Pittenger & Anderson Inc. Boosts Stake in American Electric Power Company, Inc. $AEP

Pittenger & Anderson Inc. grew its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,830 shares of the company’s stock after buying an additional 1,005 shares during the quarter. Pittenger & Anderson Inc.’s holdings in American Electric Power were worth $4,652,000 at the end of the most recent quarter.

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

Insider Activity

In related news, 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 transaction of $112,672.00. Following the transaction, the executive vice president owned 5,676 shares in the company, valued at $635,712. The trade was a 15.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $108.65, for a total transaction of $543,250.00. Following the transaction, the director owned 40,898 shares in the company, valued at $4,443,567.70. This represents a 10.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,006 shares of company stock worth $1,243,522 in the last quarter. 0.07% of the stock is owned by corporate insiders.

American Electric Power Price Performance

AEP stock opened at $117.82 on Tuesday. The firm’s 50-day moving average price is $111.98 and its two-hundred day moving average price is $107.59. American Electric Power Company, Inc. has a 12-month low of $89.91 and a 12-month high of $120.46. The stock has a market capitalization of $63.01 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 3.10 and a beta of 0.48. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33.

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 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 firm had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the previous year, the company earned $1.25 earnings per share. The company’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, equities analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on AEP shares. Morgan Stanley decreased 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 report on Thursday, September 25th. UBS Group lifted their target price on shares of American Electric Power from $110.00 to $116.00 and gave the stock a “sell” rating in a research report on Friday, October 10th. LADENBURG THALM/SH SH decreased their target price on shares of American Electric Power from $112.00 to $108.50 and set a “neutral” rating on the stock in a research report on Wednesday, September 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of American Electric Power in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group lifted their target price on shares of American Electric Power from $125.00 to $128.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Ten investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $119.26.

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.