State of Michigan Retirement System Has $15.07 Million Position in American Electric Power Company, Inc. $AEP

State of Michigan Retirement System grew its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 0.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 145,258 shares of the company’s stock after purchasing an additional 600 shares during the quarter. State of Michigan Retirement System’s holdings in American Electric Power were worth $15,072,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in AEP. Brighton Jones LLC raised its position in shares of American Electric Power by 11.5% in the 4th quarter. Brighton Jones LLC now owns 10,601 shares of the company’s stock valued at $978,000 after buying an additional 1,095 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of American Electric Power by 4.3% in the 1st quarter. D.A. Davidson & CO. now owns 39,773 shares of the company’s stock valued at $4,346,000 after buying an additional 1,652 shares in the last quarter. Silver Oak Securities Incorporated raised its position in shares of American Electric Power by 27.1% in the 1st quarter. Silver Oak Securities Incorporated now owns 2,054 shares of the company’s stock valued at $220,000 after buying an additional 438 shares in the last quarter. OneDigital Investment Advisors LLC raised its position in shares of American Electric Power by 5.9% in the 1st quarter. OneDigital Investment Advisors LLC now owns 12,547 shares of the company’s stock valued at $1,371,000 after buying an additional 694 shares in the last quarter. Finally, HM Payson & Co. raised its position in shares of American Electric Power by 12.5% in the 1st quarter. HM Payson & Co. now owns 8,052 shares of the company’s stock valued at $880,000 after buying an additional 893 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Trading Down 1.3%

Shares of NASDAQ AEP opened at $120.26 on Monday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55. American Electric Power Company, Inc. has a 52-week low of $89.91 and a 52-week high of $122.85. The firm has a 50 day moving average price of $112.95 and a two-hundred day moving average price of $108.53. The stock has a market cap of $64.31 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 3.22 and a beta of 0.48.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.01). American Electric Power had a net margin of 17.23% and a return on equity of 11.29%. The business had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same quarter last year, the company posted $1.85 earnings per share. The company’s revenue was up 10.9% compared to the same quarter last year. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. As a group, equities analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be given a $0.95 dividend. This is an increase from American Electric Power’s previous quarterly dividend of $0.93. The ex-dividend date is Monday, November 10th. This represents a $3.80 annualized dividend and a yield of 3.2%. American Electric Power’s dividend payout ratio is currently 55.39%.

Insider Activity at American Electric Power

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $108.65, for a total value of $543,250.00. Following the sale, the director directly owned 40,898 shares of the company’s stock, valued at approximately $4,443,567.70. This represents a 10.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kelly J. Ferneau sold 1,006 shares of the company’s stock in a transaction 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 directly owned 5,676 shares in the company, valued at approximately $635,712. This represents a 15.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 11,006 shares of company stock valued at $1,243,522. Corporate insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Evercore ISI reiterated an “outperform” rating on shares of American Electric Power in a research report on Thursday. Cowen assumed coverage on shares of American Electric Power in a research report on Wednesday, October 15th. They set a “buy” rating for the company. Jefferies Financial Group upped their price objective on shares of American Electric Power from $116.00 to $128.00 and gave the stock a “hold” rating in a research report on Thursday, October 16th. Raymond James Financial reiterated an “outperform” rating on shares of American Electric Power in a research report on Thursday. Finally, BTIG Research assumed coverage on shares of American Electric Power in a research report on Tuesday, October 21st. They set a “neutral” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.50.

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.