TrueMark Investments LLC Has $5.29 Million Holdings in American Electric Power Company, Inc. $AEP

Key Points

• TrueMark Investments LLC increased its holdings in American Electric Power by 8.6%, now owning 50,975 shares valued at approximately $5.29 million.
• American Electric Power has seen significant activity from institutional investors, with 75.24% of its stock currently owned by them.
• Analyst reports indicate a mix of ratings for AEP, with targets ranging from $113.00 to $133.00, suggesting varied market confidence in the stock's future performance.

TrueMark Investments LLC grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 8.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,975 shares of the company's stock after purchasing an additional 4,028 shares during the period. American Electric Power comprises approximately 1.1% of TrueMark Investments LLC's investment portfolio, making the stock its 20th biggest holding. TrueMark Investments LLC's holdings in American Electric Power were worth $5,289,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EQ Wealth Advisors LLC acquired a new stake in shares of American Electric Power in the first quarter valued at approximately $25,000. Bayforest Capital Ltd acquired a new stake in shares of American Electric Power in the first quarter valued at approximately $31,000. Missouri Trust & Investment Co acquired a new stake in shares of American Electric Power in the second quarter valued at approximately $31,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of American Electric Power in the first quarter valued at approximately $33,000. Finally, IMA Advisory Services Inc. acquired a new position in American Electric Power during the first quarter worth $35,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AEP has been the topic of several analyst reports. Scotiabank upped their price target on shares of 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. The Goldman Sachs Group upped their price target on shares of American Electric Power from $125.00 to $128.00 and gave the stock a "buy" rating in a research report on Tuesday, October 14th. Mizuho dropped 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 report on Tuesday, September 16th. BMO Capital Markets upped their price target on shares of American Electric Power from $121.00 to $127.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, Evercore ISI initiated coverage on shares of American Electric Power in a research report on Monday, October 6th. They set an "outperform" rating and a $133.00 price target on the stock. Ten analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, American Electric Power presently has an average rating of "Hold" and a consensus price target of $119.26.

Insider Transactions at American Electric Power

In other news, EVP Kelly J. Ferneau sold 1,006 shares of the business's stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $112.00, for a total value of $112,672.00. Following the completion of the sale, the executive vice president owned 5,676 shares of the company's stock, valued at approximately $635,712. The trade was a 15.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the business's stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $117.52, for a total transaction of $587,600.00. Following the completion of the sale, the director directly owned 35,898 shares of the company's stock, valued at approximately $4,218,732.96. The trade was a 12.23% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 11,006 shares of company stock valued at $1,243,522. 0.07% of the stock is currently owned by company insiders.

American Electric Power Stock Performance

AEP stock opened at $117.53 on Friday. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.41. The company has a fifty day moving average price of $111.86 and a two-hundred day moving average price of $107.51. American Electric Power Company, Inc. has a one year low of $89.91 and a one year high of $120.46. The stock has a market cap of $62.85 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 3.10 and a beta of 0.48.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings data 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 net margin of 17.68% and a return on equity of 11.55%. The firm had revenue of $5.09 billion during the quarter, compared to analysts' expectations of $4.85 billion. During the same period in the previous year, the business posted $1.25 earnings per share. The company's revenue for the quarter 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. Equities analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

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

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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