Scotiabank Cuts American Electric Power (NASDAQ:AEP) Price Target to $131.00

American Electric Power (NASDAQ:AEP) had its price target cut by Scotiabank from $140.00 to $131.00 in a research report sent to investors on Wednesday morning. They currently have a sector perform rating on the stock.

Several other analysts also recently issued reports on AEP. TD Cowen reiterated a “buy” rating on shares of American Electric Power in a research note on Wednesday, September 9th. Barclays reduced their target price on American Electric Power from $138.00 to $129.00 and set an “equal weight” rating for the company in a report on Monday, August 3rd. Morgan Stanley decreased their target price on American Electric Power from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, September 18th. UBS Group set a $139.00 price target on American Electric Power in a report on Monday, September 21st. Finally, Citigroup lowered their price target on American Electric Power from $148.00 to $142.00 and set a “neutral” rating on the stock in a report on Wednesday, August 5th. Thirteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $139.62.

American Electric Power Stock Down 0.2%

American Electric Power stock opened at $119.57 on Wednesday. The company has a market capitalization of $65.09 billion, a P/E ratio of 20.51, a P/E/G ratio of 2.54 and a beta of 0.48. The firm’s fifty day simple moving average is $123.64 and its 200-day simple moving average is $129.05. The company has a current ratio of 0.50, a quick ratio of 0.38 and a debt-to-equity ratio of 1.44. American Electric Power has a 1-year low of $112.54 and a 1-year high of $140.58.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.12). The business had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.34 billion. American Electric Power had a return on equity of 9.95% and a net margin of 13.78%.The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.43 earnings per share. American Electric Power has set its FY 2026 guidance at 6.250-6.550 EPS. Sell-side analysts forecast that American Electric Power will post 6.38 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Monday, August 10th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $3.80 dividend on an annualized basis and a yield of 3.2%. American Electric Power’s payout ratio is 65.18%.

Insider Buying and Selling

In related news, CAO Kate Dixon sold 2,000 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $125.00, for a total transaction of $250,000.00. Following the completion of the transaction, the chief accounting officer directly owned 15,856 shares in the company, valued at $1,982,000. This represents a 11.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.05% of the stock is currently owned by insiders.

Institutional Trading of American Electric Power

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of American Electric Power during the 2nd quarter valued at about $6,980,601,000. Bank of America Corp DE acquired a new position in shares of American Electric Power in the 2nd quarter valued at approximately $1,678,638,000. GQG Partners LLC bought a new stake in American Electric Power during the 2nd quarter worth approximately $1,404,094,000. Legal & General Group Plc bought a new stake in American Electric Power during the 2nd quarter worth approximately $680,638,000. Finally, Bank of New York Mellon Corp acquired a new stake in American Electric Power during the 2nd quarter worth approximately $495,495,000. 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 regulated electric utility holding company that generates, transmits and distributes electricity to residential, commercial, industrial and other customers. Through its operating companies, AEP owns and manages a diverse portfolio of power plants, electric distribution systems and one of the largest transmission networks in the United States.

AEP serves customers across parts of 11 states, including Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.