Randolph Co Inc Purchases 105,420 Shares of American Electric Power Company, Inc. $AEP

Key Points

• Randolph Co Inc boosted its shareholding in American Electric Power Company, Inc. (AEP) by 295.5%, acquiring an additional 105,420 shares, bringing its total to 141,100 shares worth approximately $14.64 million.
• The company's quarterly earnings report revealed that AEP posted earnings of $1.43 per share, exceeding analysts' estimates, and revenue increased by 11.1% year-over-year to $5.09 billion.
• AEP recently announced a quarterly dividend of $0.93 per share, which represents a yield of 3.4% based on its annualized dividend payout.

Randolph Co Inc increased its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 295.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 141,100 shares of the company's stock after buying an additional 105,420 shares during the period. American Electric Power comprises approximately 1.5% of Randolph Co Inc's holdings, making the stock its 27th largest position. Randolph Co Inc's holdings in American Electric Power were worth $14,640,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AEP. Clarius Group LLC lifted its stake in American Electric Power by 2.5% in the 1st quarter. Clarius Group LLC now owns 3,966 shares of the company's stock worth $433,000 after purchasing an additional 95 shares in the last quarter. McIlrath & Eck LLC lifted its stake in American Electric Power by 3.2% in the 1st quarter. McIlrath & Eck LLC now owns 3,147 shares of the company's stock worth $344,000 after purchasing an additional 99 shares in the last quarter. Marcum Wealth LLC lifted its stake in American Electric Power by 3.0% in the 1st quarter. Marcum Wealth LLC now owns 3,468 shares of the company's stock worth $379,000 after purchasing an additional 101 shares in the last quarter. Personal CFO Solutions LLC lifted its stake in American Electric Power by 3.2% in the 1st quarter. Personal CFO Solutions LLC now owns 3,369 shares of the company's stock worth $368,000 after purchasing an additional 103 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. lifted its stake in American Electric Power by 1.8% in the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 5,898 shares of the company's stock worth $612,000 after purchasing an additional 104 shares in the last quarter. Institutional investors own 75.24% of the company's stock.

American Electric Power Stock Down 0.9%

Shares of NASDAQ AEP opened at $107.86 on Friday. The firm's 50-day moving average price is $110.51 and its 200-day moving average price is $106.40. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $57.68 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 2.88 and a beta of 0.46. American Electric Power Company, Inc. has a 12-month low of $89.91 and a 12-month 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 for the quarter, topping analysts' consensus estimates 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 company had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period in the prior year, the company posted $1.25 EPS. The firm's revenue for the quarter 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. On average, equities research analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Friday, August 8th. American Electric Power's dividend payout ratio is 54.39%.

Insiders Place Their Bets

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $108.65, for a total value of $543,250.00. Following the sale, the director directly owned 40,898 shares of the company's stock, valued at $4,443,567.70. This represents a 10.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.07% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on AEP. Morgan Stanley decreased their price target on shares of American Electric Power from $117.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday. Mizuho decreased their price target on shares of American Electric Power from $116.00 to $113.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 16th. Jefferies Financial Group decreased their target price on shares of American Electric Power from $120.00 to $116.00 and set a "hold" rating on the stock in a research report on Thursday, September 11th. UBS Group upped their target price on shares of American Electric Power from $100.00 to $110.00 and gave the company a "sell" rating in a research report on Thursday, July 31st. Finally, LADENBURG THALM/SH SH decreased their target price on shares of American Electric Power from $112.00 to $108.50 and set a "neutral" rating on the stock in a research report on Wednesday, September 10th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $111.63.

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.

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.