Morningstar Investment Management LLC Buys Shares of 6,451 American Electric Power Company, Inc. $AEP

Key Points

• Morningstar Investment Management LLC acquired 6,451 shares of American Electric Power Company, Inc., valued at approximately $669,000, in the second quarter.
• American Electric Power recently declared a quarterly dividend of $0.93 per share, representing a 3.2% dividend yield and an annualized payout of $3.72.
• Analysts have mixed ratings on the stock, with a consensus rating of "Hold" and a target price of $114.50 amid recent price adjustments from several financial institutions.

Morningstar Investment Management LLC bought a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,451 shares of the company's stock, valued at approximately $669,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. EQ Wealth Advisors LLC acquired a new stake in shares of American Electric Power in the 1st quarter worth approximately $25,000. Bayforest Capital Ltd acquired a new stake in shares of American Electric Power in the 1st quarter worth approximately $31,000. Missouri Trust & Investment Co acquired a new stake in shares of American Electric Power in the 2nd quarter worth approximately $31,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of American Electric Power in the 1st quarter worth approximately $33,000. Finally, IMA Advisory Services Inc. acquired a new stake in shares of American Electric Power in the 1st quarter worth approximately $35,000. 75.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of the business'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 transaction of $543,250.00. Following the sale, the director owned 40,898 shares in the company, valued at $4,443,567.70. The trade was a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelly J. Ferneau sold 1,006 shares of the business's stock in a transaction that occurred on 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 in the company, valued at $635,712. This represents a 15.06% decrease in their position. The disclosure for this sale can be found here. 0.07% of the stock is owned by insiders.

American Electric Power Stock Down 0.2%

AEP stock opened at $116.80 on Tuesday. American Electric Power Company, Inc. has a 12 month low of $89.91 and a 12 month high of $119.06. The firm has a market cap of $62.46 billion, a PE ratio of 17.08, a P/E/G ratio of 3.09 and a beta of 0.48. The firm has a 50 day simple moving average of $111.48 and a 200 day simple moving average of $107.23. 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 earnings results on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.27 by $0.16. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The business had revenue of $5.09 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same period in the prior year, the business earned $1.25 earnings per share. The business's quarterly 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. Equities research analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were issued a dividend of $0.93 per share. The ex-dividend date was Friday, August 8th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.2%. American Electric Power's payout ratio is currently 54.39%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of American Electric Power in a research note on Wednesday, October 8th. LADENBURG THALM/SH SH reduced their price target on shares of American Electric Power from $112.00 to $108.50 and set a "neutral" rating for the company in a research note on Wednesday, September 10th. Mizuho reduced their price target on shares of American Electric Power from $116.00 to $113.00 and set a "neutral" rating for the company in a research note on Tuesday, September 16th. Jefferies Financial Group reduced their price target on shares of American Electric Power from $120.00 to $116.00 and set a "hold" rating for the company in a research note on Thursday, September 11th. Finally, Morgan Stanley reduced their price target on shares of American Electric Power from $117.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, September 25th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $114.50.

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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