Rafferty Asset Management LLC Sells 29,557 Shares of American Electric Power Company, Inc. $AEP

Key Points

• Rafferty Asset Management LLC reduced its holdings in American Electric Power by 14.9%, now owning 168,793 shares valued at approximately $18.44 million.
• American Electric Power reported a quarterly earnings per share (EPS) of $1.43 for the last quarter, exceeding estimates and showing a 11.1% revenue increase year-over-year.
• The company declared a quarterly dividend of $0.93 per share, representing an annual yield of 3.3%, with a dividend payout ratio of 54.39%.

Rafferty Asset Management LLC lessened its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 14.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 168,793 shares of the company's stock after selling 29,557 shares during the period. Rafferty Asset Management LLC's holdings in American Electric Power were worth $18,444,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of AEP. Kingswood Wealth Advisors LLC raised its stake 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 worth $364,000 after purchasing an additional 430 shares in the last quarter. Ritholtz Wealth Management acquired a new position in American Electric Power during the first quarter worth $262,000. Robertson Stephens Wealth Management LLC bought a new stake in American Electric Power during the first quarter worth $205,000. GAMMA Investing LLC lifted 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 acquiring an additional 3,867 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of American Electric Power by 26.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 355,516 shares of the company's stock valued at $38,848,000 after acquiring an additional 73,488 shares during the period. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Price Performance

American Electric Power stock opened at $112.63 on Wednesday. The company has a market capitalization of $60.23 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 3.00 and a beta of 0.40. 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 Company, Inc. has a 12 month low of $89.91 and a 12 month high of $115.36. The stock's 50 day moving average is $108.22 and its 200-day moving average is $105.70.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.16. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%.The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the previous year, the company posted $1.25 EPS. The firm'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 expect that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be given a dividend of $0.93 per share. 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 dividend payout ratio (DPR) is currently 54.39%.

Insiders Place Their Bets

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of the business's stock in a transaction dated 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 sale, 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 document filed with the SEC, which is available at the SEC website. In the last ninety days, 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 recent analyst reports. UBS Group boosted their price objective on shares of American Electric Power from $100.00 to $110.00 and gave the stock a "sell" rating in a research note on Thursday, July 31st. Citigroup boosted their price target on American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Guggenheim upped their price objective on American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Raymond James Financial reiterated an "outperform" rating and set a $122.00 target price (up from $115.00) on shares of American Electric Power in a research note on Thursday, July 31st. Finally, Barclays boosted their target price on American Electric Power from $105.00 to $111.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Five 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $111.29.

American Electric Power 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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