American Electric Power Company, Inc. $AEP Shares Sold by Kennebec Savings Bank

Kennebec Savings Bank cut its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 3,711 shares of the company’s stock after selling 149 shares during the period. Kennebec Savings Bank’s holdings in American Electric Power were worth $385,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Clarius Group LLC boosted its holdings in American Electric Power by 2.5% in the first quarter. Clarius Group LLC now owns 3,966 shares of the company’s stock worth $433,000 after purchasing an additional 95 shares during the period. McIlrath & Eck LLC boosted its holdings in American Electric Power by 3.2% in the first quarter. McIlrath & Eck LLC now owns 3,147 shares of the company’s stock worth $344,000 after purchasing an additional 99 shares during the period. Personal CFO Solutions LLC boosted its holdings in American Electric Power by 3.2% in the first quarter. Personal CFO Solutions LLC now owns 3,369 shares of the company’s stock worth $368,000 after purchasing an additional 103 shares during the period. McGlone Suttner Wealth Management Inc. boosted its holdings in American Electric Power by 1.8% in the second quarter. McGlone Suttner Wealth Management Inc. now owns 5,898 shares of the company’s stock worth $612,000 after purchasing an additional 104 shares during the period. Finally, Strategic Blueprint LLC boosted its holdings in American Electric Power by 0.4% in the first quarter. Strategic Blueprint LLC now owns 24,552 shares of the company’s stock worth $2,683,000 after purchasing an additional 108 shares during the period. 75.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AEP. UBS Group lifted their price objective on shares of American Electric Power from $100.00 to $110.00 and gave the stock a “sell” rating in a report on Thursday, July 31st. Raymond James Financial reaffirmed 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 shares of American Electric Power from $116.00 to $113.00 and set a “neutral” rating for the company in a report on Tuesday, September 16th. Barclays lifted their price objective on shares of American Electric Power from $105.00 to $111.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Finally, LADENBURG THALM/SH SH decreased their price objective on shares of American Electric Power from $112.00 to $108.50 and set a “neutral” rating for the company in a report on Wednesday, September 10th. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $111.63.

Insiders Place Their Bets

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of the company’s 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 sale, the director owned 40,898 shares of the company’s stock, valued at $4,443,567.70. This represents a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.07% of the stock is owned by insiders.

American Electric Power Stock Performance

Shares of AEP opened at $112.75 on Thursday. 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 $60.30 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 2.98 and a beta of 0.48. 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 firm has a fifty day moving average of $110.69 and a 200-day moving average of $106.59.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the previous year, the company 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. As a group, equities analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were issued a $0.93 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $3.72 annualized dividend and a yield of 3.3%. American Electric Power’s dividend 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.