Wells Fargo slashes price target on American Electric Power Company Inc. [AEP] – find out why.

American Electric Power Company Inc. [NASDAQ: AEP] traded at a high on 03/15/23, posting a 2.59 gain after which it closed the day’ session at $92.59. The company report on March 13, 2023 that AEP NAMES STURGESS SVP, CONTROLLER AND CHIEF ACCOUNTING OFFICER.

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American Electric Power (Nasdaq: AEP) has named Kate Sturgess senior vice president, controller and chief accounting officer effective May 9.

In this role, she will be responsible for all aspects of accounting, financial reporting and regulatory accounting services. Sturgess will report to Ann Kelly, executive vice president and chief financial officer. She will succeed Joseph Buonaiuto, senior vice president, controller and chief accounting officer, who will retire July 1 after more than 21 years with the company.

The results of the trading session contributed to over 3919074 shares changing hands. Over the past one week, the price volatility of American Electric Power Company Inc. stands at 2.91% while the volatility over the past one month is 2.22%.

The market cap for AEP stock reached $48.25 billion, with 513.88 million shares outstanding and 513.70 million shares in the current float. Compared to the average trading volume of 2.77M shares, AEP reached a trading volume of 3919074 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about American Electric Power Company Inc. [AEP]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AEP shares is $103.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AEP stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for American Electric Power Company Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on February 01, 2023. While these analysts kept the previous recommendation, Evercore ISI raised their target price from $100 to $102. The new note on the price target was released on January 24, 2023, representing the official price target for American Electric Power Company Inc. stock. Previously, the target price had yet another drop from $101 to $98, while BofA Securities kept a Neutral rating on AEP stock.

The Average True Range (ATR) for American Electric Power Company Inc. is set at 2.09, with the Price to Sales ratio for AEP stock in the period of the last 12 months amounting to 2.46. The Price to Book ratio for the last quarter was 1.99, with the Price to Cash per share for the same quarter was set at 1.34. Price to Free Cash Flow for AEP in the course of the last twelve months was 13.62 with Quick ratio for the last quarter at 0.60.

How has AEP stock performed recently?

American Electric Power Company Inc. [AEP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.68. With this latest performance, AEP shares gained by 1.65% in over the last four-week period, additionally sinking by -9.40% over the last 6 months – not to mention a drop of -2.27% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AEP stock in for the last two-week period is set at 58.33, with the RSI for the last a single of trading hit 65.12, and the three-weeks RSI is set at 54.48 for American Electric Power Company Inc. [AEP]. The present Moving Average for the last 50 days of trading for this stock 91.95, while it was recorded at 89.70 for the last single week of trading, and 94.36 for the last 200 days.

American Electric Power Company Inc. [AEP]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and American Electric Power Company Inc. [AEP] shares currently have an operating margin of +17.60 and a Gross Margin at +25.21. American Electric Power Company Inc.’s Net Margin is presently recorded at +11.95.

Return on Equity for this stock inclined to 9.96, with Return on Assets sitting at 2.46.

American Electric Power Company Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.60.

Earnings analysis for American Electric Power Company Inc. [AEP]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AEP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for American Electric Power Company Inc. go to 6.10%.

Insider trade positions for American Electric Power Company Inc. [AEP]

There are presently around $36,144 million, or 75.70% of AEP stock, in the hands of institutional investors. The top three institutional holders of AEP stocks are: VANGUARD GROUP INC with ownership of 48,176,777, which is approximately 1.338% of the company’s market cap and around 0.03% of the total institutional ownership; BLACKROCK INC., holding 42,184,426 shares of the stock with an approximate value of $3.91 billion in AEP stocks shares; and STATE STREET CORP, currently with $2.6 billion in AEP stock with ownership of nearly -2.343% of the company’s market capitalization.

Positions in American Electric Power Company Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 735 institutional holders increased their position in American Electric Power Company Inc. [NASDAQ:AEP] by around 31,797,602 shares. Additionally, 528 investors decreased positions by around 26,134,821 shares, while 253 investors held positions by with 332,434,516 shares. The mentioned changes placed institutional holdings at 390,366,939 shares, according to the latest SEC report filing. AEP stock had 169 new institutional investments in for a total of 1,758,036 shares, while 100 institutional investors sold positions of 3,782,791 shares during the same period.


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