American Electric Power (NASDAQ:AEP) Given New $128.00 Price Target at Morgan Stanley

American Electric Power (NASDAQ:AEP) had its price target lowered by Morgan Stanley from $130.00 to $128.00 in a report published on Thursday, Marketbeat Ratings reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other research firms have also recently commented on AEP. Mizuho boosted their price objective on American Electric Power from $113.00 to $123.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Barclays boosted their target price on shares of American Electric Power from $111.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 14th. BMO Capital Markets set a $126.00 price objective on American Electric Power in a report on Thursday, October 30th. BTIG Research began coverage on American Electric Power in a research report on Tuesday, October 21st. They issued a “neutral” rating on the stock. Finally, Wells Fargo & Company raised their price target on shares of American Electric Power from $132.00 to $139.00 in a research note on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $125.85.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $120.53 on Thursday. American Electric Power has a 12 month low of $89.91 and a 12 month high of $124.80. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.41. The firm’s 50 day simple moving average is $116.13 and its 200-day simple moving average is $109.89. The stock has a market capitalization of $64.38 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 3.22 and a beta of 0.52.

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

American Electric Power Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, November 10th. This is an increase from American Electric Power’s previous quarterly dividend of $0.93. American Electric Power’s payout ratio is 55.39%.

Insider Activity

In related news, EVP Kelly J. Ferneau sold 1,006 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was 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 approximately $635,712. This represents a 15.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the company’s 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 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 position. The SEC filing for this sale provides additional information. Insiders have sold 16,006 shares of company stock valued at $1,851,422 over the last three months. 0.07% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On American Electric Power

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AEP. Nuveen LLC purchased a new position in American Electric Power in the first quarter valued at about $568,042,000. GQG Partners LLC increased its stake in shares of American Electric Power by 30.4% in the first quarter. GQG Partners LLC now owns 19,631,466 shares of the company’s stock worth $2,145,130,000 after buying an additional 4,570,941 shares during the last quarter. Wellington Management Group LLP boosted its stake in American Electric Power by 24.3% during the 1st quarter. Wellington Management Group LLP now owns 22,102,537 shares of the company’s stock valued at $2,415,144,000 after acquiring an additional 4,323,569 shares during the last quarter. Victory Capital Management Inc. grew its holdings in American Electric Power by 105.6% during the 3rd quarter. Victory Capital Management Inc. now owns 5,379,342 shares of the company’s stock worth $595,243,000 after acquiring an additional 2,763,328 shares in the last quarter. Finally, Soroban Capital Partners LP grew its stake in American Electric Power by 176.3% in the second quarter. Soroban Capital Partners LP now owns 4,004,686 shares of the company’s stock worth $415,526,000 after purchasing an additional 2,555,415 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.