Merit Financial Group LLC Increases Stock Holdings in American Electric Power Company, Inc. $AEP

Key Points

• Merit Financial Group LLC significantly increased its holdings in American Electric Power Company, Inc. by 211.4% in the second quarter, bringing its total shares to 50,295, valued at $5.2 million.
• American Electric Power reported $1.43 earnings per share in its latest quarterly earnings, exceeding analysts' expectations of $1.27, and its revenue reached $5.09 billion, surpassing the anticipated $4.85 billion.
• The company's stock is currently rated as a "Hold"** by analysts, with an average price target of $114.10, and it recently announced a quarterly dividend of $0.93 per share.

Merit Financial Group LLC increased its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 211.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,295 shares of the company's stock after acquiring an additional 34,143 shares during the quarter. Merit Financial Group LLC's holdings in American Electric Power were worth $5,219,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kingswood Wealth Advisors LLC grew its position in shares of 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 purchasing an additional 430 shares in the last quarter. Ritholtz Wealth Management bought a new stake in shares of American Electric Power during the 1st quarter valued at about $262,000. Venture Visionary Partners LLC grew its holdings in shares of American Electric Power by 7.3% during the second quarter. Venture Visionary Partners LLC now owns 68,233 shares of the company's stock worth $7,080,000 after purchasing an additional 4,616 shares in the last quarter. Robertson Stephens Wealth Management LLC bought a new position in shares of American Electric Power in the first quarter worth approximately $205,000. Finally, GAMMA Investing LLC raised its stake in American Electric Power by 24.5% in the first quarter. GAMMA Investing LLC now owns 19,678 shares of the company's stock valued at $2,150,000 after purchasing an additional 3,867 shares in the last quarter. Institutional investors own 75.24% of the company's stock.

American Electric Power Stock Up 1.4%

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

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 earnings per share 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 business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $1.25 EPS. 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 year.

American Electric Power Dividend Announcement

The business also recently declared 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 was Friday, August 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.2%. American Electric Power's payout ratio is currently 54.39%.

Analysts Set New Price Targets

A number of brokerages have recently commented on AEP. Jefferies Financial Group decreased 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. Raymond James Financial reissued an "outperform" rating and issued a $122.00 target price (up previously from $115.00) on shares of American Electric Power in a research note on Thursday, July 31st. Scotiabank lifted their price target on American Electric Power from $102.00 to $114.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Weiss Ratings reiterated a "buy (b)" rating on shares of American Electric Power in a report on Saturday, September 27th. Finally, Mizuho reduced their price objective on 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. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $114.10.

Insider Transactions at American Electric Power

In other news, EVP Kelly J. Ferneau sold 1,006 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $112.00, for a total value 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 approximately $635,712. This represents a 15.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $108.65, for a total value of $543,250.00. Following the completion of the transaction, the director owned 40,898 shares of the company's stock, valued at approximately $4,443,567.70. The trade was a 10.89% decrease in their position. The disclosure for this sale can be found here. 0.07% of the stock is owned by corporate 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.

Want to see what other hedge funds are holding AEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Electric Power Company, Inc. (NASDAQ:AEP - Free Report).

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.