Truist Financial Begins Coverage on American Electric Power (NASDAQ:AEP)

Equities researchers at Truist Financial began coverage on shares of American Electric Power (NASDAQ:AEP) in a research report issued on Tuesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $148.00 price target on the stock. Truist Financial’s price objective points to a potential upside of 11.04% from the company’s current price.

Several other research analysts have also weighed in on the company. Mizuho upped their price target on American Electric Power from $123.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, February 13th. Barclays upped their price target on American Electric Power from $128.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 15th. Wall Street Zen lowered American Electric Power from a “hold” rating to a “sell” rating in a research report on Saturday. UBS Group upped their price target on American Electric Power from $132.00 to $135.00 in a research report on Monday, March 9th. Finally, Bank of America downgraded American Electric Power from a “buy” rating to a “neutral” rating and lowered their target price for the company from $131.00 to $122.00 in a research note on Monday, January 12th. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, American Electric Power presently has an average rating of “Moderate Buy” and a consensus target price of $137.45.

American Electric Power Stock Down 0.3%

NASDAQ:AEP opened at $133.28 on Tuesday. The firm has a market capitalization of $72.45 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 3.14 and a beta of 0.58. American Electric Power has a 1-year low of $97.46 and a 1-year high of $137.74. The company has a current ratio of 0.45, a quick ratio of 0.33 and a debt-to-equity ratio of 1.37. The business’s fifty day moving average price is $131.35 and its 200 day moving average price is $122.84.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Thursday, February 12th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.07 billion. American Electric Power had a return on equity of 10.46% and a net margin of 16.37%.American Electric Power’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.24 earnings per share. American Electric Power has set its FY 2026 guidance at 6.150-6.450 EPS. On average, sell-side analysts forecast that American Electric Power will post 6.33 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Kelly J. Ferneau sold 1,351 shares of the company’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $131.46, for a total transaction of $177,602.46. Following the completion of the sale, the executive vice president owned 15,410 shares in the company, valued at approximately $2,025,798.60. This represents a 8.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Phillip R. Ulrich sold 4,106 shares of the company’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $132.08, for a total value of $542,320.48. Following the sale, the executive vice president owned 42,263 shares of the company’s stock, valued at approximately $5,582,097.04. This trade represents a 8.86% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.05% of the company’s stock.

Institutional Trading of American Electric Power

Large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its position in shares of 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 purchasing an additional 2,763,328 shares during the last quarter. Soroban Capital Partners LP lifted its position in shares of American Electric Power by 176.3% during the 2nd 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 during the last quarter. Assenagon Asset Management S.A. increased its position in American Electric Power by 357.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,957,491 shares of the company’s stock worth $225,718,000 after acquiring an additional 1,529,662 shares during the period. State Street Corp increased its position in American Electric Power by 5.2% during the fourth quarter. State Street Corp now owns 30,437,776 shares of the company’s stock worth $3,509,780,000 after acquiring an additional 1,514,865 shares during the period. Finally, AQR Capital Management LLC increased its position in American Electric Power by 118.2% during the third quarter. AQR Capital Management LLC now owns 2,585,605 shares of the company’s stock worth $286,692,000 after acquiring an additional 1,400,547 shares during the period. Institutional investors own 75.24% of the company’s stock.

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.