American Electric Power (NASDAQ:AEP) Director Benjamin Fowke III Sells 5,000 Shares

Key Points

• Benjamin Fowke III, Director of American Electric Power, sold 5,000 shares at an average price of $117.52, which reduces his ownership by 12.23%.
• American Electric Power reported $1.43 earnings per share for the last quarter, surpassing analysts' expectations, with revenue up 11.1% year-over-year.
• The company has declared a quarterly dividend of $0.93, representing a 3.1% dividend yield with a payout ratio of 54.39%.

American Electric Power Company, Inc. (NASDAQ:AEP - Get Free Report) Director Benjamin Fowke III sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $117.52, for a total transaction of $587,600.00. Following the completion of the transaction, the director directly owned 35,898 shares of the company's stock, valued at approximately $4,218,732.96. This trade represents a 12.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

American Electric Power Price Performance

Shares of NASDAQ AEP traded up $1.41 during mid-day trading on Tuesday, reaching $118.21. 238,732 shares of the company were exchanged, compared to its average volume of 3,507,010. The stock has a market capitalization of $63.22 billion, a PE ratio of 17.29, a PEG ratio of 3.09 and a beta of 0.48. The company's 50 day moving average price is $111.48 and its 200 day moving average price is $107.23. American Electric Power Company, Inc. has a 52 week low of $89.91 and a 52 week high of $119.06. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.16. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The firm had revenue of $5.09 billion for the quarter, compared to analysts' expectations of $4.85 billion. During the same quarter in the previous year, the company earned $1.25 earnings per share. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. Sell-side analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were paid a $0.93 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.1%. American Electric Power's dividend payout ratio is 54.39%.

Wall Street Analyst Weigh In

A number of brokerages have commented on AEP. Weiss Ratings reissued a "buy (b)" rating on shares of American Electric Power in a research note on Wednesday, October 8th. Mizuho lowered their target price on shares of American Electric Power from $116.00 to $113.00 and set a "neutral" rating for the company in a report on Tuesday, September 16th. Barclays raised their target price on shares of American Electric Power from $111.00 to $117.00 and gave the stock an "equal weight" rating in a report on Tuesday. Evercore ISI assumed coverage on shares of American Electric Power in a report on Monday, October 6th. They set an "outperform" rating and a $133.00 price objective for the company. Finally, UBS Group lifted their price objective on shares of American Electric Power from $110.00 to $116.00 and gave the company a "sell" rating in a report on Friday. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $114.90.

Hedge Funds Weigh In On American Electric Power

Several institutional investors have recently bought and sold shares of AEP. EQ Wealth Advisors LLC purchased a new stake in shares of American Electric Power in the 1st quarter worth about $25,000. Advantage Trust Co increased its position in American Electric Power by 57.1% during the 2nd quarter. Advantage Trust Co now owns 275 shares of the company's stock worth $29,000 after purchasing an additional 100 shares in the last quarter. Montag A & Associates Inc. boosted its stake in shares of American Electric Power by 166.0% during the 2nd quarter. Montag A & Associates Inc. now owns 282 shares of the company's stock valued at $29,000 after buying an additional 176 shares during the last quarter. Bayforest Capital Ltd acquired a new position in shares of American Electric Power during the first quarter valued at $31,000. Finally, Missouri Trust & Investment Co bought a new stake in shares of American Electric Power in the 2nd quarter worth approximately $31,000. 75.24% of the stock is owned by institutional investors and hedge funds.

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.

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