TrueMark Investments LLC Purchases 4,028 Shares of American Electric Power Company, Inc. $AEP

TrueMark Investments LLC increased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 8.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 50,975 shares of the company’s stock after acquiring an additional 4,028 shares during the quarter. American Electric Power accounts for 1.1% of TrueMark Investments LLC’s portfolio, making the stock its 20th largest holding. TrueMark Investments LLC’s holdings in American Electric Power were worth $5,289,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in American Electric Power during the second quarter worth about $8,083,000. Quotient Wealth Partners LLC lifted its position in American Electric Power by 3.6% during the second quarter. Quotient Wealth Partners LLC now owns 3,193 shares of the company’s stock worth $331,000 after purchasing an additional 111 shares during the period. Spirit of America Management Corp NY lifted its position in American Electric Power by 9.3% during the second quarter. Spirit of America Management Corp NY now owns 14,700 shares of the company’s stock worth $1,525,000 after purchasing an additional 1,250 shares during the period. Koshinski Asset Management Inc. lifted its position in American Electric Power by 1.8% during the second quarter. Koshinski Asset Management Inc. now owns 13,284 shares of the company’s stock worth $1,378,000 after purchasing an additional 236 shares during the period. Finally, Hoese & Co LLP bought a new stake in American Electric Power during the second quarter worth about $52,000. Institutional investors own 75.24% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on AEP. Scotiabank upped their price objective on shares of American Electric Power from $102.00 to $114.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 31st. BMO Capital Markets increased their target price on shares of American Electric Power from $121.00 to $127.00 and gave the stock an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. increased their target price on shares of American Electric Power from $115.00 to $121.00 and gave the stock a “neutral” rating in a report on Wednesday. TD Cowen initiated coverage on shares of American Electric Power in a report on Thursday. They issued a “buy” rating and a $133.00 target price for the company. Finally, Cowen initiated coverage on shares of American Electric Power in a report on Wednesday. They issued a “buy” rating for the company. Ten research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, American Electric Power presently has an average rating of “Hold” and a consensus price target of $119.26.

American Electric Power Stock Performance

American Electric Power stock opened at $117.53 on Friday. The business has a 50 day moving average of $111.86 and a 200-day moving average of $107.51. American Electric Power Company, Inc. has a 1 year low of $89.91 and a 1 year high of $120.46. 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 company has a market capitalization of $62.85 billion, a P/E ratio of 17.18, a P/E/G ratio of 3.10 and a beta of 0.48.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data 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 return on equity of 11.55% and a net margin of 17.68%.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 prior year, the firm posted $1.25 earnings per share. The firm’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. On average, equities research analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Friday, August 8th. American Electric Power’s dividend payout ratio is currently 54.39%.

Insider Buying and Selling

In other American Electric Power news, EVP Kelly J. Ferneau sold 1,006 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $112.00, for a total transaction of $112,672.00. Following the completion of the sale, the executive vice president owned 5,676 shares of the company’s stock, valued at approximately $635,712. This represents a 15.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $117.52, for a total transaction of $587,600.00. Following the sale, the director directly owned 35,898 shares of the company’s stock, valued at $4,218,732.96. This represents a 12.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,006 shares of company stock valued at $1,243,522 in the last three months. Insiders own 0.07% of the company’s stock.

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.