American Electric Power Company, Inc. $AEP Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 15.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,008,597 shares of the company’s stock after selling 370,400 shares during the quarter. California Public Employees Retirement System owned about 0.38% of American Electric Power worth $208,412,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. West Family Investments Inc. acquired a new position in shares of American Electric Power in the second quarter worth about $256,000. Venture Visionary Partners LLC grew its stake in American Electric Power by 7.3% during the 2nd quarter. Venture Visionary Partners LLC now owns 68,233 shares of the company’s stock valued at $7,080,000 after purchasing an additional 4,616 shares in the last quarter. Bryn Mawr Trust Advisors LLC purchased a new stake in American Electric Power during the 2nd quarter worth approximately $258,000. SteelPeak Wealth LLC purchased a new stake in American Electric Power during the 2nd quarter worth approximately $7,722,000. Finally, Huntington National Bank raised its position in shares of American Electric Power by 5.0% in the 2nd quarter. Huntington National Bank now owns 1,106,134 shares of the company’s stock valued at $114,772,000 after purchasing an additional 52,287 shares in the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. BTIG Research initiated coverage on shares of American Electric Power in a research report on Tuesday, October 21st. They set a “neutral” rating for the company. Evercore ISI reiterated an “outperform” rating on shares of American Electric Power in a research note on Thursday, October 30th. Raymond James Financial reissued an “outperform” rating on shares of American Electric Power in a research report on Thursday, October 30th. Mizuho increased their price target on shares of American Electric Power from $113.00 to $123.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Finally, Scotiabank lifted their price target on American Electric Power from $114.00 to $121.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.85.

American Electric Power Stock Down 0.4%

Shares of NASDAQ:AEP opened at $117.54 on Monday. The company’s fifty day moving average is $118.90 and its two-hundred day moving average is $111.30. 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 1-year low of $89.91 and a 1-year high of $124.80. The stock has a market capitalization of $62.78 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 3.07 and a beta of 0.61.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.65 billion. American Electric Power had a net margin of 17.23% and a return on equity of 11.00%. American Electric Power’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.85 EPS. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. Equities analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Increases Dividend

The business also recently announced 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. This represents a $3.80 annualized dividend and a dividend yield of 3.2%. This is a boost from American Electric Power’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Monday, November 10th. American Electric Power’s dividend payout ratio is currently 55.39%.

Insider Buying and Selling

In related news, EVP Kelly J. Ferneau sold 1,006 shares of the firm’s 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 of the company’s stock, valued at approximately $635,712. This trade represents a 15.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 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 position. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,006 shares of company stock worth $1,851,422 over the last quarter. Insiders own 0.07% of the company’s stock.

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.