American Electric Power Company, Inc. $AEP Shares Bought by Mainstay Capital Management LLC ADV

Key Points

• Mainstay Capital Management LLC ADV increased its stake in American Electric Power Company by 103.7% during the 2nd quarter, owning 31,338 shares worth approximately $3.25 million.
• Institutional investors own 75.24% of American Electric Power's stock, with significant purchases from Nuveen LLC and GQG Partners LLC in the first quarter.
• American Electric Power declared a quarterly dividend of $0.93 per share, equating to an annual yield of 3.1% and a payout ratio of 54.39%.

Mainstay Capital Management LLC ADV increased its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 103.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,338 shares of the company's stock after acquiring an additional 15,954 shares during the period. Mainstay Capital Management LLC ADV's holdings in American Electric Power were worth $3,252,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Nuveen LLC purchased a new position in American Electric Power in the first quarter valued at approximately $568,042,000. GQG Partners LLC boosted its stake in shares of American Electric Power by 30.4% during the 1st quarter. GQG Partners LLC now owns 19,631,466 shares of the company's stock valued at $2,145,130,000 after buying an additional 4,570,941 shares during the last quarter. Wellington Management Group LLP grew its holdings in American Electric Power by 24.3% during the 1st quarter. Wellington Management Group LLP now owns 22,102,537 shares of the company's stock worth $2,415,144,000 after acquiring an additional 4,323,569 shares in the last quarter. Bessemer Group Inc. increased its holdings in American Electric Power by 4,567.3% in the first quarter. Bessemer Group Inc. now owns 1,764,677 shares of the company's stock valued at $192,827,000 after buying an additional 1,726,868 shares during the last quarter. Finally, Ghisallo Capital Management LLC bought a new position in American Electric Power during the 1st quarter worth approximately $153,524,000. Institutional investors and hedge funds own 75.24% of the company's stock.

Analyst Upgrades and Downgrades

AEP has been the subject of a number of research analyst reports. LADENBURG THALM/SH SH lowered their price target on American Electric Power from $112.00 to $108.50 and set a "neutral" rating for the company in a report on Wednesday, September 10th. Jefferies Financial Group cut their target price on American Electric Power from $120.00 to $116.00 and set a "hold" rating on the stock in a research note on Thursday, September 11th. Raymond James Financial restated an "outperform" rating and issued a $122.00 target price (up from $115.00) on shares of American Electric Power in a research report on Thursday, July 31st. UBS Group upped their price objective on shares of American Electric Power from $100.00 to $110.00 and gave the stock a "sell" rating in a report on Thursday, July 31st. Finally, Morgan Stanley dropped their price target on shares of American Electric Power from $117.00 to $115.00 and set an "overweight" rating on the stock in a research report on Thursday, September 25th. Seven 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. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $114.10.

American Electric Power Stock Up 0.0%

Shares of American Electric Power stock opened at $118.19 on Thursday. American Electric Power Company, Inc. has a 1 year low of $89.91 and a 1 year high of $119.06. The company has a market cap of $63.21 billion, a P/E ratio of 17.28, a P/E/G ratio of 3.12 and a beta of 0.48. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33. The stock has a 50-day moving average price of $111.30 and a 200 day moving average price of $106.94.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its 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. The company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.85 billion. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%.The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.25 EPS. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. As a group, analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Kelly J. Ferneau sold 1,006 shares of American Electric Power stock in a transaction dated 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 in the company, valued at $635,712. The trade was a 15.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $108.65, for a total transaction of $543,250.00. Following the transaction, the director directly owned 40,898 shares in the company, valued at approximately $4,443,567.70. The trade was a 10.89% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.07% of the company's stock.

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.

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