Advisors Capital Management LLC Has $594,000 Stock Position in American Electric Power Company, Inc. $AEP

Advisors Capital Management LLC increased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 35.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,726 shares of the company’s stock after buying an additional 1,501 shares during the period. Advisors Capital Management LLC’s holdings in American Electric Power were worth $594,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AEP. Nuveen LLC acquired a new stake in shares of American Electric Power in the first quarter valued at about $568,042,000. GQG Partners LLC grew its holdings in American Electric Power by 30.4% in the 1st quarter. GQG Partners LLC now owns 19,631,466 shares of the company’s stock valued at $2,145,130,000 after buying an additional 4,570,941 shares during the last quarter. Wellington Management Group LLP grew its holdings in American Electric Power by 24.3% in the 1st quarter. Wellington Management Group LLP now owns 22,102,537 shares of the company’s stock valued at $2,415,144,000 after buying an additional 4,323,569 shares during the last quarter. Ghisallo Capital Management LLC bought a new position in American Electric Power in the 1st quarter worth approximately $153,524,000. Finally, Burkehill Global Management LP acquired a new position in shares of American Electric Power during the first quarter worth approximately $120,197,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Stock Performance

Shares of NASDAQ:AEP opened at $121.30 on Friday. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.41. The business’s fifty day moving average price is $115.00 and its two-hundred day moving average price is $109.50. American Electric Power Company, Inc. has a fifty-two week low of $89.91 and a fifty-two week high of $123.31. The stock has a market capitalization of $64.79 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 3.22 and a beta of 0.52.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Wednesday, October 29th. The company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.81 by ($0.01). American Electric Power had a net margin of 17.23% and a return on equity of 11.29%. The firm had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the prior year, the firm posted $1.85 EPS. The firm’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 fiscal year.

American Electric Power Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AEP. Wells Fargo & Company raised their price objective on shares of American Electric Power from $132.00 to $139.00 in a research note on Thursday, October 30th. BMO Capital Markets set a $126.00 price objective on shares of American Electric Power in a report on Thursday, October 30th. TD Cowen raised shares of American Electric Power to a “strong-buy” rating in a research report on Thursday, October 30th. Morgan Stanley lifted their target price on American Electric Power from $123.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, Barclays boosted their price target on American Electric Power from $111.00 to $117.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.50.

Insider Buying and Selling

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of American Electric Power stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $108.65, for a total value of $543,250.00. Following the completion of the transaction, the director owned 40,898 shares in the company, valued at approximately $4,443,567.70. The trade was a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kelly J. Ferneau sold 1,006 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $112.00, for a total value of $112,672.00. Following the sale, the executive vice president owned 5,676 shares in the company, valued at approximately $635,712. This trade represents a 15.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 11,006 shares of company stock valued at $1,243,522 in the last quarter. 0.07% of the stock is currently owned by corporate insiders.

About American Electric Power

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.