USS Investment Management Ltd Reduces Stake in American Electric Power Company, Inc. $AEP

Key Points

• USS Investment Management Ltd reduced its holdings in American Electric Power by 43.6%, selling 55,700 shares, which left them with 72,116 shares worth approximately $7.88 million.
• The company reported earnings of $1.43 per share for the last quarter, surpassing analysts' estimates, and its revenue rose by 11.1% compared to the previous year.
• American Electric Power announced a quarterly dividend of $0.93 per share, reflecting a 3.4% yield, with an upcoming payment date of September 10th.

USS Investment Management Ltd cut its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 43.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,116 shares of the company's stock after selling 55,700 shares during the quarter. USS Investment Management Ltd's holdings in American Electric Power were worth $7,879,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of AEP. EQ Wealth Advisors LLC bought a new stake in American Electric Power in the first quarter worth $25,000. Fourth Dimension Wealth LLC bought a new stake in shares of American Electric Power during the fourth quarter worth $28,000. Bank of New Hampshire bought a new stake in shares of American Electric Power during the first quarter worth $28,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of American Electric Power during the first quarter worth $33,000. Finally, IMA Advisory Services Inc. bought a new stake in shares of American Electric Power during the first quarter worth $35,000. 75.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Mizuho set a $116.00 target price on American Electric Power and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Jefferies Financial Group decreased 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. Raymond James Financial reiterated an "outperform" rating and set a $122.00 target price (up from $115.00) on shares of American Electric Power in a research report on Thursday, July 31st. Morgan Stanley reiterated an "overweight" rating on shares of American Electric Power in a research report on Thursday, August 21st. Finally, Barclays lifted their target price on American Electric Power from $105.00 to $111.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $111.93.

Insider Buying and Selling

In related news, EVP David Matthew Feinberg sold 8,058 shares of the company's 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 sale, the executive vice president owned 10,274 shares in the company, valued at $1,045,276.76. This represents a 43.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is currently owned by corporate insiders.

American Electric Power Stock Up 0.6%

NASDAQ AEP traded up $0.63 during trading on Friday, hitting $109.37. The company's stock had a trading volume of 1,011,501 shares, compared to its average volume of 3,517,808. 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 Company, Inc. has a fifty-two week low of $89.91 and a fifty-two week high of $115.36. The company has a market cap of $58.49 billion, a PE ratio of 15.98, a P/E/G ratio of 2.87 and a beta of 0.46. The business's 50 day simple moving average is $109.91 and its 200-day simple moving average is $106.25.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.16. The firm had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.85 billion. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%.American Electric Power's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 earnings per share. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. On average, equities analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were given a $0.93 dividend. The ex-dividend date was Friday, August 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.4%. American Electric Power's dividend payout ratio is currently 54.39%.

American Electric Power Company 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.