Brooklyn Investment Group Acquires 2,480 Shares of American Electric Power Company, Inc. $AEP

Key Points

• Brooklyn Investment Group has significantly increased its stake in American Electric Power by 71.1% in the first quarter, now owning 5,970 shares worth approximately $652,000.
• AEP reported an earnings per share (EPS) of $1.43, exceeding the estimated $1.27 and showcasing a 11.1% revenue increase compared to the previous year.
• The company announced a quarterly dividend of $0.93 per share, which translates to an annualized dividend of $3.72 and a yield of 3.4%.

Brooklyn Investment Group increased its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 71.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,970 shares of the company's stock after buying an additional 2,480 shares during the quarter. Brooklyn Investment Group's holdings in American Electric Power were worth $652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in AEP. Brighton Jones LLC increased its position in American Electric Power by 11.5% during the 4th quarter. Brighton Jones LLC now owns 10,601 shares of the company's stock valued at $978,000 after purchasing an additional 1,095 shares during the period. NewEdge Advisors LLC increased its position in American Electric Power by 9.9% during the 4th quarter. NewEdge Advisors LLC now owns 28,628 shares of the company's stock valued at $2,640,000 after purchasing an additional 2,588 shares during the period. Dimensional Fund Advisors LP increased its position in American Electric Power by 6.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,615,930 shares of the company's stock valued at $149,035,000 after purchasing an additional 91,244 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in American Electric Power during the 4th quarter valued at approximately $2,025,000. Finally, MetLife Investment Management LLC increased its position in American Electric Power by 1.9% during the 4th quarter. MetLife Investment Management LLC now owns 140,865 shares of the company's stock valued at $12,992,000 after purchasing an additional 2,586 shares during the period. Institutional investors and hedge funds own 75.24% of the company's stock.

American Electric Power Price Performance

AEP traded up $0.88 during midday trading on Friday, hitting $114.02. The stock had a trading volume of 2,389,022 shares, compared to its average volume of 3,563,831. The company has a market cap of $60.98 billion, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 3.01 and a beta of 0.40. The business has a fifty day moving average of $107.55 and a 200 day moving average of $105.38. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55. 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 announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.16. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%.The firm had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the previous year, the company posted $1.25 earnings per share. The business's revenue was up 11.1% on a year-over-year basis. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. As a group, equities analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be given a $0.93 dividend. The ex-dividend date is Friday, August 8th. This represents a $3.72 annualized dividend and a yield of 3.3%. American Electric Power's payout ratio is presently 54.39%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Mizuho set a $116.00 target price on shares of American Electric Power and gave the company a "neutral" rating in a research report on Thursday, July 31st. Wells Fargo & Company upped their price objective on shares of American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Raymond James Financial restated an "outperform" rating and set a $122.00 price objective (up from $115.00) on shares of American Electric Power in a research note on Thursday, July 31st. Morgan Stanley dropped their price objective on American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. Finally, Scotiabank lifted their target price on 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. Five investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $111.29.

Insiders Place Their Bets

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of the business'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 completion of the sale, the executive vice president owned 10,274 shares in the company, valued at approximately $1,045,276.76. The trade was a 43.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 24,173 shares of company stock valued at $2,467,015 in the last ninety days. Insiders own 0.07% of the company's stock.

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.