Concord Asset Management LLC VA purchased a new stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,212 shares of the company's stock, valued at approximately $333,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in shares of American Electric Power during the first quarter worth approximately $568,042,000. GQG Partners LLC increased its position in American Electric Power by 30.4% during the first quarter. GQG Partners LLC now owns 19,631,466 shares of the company's stock worth $2,145,130,000 after acquiring an additional 4,570,941 shares during the period. Wellington Management Group LLP increased its position in American Electric Power by 24.3% during the first quarter. Wellington Management Group LLP now owns 22,102,537 shares of the company's stock worth $2,415,144,000 after acquiring an additional 4,323,569 shares during the period. Bessemer Group Inc. increased its position in American Electric Power by 4,567.3% during the first quarter. Bessemer Group Inc. now owns 1,764,677 shares of the company's stock worth $192,827,000 after acquiring an additional 1,726,868 shares during the period. Finally, Ghisallo Capital Management LLC acquired a new stake in American Electric Power in the 1st quarter worth $153,524,000. Institutional investors own 75.24% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on the stock. Raymond James Financial restated an "outperform" rating and issued a $122.00 price target (up from $115.00) on shares of American Electric Power in a research report on Thursday, July 31st. LADENBURG THALM/SH SH reduced their target price on shares of American Electric Power from $112.00 to $108.50 and set a "neutral" rating for the company in a research note on Wednesday, September 10th. Jefferies Financial Group cut their price target on American Electric Power from $120.00 to $116.00 and set a "hold" rating for the company in a report on Thursday, September 11th. Morgan Stanley lowered their price objective on 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. Finally, Mizuho lowered their price objective on American Electric Power from $116.00 to $113.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 16th. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $114.50.
Get Our Latest Stock Analysis on American Electric Power
American Electric Power Stock Performance
NASDAQ:AEP opened at $116.80 on Tuesday. American Electric Power Company, Inc. has a 12-month low of $89.91 and a 12-month high of $119.06. The firm has a market capitalization of $62.46 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 3.09 and a beta of 0.48. The firm has a 50-day moving average price of $111.48 and a 200 day moving average price of $107.23. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33.
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 for the quarter, beating the consensus estimate of $1.27 by $0.16. The company 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%.The company's revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 EPS. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. Research analysts anticipate 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 was paid on Wednesday, September 10th. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.2%. American Electric Power's dividend payout ratio (DPR) is presently 54.39%.
Insiders Place Their Bets
In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction dated 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 in the company, valued at $4,443,567.70. This trade represents a 10.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kelly J. Ferneau sold 1,006 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $112.00, for a total transaction of $112,672.00. Following the sale, the executive vice president owned 5,676 shares of the company's stock, valued at $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 currently owned by company insiders.
American Electric Power Company Profile
(
Free Report)
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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