Pinnacle Wealth Planning Services Inc. Purchases New Shares in American Electric Power Company, Inc. $AEP

Key Points

• Pinnacle Wealth Planning Services Inc. has acquired 2,405 shares of American Electric Power Company, Inc. (AEP) valued at approximately $263,000 in the first quarter of 2023.
• American Electric Power reported earnings of $1.43 per share for the last quarter, surpassing analyst expectations of $1.27, with a quarterly revenue increase of 11.1% compared to the previous year.
• The company announced a quarterly dividend of $0.93, which will be paid on September 10th, representing an annualized dividend yield of 3.4%.

Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,405 shares of the company's stock, valued at approximately $263,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AEP. EQ Wealth Advisors LLC bought a new position in shares of American Electric Power during the first quarter valued at $25,000. Fourth Dimension Wealth LLC bought a new stake in American Electric Power in the 4th quarter worth about $28,000. Bank of New Hampshire purchased a new position in American Electric Power in the 1st quarter worth about $28,000. MJT & Associates Financial Advisory Group Inc. bought a new position in American Electric Power during the 1st quarter valued at about $33,000. Finally, IMA Advisory Services Inc. purchased a new stake in shares of American Electric Power during the 1st quarter valued at about $35,000. 75.24% of the stock is owned by institutional investors.

American Electric Power Stock Performance

Shares of NASDAQ:AEP traded down $1.71 during mid-day trading on Thursday, reaching $108.32. 3,322,947 shares of the company traded hands, compared to its average volume of 3,540,868. The company's 50 day moving average price is $109.31 and its 200-day moving average price is $106.07. The firm has a market cap of $57.93 billion, a PE ratio of 15.83, a PEG ratio of 2.94 and a beta of 0.46. American Electric Power Company, Inc. has a 52 week low of $89.91 and a 52 week high of $115.36. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.41.

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

American Electric Power Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently weighed in on AEP shares. Scotiabank boosted their price objective on shares of American Electric Power from $102.00 to $114.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Raymond James Financial reaffirmed an "outperform" rating and issued a $122.00 target price (up previously from $115.00) on shares of American Electric Power in a research report on Thursday, July 31st. 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. Wells Fargo & Company increased their price target on American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. Finally, UBS Group lifted their price objective on American Electric Power from $100.00 to $110.00 and gave the stock a "sell" rating in a report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $111.29.

Insider Buying and Selling

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total transaction of $819,820.92. Following the completion of the transaction, the executive vice president owned 10,274 shares of the company's stock, valued at $1,045,276.76. This represents a 43.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is currently owned by insiders.

American Electric Power 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.