ICONIQ Capital LLC Acquires New Shares in American Electric Power Company, Inc. $AEP

Key Points

• ICONIQ Capital LLC acquired a new stake in American Electric Power, purchasing 2,669 shares valued at approximately $292,000.
• American Electric Power announced a quarterly dividend of $0.93, representing an annualized yield of 3.3%, with the ex-dividend date set for August 8th.
• Equities analysts have raised their price targets for American Electric Power, with a consensus price target of $111.29 amidst varying ratings from "Buy" to "Sell."

ICONIQ Capital LLC bought a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,669 shares of the company's stock, valued at approximately $292,000.

Several other institutional investors have also recently made changes to their positions in AEP. EQ Wealth Advisors LLC bought a new stake in shares of American Electric Power during the 1st quarter valued at $25,000. Bank of New Hampshire purchased a new position in American Electric Power during the 1st quarter valued at about $28,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of American Electric Power during the first quarter valued at about $33,000. Fourth Dimension Wealth LLC purchased a new stake in shares of American Electric Power in the fourth quarter worth about $28,000. Finally, IMA Advisory Services Inc. purchased a new stake in shares of American Electric Power in the first quarter worth about $35,000. Hedge funds and other institutional investors own 75.24% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Scotiabank boosted their price objective on shares of 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. Wells Fargo & Company boosted their price target on shares of American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Citigroup upped their price target on shares of American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. UBS Group lifted their price objective on American Electric Power from $100.00 to $110.00 and gave the company a "sell" rating in a research note on Thursday, July 31st. Finally, Raymond James Financial restated an "outperform" rating and set a $122.00 target price (up from $115.00) on shares of American Electric Power in a research report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued 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 $111.29.

American Electric Power Stock Performance

NASDAQ AEP opened at $113.00 on Tuesday. American Electric Power Company, Inc. has a 52-week low of $89.91 and a 52-week high of $115.36. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55. The company has a market capitalization of $60.43 billion, a P/E ratio of 16.52, a P/E/G ratio of 3.03 and a beta of 0.40. The company has a fifty day moving average of $108.00 and a 200-day moving average of $105.66.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.16. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%.The business had revenue of $5.09 billion for the quarter, compared to analysts' expectations of $4.85 billion. During the same quarter in the prior year, the firm earned $1.25 earnings per share. The firm's revenue 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 predict that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

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

Insiders Place Their Bets

In other American Electric Power 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 completion of the sale, the executive vice president owned 10,274 shares of the company's stock, valued at $1,045,276.76. This represents a 43.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 24,173 shares of company stock valued at $2,467,015. Insiders own 0.07% of the company's stock.

About American Electric Power

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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