Ascent Group LLC Purchases 2,766 Shares of American Electric Power Company, Inc. $AEP

Key Points

• Ascent Group LLC increased its stake in American Electric Power Company by 9.9%, owning 30,655 shares valued at $3,350,000 as of its latest SEC filing.
• American Electric Power is currently rated as a "Hold" by analysts, with an average price target of $111.29.
• The company announced a quarterly dividend of $0.93 per share, reflecting a 3.5% yield and a payout ratio of 54.39%.

Ascent Group LLC lifted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 9.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,655 shares of the company's stock after purchasing an additional 2,766 shares during the quarter. Ascent Group LLC's holdings in American Electric Power were worth $3,350,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. EQ Wealth Advisors LLC bought a new stake in American Electric Power during the 1st quarter worth about $25,000. Fourth Dimension Wealth LLC bought a new stake in American Electric Power during the fourth quarter worth about $28,000. Bank of New Hampshire acquired a new position in American Electric Power during the first quarter valued at approximately $28,000. MJT & Associates Financial Advisory Group Inc. bought a new position in American Electric Power in the first quarter valued at approximately $33,000. Finally, IMA Advisory Services Inc. acquired 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.

American Electric Power Price Performance

Shares of AEP traded up $0.72 during mid-day trading on Friday, reaching $109.46. The company had a trading volume of 2,180,621 shares, compared to its average volume of 2,867,824. The company has a market capitalization of $58.54 billion, a price-to-earnings ratio of 16.00, a P/E/G ratio of 2.90 and a beta of 0.46. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55. The company's 50 day simple moving average is $110.03 and its 200 day simple moving average is $106.27. American Electric Power Company, Inc. has a 1-year low of $89.91 and a 1-year high of $115.36.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.16. The business had revenue of $5.09 billion during the quarter, compared to analysts' expectations of $4.85 billion. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. 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 earned $1.25 EPS. 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 year.

American Electric Power Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Friday, August 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.4%. American Electric Power's dividend payout ratio (DPR) is 54.39%.

Insiders Place Their Bets

In related news, EVP David Matthew Feinberg sold 8,058 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total value of $819,820.92. Following the completion of the transaction, the executive vice president owned 10,274 shares in the company, valued at $1,045,276.76. This trade represents a 43.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.07% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on AEP. Morgan Stanley reissued an "overweight" rating on shares of American Electric Power in a research note on Thursday, August 21st. Mizuho set a $116.00 price objective on shares of American Electric Power and gave the company a "neutral" rating in a research report on Thursday, July 31st. Scotiabank boosted their price objective on shares of American Electric Power from $102.00 to $114.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Barclays raised their target price on shares of American Electric Power from $105.00 to $111.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Finally, Jefferies Financial Group lowered their price target on American Electric Power from $120.00 to $116.00 and set a "hold" rating on the stock in a research report on Thursday. Five equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, American Electric Power has an average rating of "Hold" and a consensus price target of $111.93.

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.