ZWJ Investment Counsel Inc. Sells 32,539 Shares of American Electric Power Company, Inc. $AEP

Key Points

• ZWJ Investment Counsel Inc. has decreased its holdings in American Electric Power Company, Inc. by 7.5%, selling 32,539 shares during the 2nd quarter.
• American Electric Power reported a 1.43 EPS for the last quarter, surpassing analysts' expectations, and expects to achieve 5.87 EPS for the current fiscal year.
• The company declared a quarterly dividend of $0.93 per share, with an annual yield of 3.3%, and a 54.39% payout ratio.

ZWJ Investment Counsel Inc. lowered its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 7.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 400,112 shares of the company's stock after selling 32,539 shares during the period. American Electric Power comprises about 1.5% of ZWJ Investment Counsel Inc.'s holdings, making the stock its 26th largest holding. ZWJ Investment Counsel Inc. owned approximately 0.07% of American Electric Power worth $41,516,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AEP. EQ Wealth Advisors LLC bought a new stake in American Electric Power during the first quarter worth about $25,000. Bank of New Hampshire bought a new stake in American Electric Power during the first quarter worth about $28,000. Bayforest Capital Ltd bought a new stake in American Electric Power during the first quarter worth about $31,000. Missouri Trust & Investment Co bought a new stake in American Electric Power during the second quarter worth about $31,000. Finally, MJT & Associates Financial Advisory Group Inc. bought a new stake in American Electric Power during the first quarter worth about $33,000. Institutional investors own 75.24% of the company's stock.

Insider Transactions at American Electric Power

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of the business's 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 transaction, the director owned 40,898 shares in the company, valued at $4,443,567.70. The trade was a 10.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the executive vice president owned 5,676 shares in the company, valued at approximately $635,712. This represents a 15.06% decrease in their position. The disclosure for this sale can be found here. 0.07% of the stock is owned by insiders.

American Electric Power Stock Up 0.5%

Shares of NASDAQ:AEP opened at $114.06 on Friday. American Electric Power Company, Inc. has a 1 year low of $89.91 and a 1 year high of $115.36. The company has a market cap of $61.00 billion, a PE ratio of 16.68, a P/E/G ratio of 3.00 and a beta of 0.48. 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 stock's 50-day moving average is $110.87 and its 200 day moving average is $106.70.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly 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. 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 for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the previous year, the business earned $1.25 EPS. American Electric Power'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. Sell-side 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 declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Friday, August 8th. American Electric Power's payout ratio is currently 54.39%.

Wall Street Analysts Forecast Growth

AEP has been the topic of several analyst reports. Morgan Stanley decreased their price objective on American Electric Power from $117.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. Jefferies Financial Group decreased their price objective on American Electric Power from $120.00 to $116.00 and set a "hold" rating on the stock in a report on Thursday, September 11th. Raymond James Financial reiterated an "outperform" rating and issued a $122.00 price objective (up previously from $115.00) on shares of American Electric Power in a report on Thursday, July 31st. Mizuho decreased their price objective on American Electric Power from $116.00 to $113.00 and set a "neutral" rating on the stock in a report on Tuesday, September 16th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of American Electric Power in a report on Saturday, September 27th. Six equities 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 company. According to data from MarketBeat, American Electric Power has a consensus rating of "Hold" and a consensus price target of $111.63.

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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