Allstate Corp Takes Position in American Electric Power Company, Inc. $AEP

Allstate Corp purchased a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 19,804 shares of the company’s stock, valued at approximately $2,228,000.

A number of other institutional investors have also made changes to their positions in AEP. Brighton Jones LLC boosted its stake in American Electric Power by 11.5% during the 4th quarter. Brighton Jones LLC now owns 10,601 shares of the company’s stock worth $978,000 after purchasing an additional 1,095 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of American Electric Power in the first quarter valued at about $320,000. Sivia Capital Partners LLC raised its holdings in shares of American Electric Power by 149.5% in the second quarter. Sivia Capital Partners LLC now owns 4,891 shares of the company’s stock valued at $507,000 after buying an additional 2,931 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of American Electric Power by 10.4% during the second quarter. Exchange Traded Concepts LLC now owns 11,985 shares of the company’s stock worth $1,244,000 after buying an additional 1,129 shares during the period. Finally, Diversified Trust Co grew its holdings in shares of American Electric Power by 17.9% during the second quarter. Diversified Trust Co now owns 7,955 shares of the company’s stock worth $825,000 after buying an additional 1,208 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Stock Up 0.5%

AEP opened at $119.96 on Tuesday. The firm has a 50 day moving average price of $117.88 and a 200 day moving average price of $114.21. The company has a market cap of $64.07 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 2.87 and a beta of 0.63. American Electric Power Company, Inc. has a 1 year low of $96.80 and a 1 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.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Wednesday, October 29th. The company reported $1.80 earnings per share (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 company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same quarter last year, the business posted $1.85 EPS. American Electric Power’s quarterly revenue 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. Sell-side analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Increases Dividend

The company 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 annualized dividend and a yield of 3.2%. This is a boost from American Electric Power’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, November 10th. American Electric Power’s dividend payout ratio (DPR) is 55.39%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AEP shares. JPMorgan Chase & Co. boosted their price target on shares of American Electric Power from $121.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Jefferies Financial Group raised American Electric Power from a “hold” rating to a “buy” rating and increased their target price for the stock from $128.00 to $137.00 in a research note on Monday, November 17th. Mizuho lifted their price target on American Electric Power from $113.00 to $123.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Bank of America lowered American Electric Power from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $131.00 to $122.00 in a report on Monday, January 12th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of American Electric Power in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $127.13.

Insider Buying and Selling

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $115.07, for a total value of $575,350.00. Following the sale, the director owned 25,898 shares of the company’s stock, valued at approximately $2,980,082.86. This trade represents a 16.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.07% of the stock is currently owned by corporate insiders.

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.