VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 77,900 American Electric Power Company, Inc. $AEP

Key Points

• Virginia Retirement Systems purchased 77,900 shares of American Electric Power Company, valued at approximately $8.08 million, during the second quarter.
• American Electric Power's stock recently opened at $117.82 and had a 12-month price range between $89.91 and $120.46.
• The company's last earnings report showed earnings per share of $1.43, surpassing analysts' expectations, with a revenue increase of 11.1% from the previous year.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 77,900 shares of the company's stock, valued at approximately $8,083,000.

Other hedge funds also recently modified their holdings of the company. EQ Wealth Advisors LLC acquired a new stake in shares of American Electric Power during the first quarter worth about $25,000. Bayforest Capital Ltd acquired a new stake in shares of American Electric Power during the first quarter worth about $31,000. Missouri Trust & Investment Co acquired a new stake in shares of American Electric Power during the second quarter worth about $31,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of American Electric Power during the first quarter worth about $33,000. Finally, IMA Advisory Services Inc. acquired a new stake in shares of American Electric Power during the first quarter worth about $35,000. Institutional investors and hedge funds own 75.24% of the company's stock.

American Electric Power Stock Up 0.2%

AEP stock opened at $117.82 on Tuesday. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. The business has a 50 day moving average price of $111.98 and a two-hundred day moving average price of $107.59. The company has a market cap of $63.01 billion, a price-to-earnings ratio of 17.23, a P/E/G ratio of 3.10 and a beta of 0.48. American Electric Power Company, Inc. has a twelve month low of $89.91 and a twelve month high of $120.46.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share 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 the consensus estimate of $4.85 billion. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%.The business's revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $1.25 earnings per share. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. Analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

Insider Buying and Selling

In other American Electric Power news, Director Benjamin G. S. Fowke III sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $108.65, for a total value of $543,250.00. Following the completion of the transaction, the director directly owned 40,898 shares in the company, valued at $4,443,567.70. This trade represents a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kelly J. Ferneau sold 1,006 shares of American Electric Power stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $112.00, for a total value of $112,672.00. Following the transaction, the executive vice president owned 5,676 shares of the company's stock, valued at $635,712. This represents a 15.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,006 shares of company stock valued at $1,243,522. Corporate insiders own 0.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AEP shares. Morgan Stanley dropped their price target on American Electric Power from $117.00 to $115.00 and set an "overweight" rating on the stock in a research report on Thursday, September 25th. LADENBURG THALM/SH SH decreased their price objective on American Electric Power from $112.00 to $108.50 and set a "neutral" rating for the company in a report on Wednesday, September 10th. Barclays increased their price objective on American Electric Power from $111.00 to $117.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 14th. Scotiabank increased their price objective on American Electric Power from $102.00 to $114.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Finally, TD Cowen initiated coverage on American Electric Power in a report on Thursday, October 16th. They set a "buy" rating and a $133.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, American Electric Power has a consensus rating of "Hold" and a consensus price target of $119.26.

American Electric Power Company 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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