Hodges Capital Management Inc. Acquires 3,732 Shares of American Electric Power Company, Inc. $AEP

Key Points

• Hodges Capital Management Inc. increased its holdings in American Electric Power by 27.7%, acquiring an additional 3,732 shares to reach a total of 17,228 shares valued at approximately $1.88 million.
• American Electric Power reported earnings of $1.43 per share for the most recent quarter, exceeding analysts' expectations, with a revenue of $5.09 billion, marking an 11.1% year-over-year increase.
• The company recently declared a quarterly dividend of $0.93 per share, providing a dividend yield of 3.4% based on an annual payout of $3.72.

Hodges Capital Management Inc. grew its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 27.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,228 shares of the company's stock after purchasing an additional 3,732 shares during the quarter. Hodges Capital Management Inc.'s holdings in American Electric Power were worth $1,882,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EQ Wealth Advisors LLC bought a new position in American Electric Power during the first quarter worth about $25,000. Fourth Dimension Wealth LLC purchased a new stake in shares of American Electric Power in the fourth quarter worth about $28,000. Bank of New Hampshire purchased a new stake in shares of American Electric Power in the first quarter worth about $28,000. Bayforest Capital Ltd purchased a new stake in shares of American Electric Power in the first quarter worth about $31,000. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of American Electric Power in the first quarter worth about $33,000. Institutional investors own 75.24% of the company's stock.

American Electric Power Trading Up 0.7%

Shares of AEP opened at $109.46 on Friday. The firm's 50 day simple moving average is $110.03 and its 200 day simple moving average is $106.27. The company has a market capitalization of $58.54 billion, a P/E ratio of 16.00, a P/E/G ratio of 2.88 and a beta of 0.46. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.41. American Electric Power Company, Inc. has a 1-year low of $89.91 and a 1-year high of $115.36.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.16. The business had revenue of $5.09 billion for 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%. American Electric Power's quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $1.25 earnings per share. 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 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were paid 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 dividend yield of 3.4%. American Electric Power's dividend payout ratio (DPR) is 54.39%.

Insider Activity at American Electric Power

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of American Electric Power stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total transaction of $819,820.92. Following the transaction, the executive vice president directly owned 10,274 shares of the company's stock, valued at approximately $1,045,276.76. This trade represents a 43.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.07% of the company's stock.

Analyst Upgrades and Downgrades

AEP has been the topic of a number of recent analyst reports. Morgan Stanley reissued an "overweight" rating on shares of American Electric Power in a report on Thursday, August 21st. Barclays increased their price target on shares of American Electric Power from $105.00 to $111.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Raymond James Financial reissued an "outperform" rating and issued a $122.00 price target (up from $115.00) on shares of American Electric Power in a report on Thursday, July 31st. Scotiabank increased their price target 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. Finally, 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. Five research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $111.93.

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.

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