American Electric Power (NASDAQ:AEP) Lowered to Neutral Rating by Bank of America

American Electric Power (NASDAQ:AEP) was downgraded by equities researchers at Bank of America from a “buy” rating to a “neutral” rating in a note issued to investors on Monday,Finviz reports. They currently have a $122.00 price objective on the stock. Bank of America‘s price objective suggests a potential upside of 4.35% from the company’s current price.

A number of other brokerages also recently issued reports on AEP. The Goldman Sachs Group increased their price target on shares of American Electric Power from $128.00 to $133.00 in a report on Thursday, October 30th. Cowen started coverage on shares of American Electric Power in a report on Wednesday, October 15th. They issued a “buy” rating for the company. UBS Group lowered their price target on American Electric Power from $114.00 to $107.00 and set a “sell” rating on the stock in a report on Wednesday, December 17th. Raymond James Financial reaffirmed an “outperform” rating on shares of American Electric Power in a report on Thursday, October 30th. Finally, Siebert Williams Shank assumed coverage on American Electric Power in a report on Thursday, December 18th. They issued a “buy” rating and a $137.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $127.29.

American Electric Power Trading Up 0.8%

NASDAQ AEP opened at $116.91 on Monday. The company has a quick ratio of 0.53, a current ratio of 0.69 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $62.44 billion, a P/E ratio of 17.04, a P/E/G ratio of 2.85 and a beta of 0.63. American Electric Power has a 52-week low of $92.67 and a 52-week high of $124.80. The firm has a 50-day moving average price of $118.14 and a 200 day moving average price of $113.57.

American Electric Power (NASDAQ:AEP) last released 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). The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.65 billion. American Electric Power had a return on equity of 11.00% and a net margin of 17.23%.The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.85 EPS. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. Equities research analysts expect that American Electric Power will post 5.87 EPS for the current year.

Insider Activity

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of American Electric Power stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $115.07, for a total transaction of $575,350.00. Following the completion of the sale, the director directly owned 25,898 shares in the company, valued at $2,980,082.86. The trade was a 16.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.07% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AEP. Harbor Capital Advisors Inc. purchased a new stake in shares of American Electric Power in the third quarter valued at $26,000. Meeder Asset Management Inc. purchased a new stake in American Electric Power in the 3rd quarter valued at about $26,000. Dogwood Wealth Management LLC increased its stake in shares of American Electric Power by 330.2% during the 3rd quarter. Dogwood Wealth Management LLC now owns 228 shares of the company’s stock valued at $26,000 after acquiring an additional 175 shares during the last quarter. Advantage Trust Co grew its holdings in American Electric Power by 57.1% in the second quarter. Advantage Trust Co now owns 275 shares of the company’s stock valued at $29,000 after purchasing an additional 100 shares during the period. Finally, Montag A & Associates Inc. increased its position in American Electric Power by 166.0% during the second 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 last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

About American Electric Power

American Electric Power (NASDAQ: AEP) is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.