Cape ANN Savings Bank Acquires 6,600 Shares of American Electric Power Company, Inc. $AEP

Key Points

• Cape ANN Savings Bank increased its stake in American Electric Power by 245.2% in the second quarter, acquiring an additional 6,600 shares, bringing its total holdings to 9,292 shares valued at approximately $964,000.
• Several analysts have recently adjusted their target prices for American Electric Power, with a consensus price target of $111.63 and a consensus rating of "Hold".
• American Electric Power announced a quarterly dividend of $0.93 per share, representing an annualized yield of 3.3% and a payout ratio of 54.39%.

Cape ANN Savings Bank boosted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 245.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,292 shares of the company's stock after acquiring an additional 6,600 shares during the quarter. Cape ANN Savings Bank's holdings in American Electric Power were worth $964,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake 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 acquiring an additional 1,095 shares in the last quarter. Merit Financial Group LLC lifted its position in shares of American Electric Power by 17.8% during the first quarter. Merit Financial Group LLC now owns 16,152 shares of the company's stock valued at $1,765,000 after purchasing an additional 2,438 shares in the last quarter. RFG Advisory LLC lifted its position in shares of American Electric Power by 7.8% during the first quarter. RFG Advisory LLC now owns 4,226 shares of the company's stock valued at $462,000 after purchasing an additional 307 shares in the last quarter. Charles Schwab Trust Co bought a new position in shares of American Electric Power during the first quarter valued at about $283,000. Finally, Armstrong Fleming & Moore Inc bought a new position in shares of American Electric Power during the 1st quarter worth approximately $1,084,000. Institutional investors own 75.24% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on AEP. Morgan Stanley dropped their target price on shares of American Electric Power from $117.00 to $115.00 and set an "overweight" rating on the stock in a research report on Thursday, September 25th. Raymond James Financial reiterated an "outperform" rating and set a $122.00 price target (up from $115.00) on shares of American Electric Power in a report on Thursday, July 31st. Mizuho dropped their price objective on American Electric Power from $116.00 to $113.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 16th. LADENBURG THALM/SH SH lowered their target price on American Electric Power from $112.00 to $108.50 and set a "neutral" rating on the stock in a research note on Wednesday, September 10th. Finally, Jefferies Financial Group dropped 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, September 11th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, American Electric Power presently has a consensus rating of "Hold" and a consensus price target of $111.63.

American Electric Power Stock Performance

Shares of AEP opened at $114.06 on Friday. American Electric Power Company, Inc. has a 52-week low of $89.91 and a 52-week high of $115.36. The stock's 50-day simple moving average is $110.87 and its 200 day simple moving average is $106.70. 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 stock has a market capitalization of $61.00 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 3.00 and a beta of 0.48.

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 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 for the quarter, compared to analysts' expectations of $4.85 billion. During the same period in the prior year, the business posted $1.25 earnings per share. The company'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. Research analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were given a dividend of $0.93 per share. The ex-dividend date was 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%.

Insider Buying and Selling

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of the company's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $108.65, for a total value of $543,250.00. Following the completion of the transaction, the director directly owned 40,898 shares in the company, valued at approximately $4,443,567.70. The trade was a 10.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kelly J. Ferneau sold 1,006 shares of American Electric Power stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $112.00, for a total value of $112,672.00. Following the sale, the executive vice president directly owned 5,676 shares of the company's stock, valued at approximately $635,712. This trade represents a 15.06% decrease in their position. The disclosure for this sale can be found here. 0.07% of the stock is owned by insiders.

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.

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