Global Assets Advisory LLC Sells 2,689 Shares of American Electric Power Company, Inc. $AEP

Key Points

• Global Assets Advisory LLC reduced its stake in American Electric Power by 50.1%, selling 2,689 shares, leaving them with 2,679 shares valued at $280,000.
• The company reported a quarterly EPS of $1.43, surpassing analysts' expectations of $1.27, with a revenue of $5.09 billion, indicating an 11.1% year-over-year increase.
• American Electric Power announced a quarterly dividend of $0.93 per share, with a yield of 3.2% and a payout ratio of 54.39%.

Global Assets Advisory LLC lessened its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 50.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,679 shares of the company's stock after selling 2,689 shares during the period. Global Assets Advisory LLC's holdings in American Electric Power were worth $280,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Merit Financial Group LLC lifted its stake in American Electric Power by 211.4% in the 2nd quarter. Merit Financial Group LLC now owns 50,295 shares of the company's stock valued at $5,219,000 after purchasing an additional 34,143 shares during the last quarter. Beacon Financial Advisory LLC raised its stake in American Electric Power by 5.3% in the second quarter. Beacon Financial Advisory LLC now owns 10,476 shares of the company's stock valued at $1,087,000 after buying an additional 531 shares during the period. Simplicity Wealth LLC lifted its position in shares of American Electric Power by 267.8% in the second quarter. Simplicity Wealth LLC now owns 7,186 shares of the company's stock valued at $746,000 after buying an additional 5,232 shares during the last quarter. OLD National Bancorp IN bought a new position in shares of American Electric Power during the 2nd quarter worth approximately $279,000. Finally, Capital City Trust Co. FL increased its holdings in shares of American Electric Power by 1.4% during the 2nd quarter. Capital City Trust Co. FL now owns 39,713 shares of the company's stock worth $4,121,000 after acquiring an additional 552 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Stock Up 1.4%

NASDAQ AEP opened at $115.66 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33. The company has a market cap of $61.85 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 3.02 and a beta of 0.48. The company has a 50 day moving average of $111.02 and a 200-day moving average of $106.78. American Electric Power Company, Inc. has a 1-year low of $89.91 and a 1-year high of $115.84.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.16. The firm had revenue of $5.09 billion for the quarter, compared to analyst estimates 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 revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $1.25 EPS. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. On average, equities research 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $3.72 annualized dividend and a yield of 3.2%. American Electric Power's dividend payout ratio is currently 54.39%.

Insider Transactions at American Electric Power

In other American Electric Power news, Director Benjamin G. S. Fowke III sold 5,000 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $4,443,567.70. This trade represents a 10.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelly J. Ferneau sold 1,006 shares of the business's stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $112.00, for a total transaction of $112,672.00. Following the completion of 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 disclosure for this sale can be found here. Corporate insiders own 0.07% of the company's stock.

Wall Street Analysts Forecast Growth

AEP has been the topic of a number of research analyst reports. Scotiabank increased their price target on American Electric Power from $102.00 to $114.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Mizuho dropped their price objective on shares of American Electric Power from $116.00 to $113.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 16th. 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 report on Thursday, July 31st. Jefferies Financial Group lowered their price target on shares of American Electric Power from $120.00 to $116.00 and set a "hold" rating on the stock in a report on Thursday, September 11th. Finally, LADENBURG THALM/SH SH cut their price objective on shares of American Electric Power from $112.00 to $108.50 and set a "neutral" rating for the company in a research report on Wednesday, September 10th. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $114.10.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.