DAVENPORT & Co LLC Has $6.42 Million Stock Position in American Electric Power Company, Inc. $AEP

Key Points

• DAVENPORT & Co LLC increased its stake in American Electric Power Company to 61,889 shares, valued at approximately $6.42 million, marking a 4.2% rise in the second quarter.
• The company's stock has experienced a 12-month low of $89.91 and a high of $119.06, while analysts maintain a consensus rating of "Hold" with a target price of $114.10.
• American Electric Power reported earnings of $1.43 per share for the last quarter, exceeding estimates, along with a quarterly dividend of $0.93, yielding 3.1% annually.

DAVENPORT & Co LLC lifted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 4.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,889 shares of the company's stock after buying an additional 2,475 shares during the quarter. DAVENPORT & Co LLC's holdings in American Electric Power were worth $6,422,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of AEP. Brighton Jones LLC lifted its holdings in shares of American Electric Power by 11.5% during the fourth quarter. Brighton Jones LLC now owns 10,601 shares of the company's stock worth $978,000 after buying an additional 1,095 shares in the last quarter. Wedmont Private Capital lifted its holdings in shares of American Electric Power by 8.1% during the first quarter. Wedmont Private Capital now owns 6,665 shares of the company's stock worth $697,000 after buying an additional 500 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of American Electric Power during the first quarter worth $239,000. Park Avenue Securities LLC lifted its holdings in shares of American Electric Power by 9.9% during the first quarter. Park Avenue Securities LLC now owns 32,867 shares of the company's stock worth $3,591,000 after buying an additional 2,972 shares in the last quarter. Finally, Portside Wealth Group LLC lifted its holdings in shares of American Electric Power by 14.1% during the first quarter. Portside Wealth Group LLC now owns 8,046 shares of the company's stock worth $879,000 after buying an additional 992 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reissued a "buy (b)" rating on shares of American Electric Power in a report on Saturday, September 27th. Mizuho dropped their price target on American Electric Power from $116.00 to $113.00 and set a "neutral" rating for the company in a research note on Tuesday, September 16th. Jefferies Financial Group dropped their price target on American Electric Power from $120.00 to $116.00 and set a "hold" rating for the company in a research note on Thursday, September 11th. Evercore ISI assumed coverage on American Electric Power in a research note on Monday. They issued an "outperform" rating and a $133.00 price target for the company. Finally, LADENBURG THALM/SH SH dropped their price target on 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. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $114.10.

American Electric Power Stock Performance

American Electric Power stock opened at $118.16 on Wednesday. American Electric Power Company, Inc. has a 12-month low of $89.91 and a 12-month high of $119.06. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. The business's 50-day moving average price is $111.20 and its two-hundred day moving average price is $106.86. The stock has a market cap of $63.19 billion, a PE ratio of 17.27, a P/E/G ratio of 3.06 and a beta of 0.48.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarter in the previous year, the business posted $1.25 earnings per share. The business's revenue for the quarter 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, analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, August 8th. American Electric Power's payout ratio is currently 54.39%.

Insider Activity

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of the business's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $108.65, for a total transaction of $543,250.00. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kelly J. Ferneau sold 1,006 shares of the business's 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 owned 5,676 shares in the company, valued at approximately $635,712. This trade represents a 15.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.

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