SteelPeak Wealth LLC Makes New Investment in American Electric Power Company, Inc. $AEP

Key Points

• SteelPeak Wealth LLC has acquired a new position in American Electric Power, purchasing 74,422 shares valued at approximately $7.72 million during the 2nd quarter.
• American Electric Power's stock has an average rating of "Hold," with a consensus target price of $114.10 according to analysts, who have mixed ratings with seven "Buy" and eight "Hold" ratings.
• Recently, the company declared a quarterly dividend of $0.93 per share, representing a yield of 3.2%, with a payout ratio of 54.39%.

SteelPeak Wealth LLC acquired a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 74,422 shares of the company's stock, valued at approximately $7,722,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. EQ Wealth Advisors LLC purchased a new position in shares of American Electric Power in the 1st quarter valued at $25,000. Bank of New Hampshire purchased a new position in shares of American Electric Power in the 1st quarter valued at $28,000. Bayforest Capital Ltd purchased a new position in shares of American Electric Power in the 1st quarter valued at $31,000. Missouri Trust & Investment Co purchased a new position in shares of American Electric Power in the 2nd quarter valued at $31,000. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of American Electric Power in the 1st quarter valued at $33,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AEP shares. Evercore ISI set a $133.00 price target on American Electric Power and gave the company an "outperform" rating in a report on Monday. Weiss Ratings reissued a "buy (b)" rating on shares of American Electric Power in a research report on Saturday, September 27th. Mizuho lowered their price objective on 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. Scotiabank raised their price objective on American Electric Power from $102.00 to $114.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Finally, Jefferies Financial Group lowered their price objective on American Electric Power from $120.00 to $116.00 and set a "hold" rating for the company in a research report on Thursday, September 11th. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $114.10.

American Electric Power Stock Performance

Shares of AEP opened at $115.66 on Tuesday. The stock has a 50-day moving average of $111.02 and a two-hundred day moving average of $106.78. American Electric Power Company, Inc. has a one year low of $89.91 and a one year high of $115.84. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55. The stock has a market cap of $61.85 billion, a P/E ratio of 16.91, a P/E/G ratio of 3.02 and a beta of 0.48.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $5.09 billion during the quarter, compared to analysts' expectations of $4.85 billion. During the same quarter in the previous year, the firm posted $1.25 EPS. The firm's revenue was up 11.1% compared to the same quarter last year. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. As a group, research analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

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

Insider Transactions at American Electric Power

In other American Electric Power news, Director Benjamin G. S. Fowke III sold 5,000 shares of American Electric Power stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $108.65, for a total transaction of $543,250.00. Following the completion of the sale, the director owned 40,898 shares of the company's stock, valued at approximately $4,443,567.70. The trade was a 10.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kelly J. Ferneau sold 1,006 shares of American Electric Power stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $112.00, for a total value of $112,672.00. Following the sale, the executive vice president directly owned 5,676 shares of the company's stock, valued at approximately $635,712. This represents a 15.06% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.07% of the company's stock.

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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