Capital City Trust Co. FL Purchases 552 Shares of American Electric Power Company, Inc. $AEP

Capital City Trust Co. FL boosted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 39,713 shares of the company’s stock after acquiring an additional 552 shares during the quarter. Capital City Trust Co. FL’s holdings in American Electric Power were worth $4,121,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AEP. Nuveen LLC bought a new position in American Electric Power in the 1st quarter worth about $568,042,000. GQG Partners LLC grew its stake in American Electric Power by 30.4% in the 1st quarter. GQG Partners LLC now owns 19,631,466 shares of the company’s stock worth $2,145,130,000 after acquiring an additional 4,570,941 shares in the last quarter. Wellington Management Group LLP grew its stake in American Electric Power by 24.3% in the 1st quarter. Wellington Management Group LLP now owns 22,102,537 shares of the company’s stock worth $2,415,144,000 after acquiring an additional 4,323,569 shares in the last quarter. Bessemer Group Inc. grew its stake in American Electric Power by 4,567.3% in the 1st quarter. Bessemer Group Inc. now owns 1,764,677 shares of the company’s stock worth $192,827,000 after acquiring an additional 1,726,868 shares in the last quarter. Finally, Ghisallo Capital Management LLC bought a new position in American Electric Power in the 1st quarter worth about $153,524,000. 75.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Mizuho dropped their target price on shares of American Electric Power from $116.00 to $113.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 16th. Morgan Stanley dropped their target price on shares of American Electric Power from $117.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Raymond James Financial restated an “outperform” rating and issued a $122.00 target price (up from $115.00) on shares of American Electric Power in a research note on Thursday, July 31st. UBS Group upped their price target on shares of American Electric Power from $100.00 to $110.00 and gave the stock a “sell” rating in a research report on Thursday, July 31st. Finally, Jefferies Financial Group lowered their price target on shares of 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. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $111.63.

Insiders Place Their Bets

In other American Electric Power news, EVP Kelly J. Ferneau sold 1,006 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president owned 5,676 shares of the company’s stock, valued at approximately $635,712. This trade represents a 15.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the firm’s stock in a transaction on 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 transaction, the director directly owned 40,898 shares of the company’s stock, valued at approximately $4,443,567.70. This represents a 10.89% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.07% of the company’s stock.

American Electric Power Trading Up 0.5%

NASDAQ:AEP opened at $114.06 on Friday. American Electric Power Company, Inc. has a 52 week low of $89.91 and a 52 week high of $115.36. The firm has a 50 day moving average of $110.87 and a 200 day moving average of $106.70. 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 stock has a market capitalization of $61.00 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 3.02 and a beta of 0.48.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, beating 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 company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. American Electric Power’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, sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.3%. American Electric Power’s dividend payout ratio (DPR) is currently 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.