Petrus Trust Company LTA Makes New $299,000 Investment in American Electric Power Company, Inc. $AEP

Key Points

• Petrus Trust Company LTA acquired 2,732 shares of American Electric Power Company, Inc. valued at approximately $299,000, marking a notable new position in the company.
• American Electric Power reported earnings per share of $1.43 for Q2, exceeding expectations of $1.27, with revenues reaching $5.09 billion, a year-over-year increase of 11.1%.
• The company declared a quarterly dividend of $0.93 per share, with an annualized yield of 3.5%, reflecting a payout ratio of 54.39%.

Petrus Trust Company LTA bought a new stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,732 shares of the company's stock, valued at approximately $299,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. New England Asset Management Inc. boosted its position in shares of American Electric Power by 20.5% during the first quarter. New England Asset Management Inc. now owns 33,805 shares of the company's stock worth $3,694,000 after buying an additional 5,745 shares during the period. Nissay Asset Management Corp Japan ADV raised its stake in American Electric Power by 10.1% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 130,538 shares of the company's stock valued at $14,264,000 after purchasing an additional 11,972 shares during the period. NewEdge Advisors LLC raised its stake in American Electric Power by 44.8% during the 1st quarter. NewEdge Advisors LLC now owns 41,451 shares of the company's stock valued at $4,529,000 after purchasing an additional 12,823 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in American Electric Power by 9.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 442,723 shares of the company's stock valued at $48,357,000 after purchasing an additional 38,443 shares during the period. Finally, Integrated Wealth Concepts LLC increased its stake in shares of American Electric Power by 5.9% in the first quarter. Integrated Wealth Concepts LLC now owns 30,372 shares of the company's stock worth $3,319,000 after acquiring an additional 1,680 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Trading Up 0.4%

AEP stock traded up $0.41 during midday trading on Thursday, reaching $108.74. The company's stock had a trading volume of 2,634,068 shares, compared to its average volume of 2,856,313. American Electric Power Company, Inc. has a 52 week low of $89.91 and a 52 week high of $115.36. The stock has a market cap of $58.15 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 2.87 and a beta of 0.46. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. The business's 50-day simple moving average is $109.80 and its 200-day simple moving average is $106.24.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.16. The company 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% compared to the same quarter last year. During the same period last year, the firm posted $1.25 earnings per share. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. As a group, sell-side analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

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

Insider Activity at American Electric Power

In related news, EVP David Matthew Feinberg sold 8,058 shares of the firm's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total transaction of $819,820.92. Following the sale, the executive vice president directly owned 10,274 shares in the company, valued at $1,045,276.76. This trade represents a 43.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.07% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Barclays upped their price objective on shares of American Electric Power from $105.00 to $111.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Scotiabank boosted their price objective on American Electric Power from $102.00 to $114.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Morgan Stanley restated an "overweight" rating on shares of American Electric Power in a research note on Thursday, August 21st. Raymond James Financial restated an "outperform" rating and set a $122.00 target price (up previously from $115.00) on shares of American Electric Power in a research note on Thursday, July 31st. Finally, Mizuho set a $116.00 target price on American Electric Power and gave the company a "neutral" rating in a research note on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, American Electric Power presently has a consensus rating of "Hold" and an average price target of $111.93.

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.