Ethos Financial Group LLC Purchases Shares of 14,521 American Electric Power Company, Inc. $AEP

Key Points

• Ethos Financial Group LLC acquired 14,521 shares of American Electric Power Company, Inc. (NASDAQ:AEP) valued at approximately $1.587 million during the first quarter of 2023.
• AEP announced a quarterly dividend of $0.93 per share, representing a 3.3% yield, with the dividend payment scheduled for September 10th.
• AEP reported a 12-month revenue increase of 11.1% year-over-year, with quarterly earnings per share exceeding analysts' expectations at $1.43.

Ethos Financial Group LLC acquired a new position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,521 shares of the company's stock, valued at approximately $1,587,000.

Other institutional investors have also recently modified their holdings of the company. Clarius Group LLC raised its position in American Electric Power by 2.5% in the 1st quarter. Clarius Group LLC now owns 3,966 shares of the company's stock worth $433,000 after purchasing an additional 95 shares during the period. Safeguard Investment Advisory Group LLC raised its holdings in shares of American Electric Power by 4.3% in the fourth quarter. Safeguard Investment Advisory Group LLC now owns 2,414 shares of the company's stock worth $223,000 after buying an additional 100 shares during the period. Marcum Wealth LLC raised its holdings in shares of American Electric Power by 3.0% in the first quarter. Marcum Wealth LLC now owns 3,468 shares of the company's stock worth $379,000 after buying an additional 101 shares during the period. Ascent Group LLC raised its holdings in shares of American Electric Power by 0.4% in the fourth quarter. Ascent Group LLC now owns 27,889 shares of the company's stock worth $2,572,000 after buying an additional 102 shares during the period. Finally, Dark Forest Capital Management LP raised its holdings in shares of American Electric Power by 2.3% in the fourth quarter. Dark Forest Capital Management LP now owns 4,537 shares of the company's stock worth $418,000 after buying an additional 103 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on AEP shares. Morgan Stanley reduced their target price on American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. Wells Fargo & Company raised their price target on shares of American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Mizuho set a $116.00 price objective on American Electric Power and gave the stock a "neutral" rating in a report on Thursday, July 31st. Citigroup raised their price target on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, Raymond James Financial restated an "outperform" rating and set a $122.00 price target (up previously from $115.00) on shares of American Electric Power in a research note 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $111.29.

Insider Buying and Selling at American Electric Power

In other news, EVP David Matthew Feinberg sold 8,058 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total transaction of $819,820.92. Following the sale, the executive vice president owned 10,274 shares in the company, valued at approximately $1,045,276.76. The trade was a 43.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 24,173 shares of company stock worth $2,467,015 in the last 90 days. 0.07% of the stock is currently owned by insiders.

American Electric Power Stock Down 0.4%

Shares of American Electric Power stock traded down $0.41 on Thursday, reaching $113.14. The stock had a trading volume of 3,112,104 shares, compared to its average volume of 3,571,190. The company has a 50 day moving average price of $107.35 and a 200 day moving average price of $105.28. 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 Company, Inc. has a 1 year low of $89.91 and a 1 year high of $115.36. The stock has a market capitalization of $60.51 billion, a P/E ratio of 16.54, a P/E/G ratio of 2.99 and a beta of 0.40.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.16. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period in the previous year, the company earned $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, equities research analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

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

American Electric Power 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.