Magellan Asset Management Ltd Raises Position in American Electric Power Company, Inc. $AEP

Magellan Asset Management Ltd grew its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 9.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 319,218 shares of the company’s stock after buying an additional 28,204 shares during the period. Magellan Asset Management Ltd owned approximately 0.06% of American Electric Power worth $33,122,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Advantage Trust Co raised its stake in American Electric Power by 57.1% during the 2nd quarter. Advantage Trust Co now owns 275 shares of the company’s stock valued at $29,000 after buying an additional 100 shares during the last quarter. Bayforest Capital Ltd bought a new stake in shares of American Electric Power in the first quarter worth $31,000. Missouri Trust & Investment Co purchased a new stake in American Electric Power during the second quarter valued at $31,000. GoalVest Advisory LLC increased its position in American Electric Power by 277.1% during the second quarter. GoalVest Advisory LLC now owns 313 shares of the company’s stock valued at $32,000 after acquiring an additional 230 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. bought a new position in American Electric Power in the first quarter valued at about $33,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AEP. TD Cowen upgraded American Electric Power to a “strong-buy” rating in a report on Thursday, October 30th. The Goldman Sachs Group raised their price target on shares of American Electric Power from $128.00 to $133.00 in a report on Thursday, October 30th. BMO Capital Markets set a $126.00 price objective on shares of American Electric Power in a report on Thursday, October 30th. BTIG Research started coverage on American Electric Power in a report on Tuesday, October 21st. They issued a “neutral” rating on the stock. Finally, Wells Fargo & Company lifted their target price on American Electric Power from $132.00 to $139.00 in a report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $124.50.

American Electric Power Stock Performance

Shares of AEP stock opened at $121.43 on Friday. 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 stock has a market cap of $65.00 billion, a P/E ratio of 17.70, a P/E/G ratio of 3.22 and a beta of 0.52. American Electric Power Company, Inc. has a one year low of $89.91 and a one year high of $122.85. The company has a fifty day moving average price of $113.74 and a two-hundred day moving average price of $108.97.

American Electric Power (NASDAQ:AEP) last released 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 firm had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter last year, the firm earned $1.85 earnings per share. The business’s revenue for the quarter 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 predict that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be paid a dividend of $0.95 per share. The ex-dividend date is Monday, November 10th. This is a boost from American Electric Power’s previous quarterly dividend of $0.93. This represents a $3.80 annualized dividend and a yield of 3.1%. American Electric Power’s dividend payout ratio is currently 55.39%.

Insiders Place Their Bets

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $117.52, for a total value of $587,600.00. Following the sale, the director directly owned 35,898 shares in the company, valued at approximately $4,218,732.96. This trade represents a 12.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kelly J. Ferneau sold 1,006 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $112.00, for a total transaction of $112,672.00. Following the sale, the executive vice president directly owned 5,676 shares in the company, valued at approximately $635,712. The trade was a 15.06% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 11,006 shares of company stock worth $1,243,522. Company 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.