Carnegie Investment Counsel Acquires 9,551 Shares of American Electric Power Company, Inc. $AEP

Carnegie Investment Counsel boosted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 51.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,221 shares of the company’s stock after acquiring an additional 9,551 shares during the quarter. Carnegie Investment Counsel’s holdings in American Electric Power were worth $3,175,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Soroban Capital Partners LP raised its holdings in American Electric Power by 176.3% during the 2nd quarter. Soroban Capital Partners LP now owns 4,004,686 shares of the company’s stock worth $415,526,000 after purchasing an additional 2,555,415 shares during the last quarter. Ghisallo Capital Management LLC acquired a new stake in shares of American Electric Power during the first quarter worth $153,524,000. Assenagon Asset Management S.A. increased its position in shares of American Electric Power by 318.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,244,640 shares of the company’s stock worth $129,144,000 after buying an additional 947,418 shares during the period. Yaupon Capital Management LP bought a new position in American Electric Power during the first quarter worth $98,343,000. Finally, Amundi lifted its holdings in American Electric Power by 26.1% in the second quarter. Amundi now owns 3,694,659 shares of the company’s stock valued at $381,510,000 after buying an additional 765,258 shares during the period. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction on Friday, December 12th. The shares were sold at an average price of $115.07, for a total value of $575,350.00. Following the transaction, the director owned 25,898 shares of the company’s stock, valued at $2,980,082.86. This represents a 16.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kelly J. Ferneau sold 1,006 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were 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 $635,712. The trade was a 15.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 16,006 shares of company stock worth $1,883,522. 0.07% of the stock is currently owned by corporate insiders.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $115.67 on Friday. The company has a market capitalization of $61.78 billion, a PE ratio of 16.86, a PEG ratio of 3.02 and a beta of 0.61. The company has a quick ratio of 0.53, a current ratio of 0.69 and a debt-to-equity ratio of 1.41. The stock’s 50 day moving average price is $118.67 and its 200-day moving average price is $112.57. American Electric Power Company, Inc. has a twelve month low of $89.91 and a twelve month high of $124.80.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data 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 return on equity of 11.00% and a net margin of 17.23%.The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same period in the prior year, the firm posted $1.85 EPS. The business’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 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 disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Monday, November 10th were paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Monday, November 10th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.93. American Electric Power’s dividend payout ratio is presently 55.39%.

Analyst Ratings Changes

Several analysts have recently commented on AEP shares. Wells Fargo & Company raised their price objective on shares of American Electric Power from $132.00 to $139.00 in a research report on Thursday, October 30th. Morgan Stanley set a $120.00 price target on shares of American Electric Power in a report on Tuesday, December 16th. Cowen assumed coverage on shares of American Electric Power in a report on Wednesday, October 15th. They set a “buy” rating on the stock. Evercore ISI reissued an “outperform” rating on shares of American Electric Power in a research report on Thursday, October 30th. Finally, BMO Capital Markets set a $126.00 target price on American Electric Power in a research report on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $126.87.

American Electric Power Profile

American Electric Power (NASDAQ: AEP) is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.