Ghisallo Capital Management LLC Buys Shares of 1,405,000 American Electric Power Company, Inc. $AEP

Key Points

• Ghisallo Capital Management LLC has acquired a significant position in American Electric Power, purchasing 1,405,000 shares worth approximately $153.5 million, making it the largest holding for the fund.
• Insider trading activity includes the sale of 8,058 shares by EVP David Matthew Feinberg, which represents a 43.96% decrease in his ownership of the stock.
• American Electric Power recently announced a quarterly dividend of $0.93, indicating a 3.4% dividend yield and a payout ratio of 54.39%.

Ghisallo Capital Management LLC bought a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,405,000 shares of the company's stock, valued at approximately $153,524,000. American Electric Power comprises about 13.4% of Ghisallo Capital Management LLC's holdings, making the stock its biggest position. Ghisallo Capital Management LLC owned about 0.26% of American Electric Power at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Brighton Jones LLC raised its position in American Electric Power by 11.5% in the fourth quarter. Brighton Jones LLC now owns 10,601 shares of the company's stock valued at $978,000 after purchasing an additional 1,095 shares during the period. Keel Point LLC raised its position in shares of American Electric Power by 10.1% during the 4th quarter. Keel Point LLC now owns 3,678 shares of the company's stock worth $339,000 after purchasing an additional 336 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of American Electric Power during the fourth quarter worth approximately $13,862,000. Atalanta Sosnoff Capital LLC raised its holdings in American Electric Power by 8.4% during the fourth quarter. Atalanta Sosnoff Capital LLC now owns 3,833 shares of the company's stock worth $354,000 after purchasing an additional 296 shares in the last quarter. Finally, Aptus Capital Advisors LLC raised its holdings in American Electric Power by 34.2% during the fourth quarter. Aptus Capital Advisors LLC now owns 11,151 shares of the company's stock worth $1,028,000 after purchasing an additional 2,842 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Stock Down 0.1%

AEP stock traded down $0.06 during trading on Wednesday, hitting $110.03. 2,429,072 shares of the stock traded hands, compared to its average volume of 2,980,146. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.41. The stock has a market cap of $58.84 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 2.94 and a beta of 0.46. The firm's 50 day moving average is $109.14 and its two-hundred day moving average is $106.04. American Electric Power Company, Inc. has a 1 year low of $89.91 and a 1 year high of $115.36.

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

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be given a $0.93 dividend. The ex-dividend date is Friday, August 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.4%. American Electric Power's dividend payout ratio (DPR) is currently 54.39%.

Analyst Ratings Changes

AEP has been the topic of several recent analyst reports. Citigroup boosted their target price on shares of American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Scotiabank lifted their target price on shares of American Electric Power from $102.00 to $114.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Wells Fargo & Company lifted their target price on shares of American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Raymond James Financial reissued an "outperform" rating and set a $122.00 price target (up from $115.00) on shares of American Electric Power in a research report on Thursday, July 31st. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of American Electric Power in a report on Thursday, August 21st. Five investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, American Electric Power has a consensus rating of "Hold" and an average target price of $111.29.

Insider Buying and Selling at American Electric Power

In other news, EVP David Matthew Feinberg sold 8,058 shares of American Electric Power stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total transaction of $819,820.92. Following the completion of the sale, the executive vice president directly owned 10,274 shares in the company, valued at approximately $1,045,276.76. This trade represents a 43.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company 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.