Johnson Investment Counsel Inc. Acquires 35,699 Shares of American Electric Power Company, Inc. $AEP

Key Points

• Johnson Investment Counsel Inc. increased its stake in American Electric Power Company, Inc. by 3.1%, acquiring 35,699 additional shares, bringing its total to 1,169,737 shares valued at approximately $121.37 million.
• American Electric Power announced a quarterly dividend of $0.93 per share, yielding 3.2%, with a payout ratio of 54.39% as of the most recent reporting period.
• Several analysts have revised their target prices for American Electric Power, with Raymond James raising it to $122.00, while Evercore ISI set a new coverage target of $133.00 with an "outperform" rating.

Johnson Investment Counsel Inc. raised its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 3.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,169,737 shares of the company's stock after buying an additional 35,699 shares during the period. American Electric Power comprises about 1.1% of Johnson Investment Counsel Inc.'s investment portfolio, making the stock its 21st biggest holding. Johnson Investment Counsel Inc. owned approximately 0.22% of American Electric Power worth $121,372,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC boosted its position in American Electric Power by 14.8% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,331 shares of the company's stock valued at $364,000 after buying an additional 430 shares during the period. Ritholtz Wealth Management purchased a new stake in American Electric Power during the 1st quarter valued at $262,000. Venture Visionary Partners LLC boosted its position in American Electric Power by 7.3% during the 2nd quarter. Venture Visionary Partners LLC now owns 68,233 shares of the company's stock valued at $7,080,000 after buying an additional 4,616 shares during the period. SteelPeak Wealth LLC purchased a new stake in American Electric Power during the 2nd quarter valued at $7,722,000. Finally, Robertson Stephens Wealth Management LLC purchased a new stake in American Electric Power during the 1st quarter valued at $205,000. Hedge funds and other institutional investors own 75.24% of the company's stock.

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 transaction of $543,250.00. Following the completion of the sale, the director directly owned 40,898 shares in the company, valued at approximately $4,443,567.70. This trade represents a 10.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kelly J. Ferneau sold 1,006 shares of the firm's stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $112.00, for a total transaction of $112,672.00. Following the sale, the executive vice president owned 5,676 shares of the company's stock, valued at approximately $635,712. This represents a 15.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.07% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on AEP shares. Scotiabank raised their target price on shares of American Electric Power from $102.00 to $114.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Barclays raised their target price on shares of American Electric Power from $105.00 to $111.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Raymond James Financial reaffirmed an "outperform" rating and issued a $122.00 target price (up from $115.00) on shares of American Electric Power in a research report on Thursday, July 31st. LADENBURG THALM/SH SH dropped their target price 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. Finally, Evercore ISI started coverage on shares of American Electric Power in a research report on Monday, October 6th. They issued an "outperform" rating and a $133.00 target price for the company. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, American Electric Power presently has a consensus rating of "Hold" and a consensus target price of $114.50.

American Electric Power Trading Up 0.1%

Shares of NASDAQ AEP opened at $117.04 on Friday. American Electric Power Company, Inc. has a 1 year low of $89.91 and a 1 year high of $119.06. The stock has a market cap of $62.59 billion, a P/E ratio of 17.11, a price-to-earnings-growth ratio of 3.09 and a beta of 0.48. The firm has a 50-day moving average of $111.44 and a 200 day moving average of $107.15. 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 (NASDAQ:AEP - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates 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 revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $1.25 EPS. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. As a group, sell-side analysts expect 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 disclosed 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. This represents a $3.72 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Friday, August 8th. American Electric Power's dividend payout ratio (DPR) is currently 54.39%.

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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