Parallax Volatility Advisers L.P. reduced its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 96.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,605 shares of the company's stock after selling 62,750 shares during the quarter. Parallax Volatility Advisers L.P.'s holdings in American Electric Power were worth $285,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nuveen LLC bought a new position in American Electric Power in the 1st quarter worth $568,042,000. GQG Partners LLC raised its holdings in American Electric Power by 30.4% in the 1st quarter. GQG Partners LLC now owns 19,631,466 shares of the company's stock worth $2,145,130,000 after purchasing an additional 4,570,941 shares in the last quarter. Wellington Management Group LLP raised its holdings in American Electric Power by 24.3% in the 1st quarter. Wellington Management Group LLP now owns 22,102,537 shares of the company's stock worth $2,415,144,000 after purchasing an additional 4,323,569 shares in the last quarter. Lazard Asset Management LLC raised its holdings in American Electric Power by 51.0% in the 4th quarter. Lazard Asset Management LLC now owns 6,416,474 shares of the company's stock worth $591,791,000 after purchasing an additional 2,165,888 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in American Electric Power by 13,499.5% in the 1st quarter. GAMMA Investing LLC now owns 2,150,215 shares of the company's stock worth $234,954,000 after purchasing an additional 2,134,404 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts have commented on AEP shares. Jefferies Financial Group decreased their price objective on shares of American Electric Power from $120.00 to $116.00 and set a "hold" rating for the company in a report on Thursday. Raymond James Financial restated an "outperform" rating and issued a $122.00 price objective (up from $115.00) on shares of American Electric Power in a report on Thursday, July 31st. Scotiabank upped their price objective on shares of American Electric Power from $102.00 to $114.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Mizuho set a $116.00 price target on shares of American Electric Power and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Finally, Morgan Stanley reiterated an "overweight" rating on shares of American Electric Power in a research note on Thursday, August 21st. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $111.93.
Read Our Latest Stock Report on AEP
Insider Buying and Selling
In other news, EVP David Matthew Feinberg sold 8,058 shares of American Electric Power stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total transaction of $819,820.92. Following the sale, the executive vice president owned 10,274 shares in the company, valued at $1,045,276.76. This trade represents a 43.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.07% of the company's stock.
American Electric Power Stock Performance
Shares of NASDAQ AEP traded up $0.72 during trading on Friday, reaching $109.46. 2,180,621 shares of the company traded hands, compared to its average volume of 2,876,504. The firm has a 50 day simple moving average of $110.03 and a 200-day simple moving average of $106.26. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $58.54 billion, a PE ratio of 16.00, a P/E/G ratio of 2.88 and a beta of 0.46. American Electric Power Company, Inc. has a 52-week low of $89.91 and a 52-week high of $115.36.
American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.16. The company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.85 billion. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The firm's revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.25 earnings per share. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. Equities research analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.
American Electric Power Dividend Announcement
The company also recently announced 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. The ex-dividend date was Friday, August 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.4%. American Electric Power's dividend payout ratio (DPR) is presently 54.39%.
About American Electric Power
(
Free Report)
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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