Gabelli Funds LLC Decreases Stock Position in American Electric Power Company, Inc. $AEP

Key Points

• Gabelli Funds LLC has decreased its holdings in American Electric Power Company by 3.7%, selling 24,000 shares and reducing ownership to 628,350 shares valued at approximately $68.66 million.
• American Electric Power recently reported earnings of $1.43 per share for the last quarter, exceeding estimates and experiencing an 11.1% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.93 per share, resulting in an annualized yield of 3.3% and a payout ratio of 54.39%.

Gabelli Funds LLC reduced its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 3.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 628,350 shares of the company's stock after selling 24,000 shares during the period. Gabelli Funds LLC owned 0.12% of American Electric Power worth $68,660,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AEP. Ceredex Value Advisors LLC purchased a new stake in American Electric Power in the 1st quarter valued at $25,990,000. PKS Advisory Services LLC purchased a new position in American Electric Power during the 1st quarter worth $211,000. Apexium Financial LP acquired a new position in American Electric Power in the first quarter valued at $207,000. Comerica Bank raised its holdings in shares of American Electric Power by 0.7% in the first quarter. Comerica Bank now owns 169,448 shares of the company's stock valued at $18,516,000 after buying an additional 1,145 shares during the last quarter. Finally, Synovus Financial Corp raised its holdings in shares of American Electric Power by 37.1% in the first quarter. Synovus Financial Corp now owns 19,440 shares of the company's stock valued at $2,125,000 after buying an additional 5,263 shares during the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Price Performance

American Electric Power stock traded down $1.11 during midday trading on Thursday, reaching $111.78. The company's stock had a trading volume of 3,697,314 shares, compared to its average volume of 3,371,490. The firm has a market capitalization of $59.78 billion, a PE ratio of 16.34, a P/E/G ratio of 2.99 and a beta of 0.40. American Electric Power Company, Inc. has a fifty-two week low of $89.91 and a fifty-two week high of $115.36. The stock's 50 day simple moving average is $108.66 and its 200 day simple moving average is $105.83. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly 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. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.85 billion. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The business's revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.25 EPS. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. On average, equities research analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Morgan Stanley reissued an "overweight" rating on shares of American Electric Power in a report on Thursday, August 21st. Guggenheim increased their price objective on American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. 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. Barclays upped their price target on American Electric Power from $105.00 to $111.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Finally, Citigroup increased their price target on American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Five investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, American Electric Power presently has a consensus rating of "Hold" and an average target price of $111.29.

Insider Buying and Selling at American Electric Power

In related news, EVP David Matthew Feinberg sold 8,058 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president owned 10,274 shares in the company, valued at $1,045,276.76. This represents a 43.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 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 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.