1832 Asset Management L.P. Increases Stake in American Electric Power Company, Inc. $AEP

1832 Asset Management L.P. increased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 39.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,340 shares of the company’s stock after buying an additional 7,510 shares during the period. 1832 Asset Management L.P.’s holdings in American Electric Power were worth $2,733,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AEP. Advantage Trust Co grew its position in American Electric Power by 57.1% in the 2nd quarter. Advantage Trust Co now owns 275 shares of the company’s stock valued at $29,000 after buying an additional 100 shares during the last quarter. Montag A & Associates Inc. raised its position in American Electric Power by 166.0% during the 2nd quarter. Montag A & Associates Inc. now owns 282 shares of the company’s stock worth $29,000 after buying an additional 176 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in shares of American Electric Power in the 1st quarter worth $31,000. Missouri Trust & Investment Co purchased a new stake in shares of American Electric Power in the second quarter valued at about $31,000. Finally, GoalVest Advisory LLC increased 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 worth $32,000 after acquiring an additional 230 shares during the period. Institutional investors and hedge funds own 75.24% of the company’s stock.

Insider Buying and Selling

In other American Electric Power news, EVP Kelly J. Ferneau sold 1,006 shares of the 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 sale, the executive vice president directly owned 5,676 shares in the company, valued at $635,712. This represents a 15.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $121.58, for a total value of $607,900.00. Following the completion of the transaction, the director owned 30,898 shares of the company’s stock, valued at $3,756,578.84. This represents a 13.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 16,006 shares of company stock worth $1,851,422 over the last quarter. 0.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. BTIG Research assumed coverage on shares of American Electric Power in a research report on Tuesday, October 21st. They issued a “neutral” rating for the company. LADENBURG THALM/SH SH raised their price target on American Electric Power from $108.50 to $124.50 and gave the company a “neutral” rating in a report on Thursday, November 20th. JPMorgan Chase & Co. lifted their price target on American Electric Power from $115.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Wells Fargo & Company upped their price objective on American Electric Power from $132.00 to $139.00 in a report on Thursday, October 30th. Finally, Barclays raised their target price on American Electric Power from $111.00 to $117.00 and gave the company an “equal weight” rating in a report on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $125.85.

American Electric Power Trading Down 0.4%

Shares of AEP stock opened at $117.54 on Friday. The stock has a market cap of $62.78 billion, a price-to-earnings ratio of 17.13, a P/E/G ratio of 3.08 and a beta of 0.61. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.53 and a current ratio of 0.69. American Electric Power Company, Inc. has a 52-week low of $89.91 and a 52-week high of $124.80. The firm has a fifty day moving average of $118.90 and a 200-day moving average of $111.18.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). American Electric Power had a return on equity of 11.00% and a net margin of 17.23%.The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter last year, the company earned $1.85 earnings per share. The firm’s revenue 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. On average, equities research analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be paid a $0.95 dividend. 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 yield of 3.2%. American Electric Power’s payout ratio is currently 55.39%.

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.