CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Grows Position in American Electric Power Company, Inc. $AEP

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 47.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,000 shares of the company’s stock after purchasing an additional 8,000 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in American Electric Power were worth $2,812,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. West Family Investments Inc. acquired a new stake in shares of American Electric Power in the second quarter valued at about $256,000. Venture Visionary Partners LLC lifted its stake in American Electric Power by 7.3% in the 2nd quarter. Venture Visionary Partners LLC now owns 68,233 shares of the company’s stock valued at $7,080,000 after buying an additional 4,616 shares in the last quarter. Invesco Ltd. boosted its holdings in American Electric Power by 5.9% in the 2nd quarter. Invesco Ltd. now owns 7,802,211 shares of the company’s stock worth $809,557,000 after buying an additional 432,441 shares during the last quarter. Bryn Mawr Trust Advisors LLC purchased a new stake in American Electric Power during the 2nd quarter worth approximately $258,000. Finally, SteelPeak Wealth LLC purchased a new position in shares of American Electric Power in the second quarter valued at approximately $7,722,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AEP has been the subject of several research reports. Wells Fargo & Company boosted their price target on American Electric Power from $132.00 to $139.00 in a research report on Thursday, October 30th. Mizuho upped their target price on shares of American Electric Power from $113.00 to $123.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Siebert Williams Shank started coverage on shares of American Electric Power in a research note on Thursday, December 18th. They issued a “buy” rating and a $137.00 price target on the stock. Barclays upped their price objective on shares of 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. Finally, Evercore ISI reissued an “outperform” rating on shares of American Electric Power in a research note on Thursday, October 30th. Two investment 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 given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $126.87.

American Electric Power Trading Up 0.2%

AEP opened at $115.99 on Wednesday. The stock has a market capitalization of $61.95 billion, a PE ratio of 16.91, a P/E/G ratio of 3.03 and a beta of 0.61. American Electric Power Company, Inc. has a one year low of $89.91 and a one year high of $124.80. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.53 and a current ratio of 0.69. The business’s 50 day moving average price is $118.60 and its 200 day moving average price is $112.82.

American Electric Power (NASDAQ:AEP) last posted its 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 net margin of 17.23% and a return on equity of 11.00%. The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter in the prior year, the firm earned $1.85 EPS. American Electric Power’s revenue for the quarter was up 10.9% compared to the same quarter last year. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. As a group, equities research analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were given a dividend of $0.95 per share. This is a boost from American Electric Power’s previous quarterly dividend of $0.93. 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. American Electric Power’s dividend payout ratio (DPR) is 55.39%.

Insider Buying and Selling

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of the company’s stock in a transaction that occurred 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 directly owned 25,898 shares in the company, valued at approximately $2,980,082.86. This represents a 16.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kelly J. Ferneau sold 1,006 shares of American Electric Power stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $112.00, for a total transaction of $112,672.00. Following the completion of the sale, the executive vice president owned 5,676 shares of the company’s stock, valued at $635,712. This trade represents a 15.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,006 shares of company stock worth $1,883,522 over the last three months. Insiders own 0.07% of the company’s stock.

About American Electric Power

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.