1ST Source Bank Purchases 438 Shares of American Electric Power Company, Inc. $AEP

1ST Source Bank raised its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,881 shares of the company’s stock after acquiring an additional 438 shares during the period. 1ST Source Bank’s holdings in American Electric Power were worth $2,789,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Advantage Trust Co raised its stake in shares of American Electric Power by 57.1% during the second quarter. Advantage Trust Co now owns 275 shares of the company’s stock worth $29,000 after acquiring an additional 100 shares in the last quarter. Bayforest Capital Ltd purchased a new position in American Electric Power in the 1st quarter worth $31,000. Missouri Trust & Investment Co bought a new stake in American Electric Power in the second quarter worth $31,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in American Electric Power during the first quarter valued at about $33,000. Finally, GoalVest Advisory LLC grew its stake in shares of American Electric Power by 277.1% during the second quarter. GoalVest Advisory LLC now owns 313 shares of the company’s stock valued at $32,000 after buying an additional 230 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

Insider Activity at American Electric Power

In other news, EVP Kelly J. Ferneau sold 1,006 shares of the business’s stock in a transaction dated 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 owned 5,676 shares of the company’s stock, valued at $635,712. The trade was a 15.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $117.52, for a total transaction of $587,600.00. Following the sale, the director directly owned 35,898 shares in the company, valued at approximately $4,218,732.96. The trade was a 12.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 11,006 shares of company stock valued at $1,243,522 in the last ninety days. Corporate insiders own 0.07% of the company’s stock.

American Electric Power Price Performance

AEP opened at $121.43 on Friday. The company’s 50-day simple moving average is $113.74 and its two-hundred day simple moving average is $108.98. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55. The stock has a market capitalization of $65.00 billion, a P/E ratio of 17.70, a P/E/G ratio of 3.22 and a beta of 0.52. American Electric Power Company, Inc. has a 52-week low of $89.91 and a 52-week high of $122.85.

American Electric Power (NASDAQ:AEP) last announced 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 during the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the previous year, the business posted $1.85 earnings per share. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. As a group, analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be issued a $0.95 dividend. The ex-dividend date is Monday, November 10th. This represents a $3.80 annualized dividend and a dividend yield of 3.1%. This is an increase from American Electric Power’s previous quarterly dividend of $0.93. American Electric Power’s dividend payout ratio (DPR) is presently 55.39%.

Analyst Upgrades and Downgrades

AEP has been the subject of several analyst reports. Evercore ISI reissued an “outperform” rating on shares of American Electric Power in a research report on Thursday, October 30th. Raymond James Financial restated an “outperform” rating on shares of American Electric Power in a research report on Thursday, October 30th. Citigroup increased their target price on shares of American Electric Power from $111.00 to $132.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Barclays raised their target price on 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. Finally, Scotiabank upped their price target on American Electric Power from $114.00 to $121.00 and gave the company a “sector perform” rating in a research report on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, American Electric Power currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.50.

American Electric Power Company Profile

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.