Sciencast Management LP Cuts Stock Position in American Electric Power Company, Inc. $AEP

Key Points

• Sciencast Management LP reduced its holdings in American Electric Power by 49.5%, now owning 7,311 shares worth approximately $799,000.
• Several institutional investors, including Vanguard Group and Wellington Management, have increased their stakes in American Electric Power, indicating strong confidence in the stock.
• American Electric Power recently reported a 11.1% year-over-year revenue increase, with $1.43 earnings per share for the last quarter, surpassing the expected $1.27.

Sciencast Management LP reduced its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 49.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,311 shares of the company's stock after selling 7,163 shares during the quarter. Sciencast Management LP's holdings in American Electric Power were worth $799,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of AEP. Brighton Jones LLC increased its holdings in American Electric Power by 11.5% in the 4th quarter. Brighton Jones LLC now owns 10,601 shares of the company's stock worth $978,000 after buying an additional 1,095 shares during the period. Deutsche Bank AG increased its holdings in American Electric Power by 16.2% in the 4th quarter. Deutsche Bank AG now owns 998,845 shares of the company's stock worth $92,123,000 after buying an additional 139,138 shares during the period. D. E. Shaw & Co. Inc. increased its holdings in American Electric Power by 138.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 30,019 shares of the company's stock worth $2,769,000 after buying an additional 17,430 shares during the period. Ethic Inc. acquired a new position in American Electric Power in the 4th quarter worth approximately $666,000. Finally, Focus Partners Wealth increased its holdings in American Electric Power by 28.6% in the 4th quarter. Focus Partners Wealth now owns 43,778 shares of the company's stock worth $4,216,000 after buying an additional 9,740 shares during the period. Institutional investors and hedge funds own 75.24% of the company's stock.

Wall Street Analysts Forecast Growth

AEP has been the topic of a number of analyst reports. Jefferies Financial Group dropped their price objective on shares of American Electric Power from $120.00 to $116.00 and set a "hold" rating on the stock in a research note on Thursday. Raymond James Financial reaffirmed 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. Mizuho set a $116.00 target price on shares of American Electric Power and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Morgan Stanley reiterated an "overweight" rating on shares of American Electric Power in a report on Thursday, August 21st. Finally, UBS Group boosted their price objective on shares of American Electric Power from $100.00 to $110.00 and gave the company a "sell" rating in a report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $111.93.

Insider Buying and Selling at American Electric Power

In other news, EVP David Matthew Feinberg sold 8,058 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total value of $819,820.92. Following the completion of the sale, the executive vice president directly owned 10,274 shares of the company's stock, valued at approximately $1,045,276.76. This represents a 43.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.07% of the company's stock.

American Electric Power Stock Up 0.7%

Shares of AEP stock traded up $0.72 during trading hours on Friday, reaching $109.46. 2,180,621 shares of the stock were exchanged, compared to its average volume of 2,867,824. The business's fifty day moving average is $110.03 and its two-hundred day moving average is $106.27. 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 firm has a market capitalization of $58.54 billion, a P/E ratio of 16.00, a P/E/G ratio of 2.90 and a beta of 0.46. American Electric Power Company, Inc. has a 12-month low of $89.91 and a 12-month high of $115.36.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.16. The firm had revenue of $5.09 billion during 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% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 earnings per share. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. As a group, research analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, August 8th. American Electric Power's dividend payout ratio is presently 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.