DekaBank Deutsche Girozentrale Purchases 3,602 Shares of American Electric Power Company, Inc. $AEP

DekaBank Deutsche Girozentrale grew its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 131,773 shares of the company's stock after purchasing an additional 3,602 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in American Electric Power were worth $13,551,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Eagle Strategies LLC raised its holdings in American Electric Power by 1.7% during the 2nd quarter. Eagle Strategies LLC now owns 5,515 shares of the company's stock worth $572,000 after purchasing an additional 94 shares during the last quarter. McIlrath & Eck LLC increased its holdings in American Electric Power by 3.2% in the first quarter. McIlrath & Eck LLC now owns 3,147 shares of the company's stock worth $344,000 after purchasing an additional 99 shares in the last quarter. Personal CFO Solutions LLC increased its holdings in American Electric Power by 3.2% in the first quarter. Personal CFO Solutions LLC now owns 3,369 shares of the company's stock worth $368,000 after purchasing an additional 103 shares in the last quarter. McGlone Suttner Wealth Management Inc. increased its holdings in American Electric Power by 1.8% in the second quarter. McGlone Suttner Wealth Management Inc. now owns 5,898 shares of the company's stock worth $612,000 after purchasing an additional 104 shares in the last quarter. Finally, Strategic Blueprint LLC increased its holdings in American Electric Power by 0.4% in the first quarter. Strategic Blueprint LLC now owns 24,552 shares of the company's stock worth $2,683,000 after purchasing an additional 108 shares in the last quarter. Institutional investors own 75.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AEP. Morgan Stanley lifted their target price on American Electric Power from $115.00 to $123.00 and gave the stock an "overweight" rating in a report on Wednesday. Jefferies Financial Group lifted their target price on American Electric Power from $116.00 to $128.00 and gave the stock a "hold" rating in a report on Thursday, October 16th. LADENBURG THALM/SH SH lowered their target price on American Electric Power from $112.00 to $108.50 and set a "neutral" rating for the company in a report on Wednesday, September 10th. BTIG Research began coverage on American Electric Power in a report on Tuesday. They issued a "neutral" rating for the company. Finally, Cowen began coverage on American Electric Power in a report on Wednesday, October 15th. They issued a "buy" rating for the company. Ten analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $119.74.

American Electric Power Trading Down 0.9%

NASDAQ AEP opened at $116.18 on Friday. The company has a market cap of $62.13 billion, a price-to-earnings ratio of 16.99, a P/E/G ratio of 3.10 and a beta of 0.48. American Electric Power Company, Inc. has a 52 week low of $89.91 and a 52 week high of $120.46. The business has a 50 day moving average price of $112.23 and a 200-day moving average price of $107.82. 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 EPS for the quarter, beating the consensus estimate of $1.27 by $0.16. The firm had revenue of $5.09 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 earnings per share. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. As a group, equities analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Monday, November 10th. This is a positive change from American Electric Power's previous quarterly dividend of $0.93. This represents a $3.80 annualized dividend and a dividend yield of 3.3%. American Electric Power's payout ratio is presently 54.39%.

Insider Activity at American Electric Power

In related news, EVP Kelly J. Ferneau sold 1,006 shares of American Electric Power stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $112.00, for a total transaction of $112,672.00. Following the transaction, the executive vice president owned 5,676 shares of the company's stock, valued at $635,712. The trade was a 15.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of American Electric Power stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,006 shares of company stock worth $1,243,522. 0.07% of the stock is owned by insiders.

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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