Monashee Investment Management LLC Purchases New Shares in American Electric Power Company, Inc. $AEP

Key Points

• Monashee Investment Management LLC has acquired 150,000 shares of American Electric Power, valued at approximately $16.39 million, making it the firm's 10th largest investment.
• American Electric Power recently reported a quarterly earnings per share (EPS) of $1.43, surpassing analysts' expectations, with revenue increasing by 11.1% year-over-year.
• The company has declared a quarterly dividend of $0.93, yielding 3.3%, with the payout ratio currently at 54.39%.

Monashee Investment Management LLC purchased a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 150,000 shares of the company's stock, valued at approximately $16,390,000. American Electric Power makes up about 1.9% of Monashee Investment Management LLC's investment portfolio, making the stock its 10th largest position.

Several other hedge funds have also added to or reduced their stakes in the stock. Summit Financial LLC raised its position in American Electric Power by 7.2% in the first quarter. Summit Financial LLC now owns 31,879 shares of the company's stock worth $3,483,000 after acquiring an additional 2,137 shares during the period. Price T Rowe Associates Inc. MD raised its position in American Electric Power by 1.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 774,560 shares of the company's stock worth $84,637,000 after acquiring an additional 10,780 shares during the period. T. Rowe Price Investment Management Inc. bought a new stake in American Electric Power in the first quarter worth about $77,264,000. Capital Analysts LLC raised its position in American Electric Power by 4.0% in the first quarter. Capital Analysts LLC now owns 130,432 shares of the company's stock worth $14,253,000 after acquiring an additional 5,075 shares during the period. Finally, Tradition Wealth Management LLC bought a new stake in American Electric Power in the first quarter worth about $215,000. Institutional investors own 75.24% of the company's stock.

American Electric Power Price Performance

Shares of NASDAQ:AEP opened at $113.55 on Thursday. The company has a 50 day moving average of $107.35 and a 200 day moving average of $105.28. The stock has a market cap of $60.73 billion, a P/E ratio of 16.60, a P/E/G ratio of 2.99 and a beta of 0.40. American Electric Power Company, Inc. has a 12 month low of $89.91 and a 12 month high of $115.36. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.27 by $0.16. The company had revenue of $5.09 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.25 earnings per share. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. As a group, sell-side analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

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

Insider Buying and Selling

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total value of $819,820.92. Following the completion of the transaction, the executive vice president owned 10,274 shares of the company's stock, valued at $1,045,276.76. The trade was a 43.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 24,173 shares of company stock valued at $2,467,015. 0.07% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AEP has been the topic of several research reports. Mizuho set a $116.00 price objective on shares of American Electric Power and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Wells Fargo & Company lifted their target price on shares of American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Morgan Stanley reduced their target price on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Barclays lifted 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 note on Friday, August 1st. Finally, Raymond James Financial reiterated 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. Five research 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 MarketBeat, American Electric Power presently has a consensus rating of "Hold" and a consensus target price of $111.29.

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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