Gateway Investment Advisers LLC Sells 20,691 Shares of American Electric Power Company, Inc. $AEP

Key Points

• Gateway Investment Advisers LLC reduced its holdings in American Electric Power by 5.3%, now owning 368,526 shares valued at approximately $38.24 million after selling 20,691 shares.
• American Electric Power recently announced a quarterly dividend of $0.93 per share, resulting in an annualized dividend of $3.72 and a yield of 3.5%.
• The stock's price target from various analysts has seen adjustments, with Raymond James Financial raising their target to $122.00, while LADENBURG THALM/SH SH lowered theirs to $108.50.

Gateway Investment Advisers LLC cut its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 5.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 368,526 shares of the company's stock after selling 20,691 shares during the period. Gateway Investment Advisers LLC owned 0.07% of American Electric Power worth $38,238,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Clarius Group LLC boosted its holdings in American Electric Power by 2.5% in the 1st quarter. Clarius Group LLC now owns 3,966 shares of the company's stock valued at $433,000 after purchasing an additional 95 shares during the period. McIlrath & Eck LLC lifted its holdings in shares of American Electric Power by 3.2% during the 1st quarter. McIlrath & Eck LLC now owns 3,147 shares of the company's stock worth $344,000 after acquiring an additional 99 shares during the last quarter. Marcum Wealth LLC lifted its holdings in shares of American Electric Power by 3.0% during the 1st quarter. Marcum Wealth LLC now owns 3,468 shares of the company's stock worth $379,000 after acquiring an additional 101 shares during the last quarter. Ascent Group LLC lifted its holdings in shares of American Electric Power by 0.4% during the 4th quarter. Ascent Group LLC now owns 27,889 shares of the company's stock worth $2,572,000 after acquiring an additional 102 shares during the last quarter. Finally, Personal CFO Solutions LLC lifted its holdings in shares of American Electric Power by 3.2% during the 1st quarter. Personal CFO Solutions LLC now owns 3,369 shares of the company's stock worth $368,000 after acquiring an additional 103 shares during the last quarter. 75.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on AEP shares. Scotiabank lifted their price objective on shares of American Electric Power from $102.00 to $114.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Raymond James Financial reiterated an "outperform" rating and issued a $122.00 target price (up previously from $115.00) on shares of American Electric Power in a research report on Thursday, July 31st. UBS Group lifted their target price on shares of American Electric Power from $100.00 to $110.00 and gave the stock a "sell" rating in a research report on Thursday, July 31st. Morgan Stanley restated an "overweight" rating on shares of American Electric Power in a research report on Thursday, August 21st. Finally, LADENBURG THALM/SH SH cut their target price on shares of American Electric Power from $112.00 to $108.50 and set a "neutral" rating on the stock in a research note on Wednesday, September 10th. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $111.50.

American Electric Power Price Performance

NASDAQ:AEP traded up $0.62 during trading hours on Friday, hitting $107.06. 5,846,040 shares of the stock traded hands, compared to its average volume of 2,856,833. 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 company has a market cap of $57.25 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 2.82 and a beta of 0.46. The stock has a 50 day moving average price of $110.29 and a 200 day moving average price of $106.31.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, beating 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 the consensus estimate of $4.85 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The company'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. Sell-side analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were given a dividend of $0.93 per share. The ex-dividend date was Friday, August 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.5%. American Electric Power's dividend payout ratio (DPR) is presently 54.39%.

Insider Activity

In other news, 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 transaction of $543,250.00. Following the sale, the director owned 40,898 shares in the company, valued at $4,443,567.70. This trade represents a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.07% of the stock is currently owned by insiders.

American Electric Power Company 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.