Allspring Global Investments Holdings LLC Sells 66,773 Shares of American Electric Power Company, Inc. $AEP

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in American Electric Power Company by 1.4%, selling 66,773 shares and now holding 4,761,213 shares.
• Equities analysts have mixed ratings on the stock, with seven analysts recommending a Buy, eight a Hold, and one a Sell, along with a target price averaging $114.50.
• American Electric Power recently declared a quarterly dividend of $0.93 per share, representing an annualized yield of 3.2% and a payout ratio of 54.39%.

Allspring Global Investments Holdings LLC lowered its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 1.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,761,213 shares of the company's stock after selling 66,773 shares during the quarter. American Electric Power accounts for about 0.8% of Allspring Global Investments Holdings LLC's holdings, making the stock its 11th largest position. Allspring Global Investments Holdings LLC owned 0.89% of American Electric Power worth $497,023,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. EQ Wealth Advisors LLC bought a new stake in shares of American Electric Power in the 1st quarter worth approximately $25,000. Bayforest Capital Ltd bought a new stake in shares of American Electric Power in the 1st quarter worth approximately $31,000. Missouri Trust & Investment Co bought a new stake in shares of American Electric Power in the 2nd quarter worth approximately $31,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of American Electric Power in the 1st quarter worth approximately $33,000. Finally, IMA Advisory Services Inc. bought a new position in shares of American Electric Power during the 1st quarter worth approximately $35,000. Institutional investors own 75.24% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AEP shares. Evercore ISI started coverage on American Electric Power in a research report on Monday, October 6th. They set an "outperform" rating and a $133.00 target price for the company. Morgan Stanley cut their target price on American Electric Power from $117.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. LADENBURG THALM/SH SH cut their target price on American Electric Power from $112.00 to $108.50 and set a "neutral" rating for the company in a research report on Wednesday, September 10th. Mizuho cut their target price on American Electric Power from $116.00 to $113.00 and set a "neutral" rating for the company in a research report on Tuesday, September 16th. Finally, Jefferies Financial Group cut their target price on American Electric Power from $120.00 to $116.00 and set a "hold" rating for the company in a research report on Thursday, September 11th. Seven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, American Electric Power presently has an average rating of "Hold" and an average price target of $114.50.

Insiders Place Their Bets

In related news, EVP Kelly J. Ferneau sold 1,006 shares of the firm's stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $112.00, for a total transaction of $112,672.00. Following the completion of the sale, the executive vice president directly owned 5,676 shares of the company's stock, valued at $635,712. This trade represents a 15.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the firm's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $108.65, for a total value of $543,250.00. Following the sale, the director directly owned 40,898 shares of the company's stock, valued at $4,443,567.70. This represents a 10.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.07% of the company's stock.

American Electric Power Trading Up 0.1%

AEP stock opened at $117.04 on Monday. The business has a fifty day moving average price of $111.44 and a 200 day moving average price of $107.16. American Electric Power Company, Inc. has a fifty-two week low of $89.91 and a fifty-two week high of $119.06. The stock has a market capitalization of $62.59 billion, a price-to-earnings ratio of 17.11, a P/E/G ratio of 3.09 and a beta of 0.48. 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 released its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.16. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%.The firm had revenue of $5.09 billion during the quarter, compared to analysts' expectations of $4.85 billion. During the same period last year, the firm posted $1.25 EPS. The business's revenue was up 11.1% on a year-over-year basis. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. Analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently declared 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 yield of 3.2%. The ex-dividend date of this dividend was Friday, August 8th. American Electric Power's dividend payout ratio (DPR) is currently 54.39%.

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.

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