Corient IA LLC Acquires Shares of 3,500 American Electric Power Company, Inc. $AEP

Key Points

• Corient IA LLC has acquired 3,500 shares of American Electric Power Company, valued at approximately $382,000, as part of its 1st quarter investments.
• Several hedge funds, including Nuveen LLC and GAMMA Investing LLC, have significantly increased their stakes in AEP, contributing to institutional investors owning about 75.24% of the stock.
• AEP recently reported an earnings per share (EPS) of $1.43 for the last quarter, exceeding estimates, and declared a quarterly dividend of $0.93, showcasing strong financial performance.

Corient IA LLC acquired a new stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,500 shares of the company's stock, valued at approximately $382,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC lifted its position in American Electric Power by 14.8% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,331 shares of the company's stock valued at $364,000 after acquiring an additional 430 shares in the last quarter. Ritholtz Wealth Management bought a new position in American Electric Power in the 1st quarter valued at approximately $262,000. Robertson Stephens Wealth Management LLC bought a new position in American Electric Power in the 1st quarter valued at approximately $205,000. GAMMA Investing LLC lifted its position in American Electric Power by 24.5% in the 1st quarter. GAMMA Investing LLC now owns 19,678 shares of the company's stock valued at $2,150,000 after acquiring an additional 3,867 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in American Electric Power by 26.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 355,516 shares of the company's stock valued at $38,848,000 after acquiring an additional 73,488 shares in the last quarter. 75.24% of the stock is owned by institutional investors.

Insider Transactions at American Electric Power

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of the stock in a transaction 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. This represents a 43.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 24,173 shares of company stock valued at $2,467,015. Corporate insiders own 0.07% of the company's stock.

American Electric Power Stock Performance

Shares of NASDAQ:AEP traded up $0.88 during midday trading on Friday, hitting $114.02. The company had a trading volume of 2,358,050 shares, compared to its average volume of 3,558,101. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.41. The company has a market cap of $60.98 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 3.01 and a beta of 0.40. American Electric Power Company, Inc. has a 12-month low of $89.91 and a 12-month high of $115.36. The company has a fifty day moving average of $107.55 and a two-hundred day moving average of $105.38.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.27 by $0.16. The firm had revenue of $5.09 billion during 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 was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 EPS. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. On average, equities research analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

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

Analysts Set New Price Targets

AEP has been the topic of several analyst reports. Barclays upped their price objective on American Electric Power from $105.00 to $111.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Scotiabank raised their price target 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. Citigroup upped their price objective on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. UBS Group increased their target price on American Electric Power from $100.00 to $110.00 and gave the company a "sell" rating in a report on Thursday, July 31st. Finally, Mizuho set a $116.00 target price on American Electric Power and gave the company a "neutral" rating in a report on Thursday, July 31st. Five equities research 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's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $111.29.

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.