American Electric Power Company, Inc. $AEP Position Trimmed by Cidel Asset Management Inc.

Cidel Asset Management Inc. reduced its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,735 shares of the company’s stock after selling 119 shares during the quarter. Cidel Asset Management Inc.’s holdings in American Electric Power were worth $388,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of AEP. Chicago Partners Investment Group LLC raised its stake in American Electric Power by 45.4% during the second quarter. Chicago Partners Investment Group LLC now owns 4,602 shares of the company’s stock worth $501,000 after acquiring an additional 1,437 shares during the period. Aull & Monroe Investment Management Corp grew its stake in American Electric Power by 3.9% during the 2nd quarter. Aull & Monroe Investment Management Corp now owns 4,754 shares of the company’s stock worth $493,000 after buying an additional 180 shares during the last quarter. TrueMark Investments LLC increased its position in American Electric Power by 8.6% in the second quarter. TrueMark Investments LLC now owns 50,975 shares of the company’s stock worth $5,289,000 after buying an additional 4,028 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in American Electric Power in the second quarter valued at $8,083,000. Finally, Quotient Wealth Partners LLC boosted its holdings in shares of American Electric Power by 3.6% during the second quarter. Quotient Wealth Partners LLC now owns 3,193 shares of the company’s stock valued at $331,000 after acquiring an additional 111 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 recently weighed in on AEP. Mizuho dropped their price objective on shares of American Electric Power from $116.00 to $113.00 and set a “neutral” rating on the stock in a report on Tuesday, September 16th. Weiss Ratings restated a “buy (b)” rating on shares of American Electric Power in a research report on Wednesday, October 8th. UBS Group raised their price target on shares of American Electric Power from $110.00 to $116.00 and gave the company a “sell” rating in a research note on Friday, October 10th. Morgan Stanley cut their price target 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. Finally, TD Cowen initiated coverage on American Electric Power in a report on Thursday. They issued a “buy” rating and a $133.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $119.26.

Insider Activity

In other news, EVP Kelly J. Ferneau sold 1,006 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president owned 5,676 shares in the company, valued at approximately $635,712. This trade represents a 15.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 40,898 shares in the company, valued at $4,443,567.70. The trade was a 10.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,006 shares of company stock valued at $1,243,522 in the last ninety days. Company insiders own 0.07% of the company’s stock.

American Electric Power Stock Performance

Shares of NASDAQ:AEP opened at $117.53 on Monday. The company has a 50 day moving average of $111.86 and a 200-day moving average of $107.49. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33. The firm has a market cap 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 Company, Inc. has a twelve month low of $89.91 and a twelve month high of $120.46.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.27 by $0.16. The firm had revenue of $5.09 billion for 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 firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.25 earnings per share. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. As a group, analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

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

American Electric Power 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.