Drive Wealth Management LLC Purchases 406 Shares of American Electric Power Company, Inc. $AEP

Drive Wealth Management LLC grew its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 20.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,435 shares of the company’s stock after buying an additional 406 shares during the quarter. Drive Wealth Management LLC’s holdings in American Electric Power were worth $253,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. EQ Wealth Advisors LLC bought a new stake in shares of American Electric Power in the first quarter valued at about $25,000. Bayforest Capital Ltd purchased a new position in American Electric Power during the 1st quarter valued at about $31,000. Missouri Trust & Investment Co bought a new stake in shares of American Electric Power in the 2nd quarter valued at about $31,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of American Electric Power in the 1st quarter worth approximately $33,000. Finally, IMA Advisory Services Inc. bought a new position in shares of American Electric Power during the first quarter valued at approximately $35,000. Institutional investors own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AEP. JPMorgan Chase & Co. boosted their price objective on shares of American Electric Power from $115.00 to $121.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. Mizuho reduced their price target on American Electric Power from $116.00 to $113.00 and set a “neutral” rating for the company in a research report on Tuesday, September 16th. Jefferies Financial Group upped their price objective on American Electric Power from $116.00 to $128.00 and gave the stock a “hold” rating in a research note on Thursday. Cowen assumed coverage on American Electric Power in a research note on Wednesday, October 15th. They issued a “buy” rating on the stock. Finally, LADENBURG THALM/SH SH reduced their target price 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. 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $119.26.

Insider Buying and Selling at American Electric Power

In other American Electric Power news, EVP Kelly J. Ferneau sold 1,006 shares of American Electric Power stock in a transaction dated Thursday, October 2nd. The stock was 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. The trade was a 15.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $117.52, for a total value of $587,600.00. Following the completion of the transaction, the director directly owned 35,898 shares in the company, valued at $4,218,732.96. This represents a 12.23% 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 over the last quarter. Insiders own 0.07% of the company’s stock.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $117.82 on Tuesday. American Electric Power Company, Inc. has a fifty-two week low of $89.91 and a fifty-two week high of $120.46. 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 company has a market cap of $63.01 billion, a PE ratio of 17.23, a P/E/G ratio of 3.10 and a beta of 0.48. The business has a 50-day simple moving average of $111.98 and a two-hundred day simple moving average of $107.59.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.27 by $0.16. The firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $4.85 billion. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. American Electric Power’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $1.25 EPS. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. As a group, equities analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Company 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.