Checchi Capital Advisers LLC Trims Stake in American Electric Power Company, Inc. $AEP

Checchi Capital Advisers LLC reduced its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 6.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,789 shares of the company’s stock after selling 445 shares during the quarter. Checchi Capital Advisers LLC’s holdings in American Electric Power were worth $704,000 as of its most recent filing with the Securities & Exchange Commission.

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

American Electric Power Stock Up 0.5%

American Electric Power stock opened at $114.06 on Monday. 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 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 Company, Inc. has a 1-year low of $89.91 and a 1-year high of $115.36. The business has a fifty day moving average price of $110.87 and a 200-day moving average price of $106.71.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.16. The firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. Equities research analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, August 8th. American Electric Power’s payout ratio is presently 54.39%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AEP. Weiss Ratings reaffirmed a “buy (b)” rating on shares of American Electric Power in a research report on Saturday, September 27th. Jefferies Financial Group dropped their target price on American Electric Power from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Thursday, September 11th. Barclays increased their target price on American Electric Power from $105.00 to $111.00 and gave the company an “equal weight” rating in a research report on Friday, August 1st. Raymond James Financial reaffirmed an “outperform” rating and set a $122.00 target price (up previously from $115.00) on shares of American Electric Power in a research report on Thursday, July 31st. Finally, Mizuho dropped their target price on 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. Six investment 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $111.63.

Insider Activity

In other American Electric Power 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 sale, the director owned 40,898 shares in the company, valued at approximately $4,443,567.70. The trade was a 10.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the executive vice president owned 5,676 shares in the company, valued at approximately $635,712. The trade was a 15.06% decrease in their position. The disclosure for this sale can be found here. 0.07% of the stock is currently owned by insiders.

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.