power in a report on Thursday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of American Electric Power in a report on Wednesday, October 8th. Finally, UBS Group increased their price target on American Electric Power from $110.00 to $116.00 and gave the company a “sell” rating in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, American Electric Power currently has an average rating of “Moderate Buy” and an average price target of $122.44.

American Electric Power Stock Down 0.2%

Shares of AEP opened at $121.89 on Thursday. The stock has a market capitalization of $65.19 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 3.22 and a beta of 0.48. American Electric Power has a 1 year low of $89.91 and a 1 year high of $122.85. The business’s 50 day simple moving average is $112.82 and its 200-day simple moving average is $108.41. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.41.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.01). American Electric Power had a net margin of 17.23% and a return on equity of 11.29%. The company had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter in the previous year, the company posted $1.85 EPS. The business’s quarterly revenue was up 10.9% on a year-over-year basis. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. As a group, equities analysts expect that American Electric Power will post 5.87 earnings per share for the current fiscal year.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be paid a $0.95 dividend. The ex-dividend date is Monday, November 10th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.93. This represents a $3.80 dividend on an annualized basis and a yield of 3.1%. American Electric Power’s payout ratio is 54.39%.

Insiders Place Their Bets

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of the firm’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $117.52, for a total transaction of $587,600.00. Following the transaction, the director owned 35,898 shares in the company, valued at approximately $4,218,732.96. This trade represents a 12.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kelly J. Ferneau sold 1,006 shares of the firm’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 transaction, the executive vice president owned 5,676 shares in the company, valued at approximately $635,712. This represents a 15.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 11,006 shares of company stock worth $1,243,522. Insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On American Electric Power

Several institutional investors have recently made changes to their positions in the company. TrueMark Investments LLC increased its stake in shares of American Electric Power by 7.3% during the third quarter. TrueMark Investments LLC now owns 54,708 shares of the company’s stock valued at $6,155,000 after buying an additional 3,733 shares during the period. Rossmore Private Capital increased its stake in shares of American Electric Power by 6.5% during the third quarter. Rossmore Private Capital now owns 4,799 shares of the company’s stock valued at $540,000 after buying an additional 293 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in shares of American Electric Power by 2.7% during the third quarter. Envestnet Portfolio Solutions Inc. now owns 34,555 shares of the company’s stock valued at $3,887,000 after buying an additional 903 shares during the period. Lockheed Martin Investment Management Co. increased its stake in shares of American Electric Power by 7.4% during the third quarter. Lockheed Martin Investment Management Co. now owns 99,600 shares of the company’s stock valued at $11,205,000 after buying an additional 6,900 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in shares of American Electric Power by 10.7% during the third quarter. Teacher Retirement System of Texas now owns 103,587 shares of the company’s stock valued at $11,654,000 after buying an additional 10,020 shares during the period. Hedge funds and other institutional investors 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.