Signet Financial Management LLC Purchases New Stake in American Electric Power Company, Inc. $AEP

Key Points

• Signet Financial Management LLC acquired a new stake in American Electric Power, purchasing 32,016 shares valued at approximately $3,322,000 during the second quarter.
• Analysts have set a consensus target price of $111.50 for American Electric Power, with five firms rating it as a Buy and one as a Sell.
• The company has announced a quarterly dividend of $0.93, resulting in an annualized yield of 3.4% based on a current payout ratio of 54.39%.

Signet Financial Management LLC purchased a new stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,016 shares of the company's stock, valued at approximately $3,322,000.

Other institutional investors have also recently added to or reduced their stakes in the company. EQ Wealth Advisors LLC acquired a new stake in shares of American Electric Power during the first quarter worth $25,000. Bank of New Hampshire acquired a new stake in shares of American Electric Power during the first quarter worth $28,000. Bayforest Capital Ltd acquired a new stake in shares of American Electric Power during the first quarter worth $31,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of American Electric Power during the first quarter worth $33,000. Finally, IMA Advisory Services Inc. acquired a new stake in shares of American Electric Power during the first quarter worth $35,000. 75.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on AEP. Jefferies Financial Group dropped 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 report on Thursday, September 11th. Morgan Stanley reissued an "overweight" rating on shares of American Electric Power in a report on Thursday, August 21st. Barclays upped their price target on shares of American Electric Power from $105.00 to $111.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Raymond James Financial restated an "outperform" rating and set a $122.00 price target (up previously from $115.00) on shares of American Electric Power in a research report on Thursday, July 31st. Finally, Mizuho lowered 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 report on Tuesday, September 16th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, American Electric Power has an average rating of "Hold" and a consensus target price of $111.50.

American Electric Power Stock Performance

Shares of AEP opened at $108.88 on Thursday. The firm has a 50-day moving average price of $110.47 and a 200 day moving average price of $106.40. The firm has a market capitalization of $58.23 billion, a PE ratio of 15.92, a P/E/G ratio of 2.86 and a beta of 0.46. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. 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 announced its earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.16. The firm had revenue of $5.09 billion during the quarter, compared to analyst estimates 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 was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 EPS. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. On average, sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently announced 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 was Friday, August 8th. American Electric Power's dividend payout ratio is currently 54.39%.

Insider Transactions at American Electric Power

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 completion of the transaction, the director owned 40,898 shares in the company, valued at $4,443,567.70. This represents a 10.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.07% of the stock is owned by corporate insiders.

About American Electric Power

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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