American Electric Power Company, Inc. $AEP Shares Sold by State of Alaska Department of Revenue

Key Points

• The State of Alaska Department of Revenue reduced its stake in American Electric Power Company by 4.0%, owning 59,960 shares valued at approximately $6.22 million after selling 2,515 shares in the second quarter.
• Insider Director Benjamin G. S. Fowke III sold 5,000 shares for a total of $543,250, decreasing his ownership by nearly 10.89% to 40,898 shares.
• American Electric Power announced a quarterly dividend of $0.93 per share, which equates to an annualized dividend of $3.72, representing a dividend yield of 3.4%.

State of Alaska Department of Revenue cut its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 4.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 59,960 shares of the company's stock after selling 2,515 shares during the quarter. State of Alaska Department of Revenue's holdings in American Electric Power were worth $6,221,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Patton Fund Management Inc. acquired a new stake in American Electric Power in the 2nd quarter valued at about $214,000. ST Germain D J Co. Inc. lifted its holdings in American Electric Power by 7.8% in the 2nd quarter. ST Germain D J Co. Inc. now owns 5,255 shares of the company's stock valued at $545,000 after purchasing an additional 381 shares in the last quarter. Beaumont Financial Advisors LLC lifted its holdings in shares of American Electric Power by 0.7% during the 2nd quarter. Beaumont Financial Advisors LLC now owns 58,881 shares of the company's stock worth $6,109,000 after acquiring an additional 435 shares during the period. LS Investment Advisors LLC lifted its holdings in shares of American Electric Power by 8.0% during the 2nd quarter. LS Investment Advisors LLC now owns 16,640 shares of the company's stock worth $1,727,000 after acquiring an additional 1,230 shares during the period. Finally, Randolph Co Inc lifted its holdings in shares of American Electric Power by 295.5% during the 2nd quarter. Randolph Co Inc now owns 141,100 shares of the company's stock worth $14,640,000 after acquiring an additional 105,420 shares during the period. 75.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at American Electric Power

In other news, 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 completion of the sale, the director owned 40,898 shares of the company's stock, valued at approximately $4,443,567.70. This trade represents a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a 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 1.2%

AEP stock opened at $109.14 on Monday. American Electric Power Company, Inc. has a twelve month low of $89.91 and a twelve month high of $115.36. 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 company has a market capitalization of $58.37 billion, a P/E ratio of 15.96, a PEG ratio of 2.89 and a beta of 0.46. The firm has a 50 day simple moving average of $110.54 and a 200-day simple moving average of $106.48.

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, topping analysts' consensus estimates of $1.27 by $0.16. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter last year, the company earned $1.25 earnings per share. The business's quarterly revenue was up 11.1% compared to the same quarter last year. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. On average, equities research analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AEP shares. UBS Group increased their target price on shares of American Electric Power from $100.00 to $110.00 and gave the stock a "sell" rating in a research report on Thursday, July 31st. Scotiabank increased their target price on shares of 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. Raymond James Financial reissued an "outperform" rating and set a $122.00 target price (up previously from $115.00) on shares of American Electric Power in a research report on Thursday, July 31st. Jefferies Financial Group lowered their price objective on shares of 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. Finally, LADENBURG THALM/SH SH lowered their price objective on shares of 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. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $111.63.

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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