ProShare Advisors LLC Increases Stake in American Electric Power Company, Inc. $AEP

ProShare Advisors LLC grew its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 6.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 831,349 shares of the company’s stock after purchasing an additional 52,282 shares during the quarter. ProShare Advisors LLC owned approximately 0.16% of American Electric Power worth $86,261,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Gilbert & Cook Inc. boosted its position in American Electric Power by 2.3% during the second quarter. Gilbert & Cook Inc. now owns 4,036 shares of the company’s stock worth $419,000 after acquiring an additional 91 shares during the last quarter. Eagle Strategies LLC raised its holdings in American Electric Power by 1.7% in the 2nd quarter. Eagle Strategies LLC now owns 5,515 shares of the company’s stock valued at $572,000 after acquiring an additional 94 shares during the last quarter. McIlrath & Eck LLC lifted its stake in American Electric Power by 3.2% in the 1st quarter. McIlrath & Eck LLC now owns 3,147 shares of the company’s stock worth $344,000 after purchasing an additional 99 shares in the last quarter. Advantage Trust Co boosted its holdings in shares of American Electric Power by 57.1% during the 2nd quarter. Advantage Trust Co now owns 275 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares during the last quarter. Finally, Taylor Financial Group Inc. boosted its holdings in shares of American Electric Power by 1.9% during the 2nd quarter. Taylor Financial Group Inc. now owns 5,376 shares of the company’s stock worth $558,000 after purchasing an additional 100 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Price Performance

NASDAQ:AEP opened at $122.56 on Tuesday. American Electric Power Company, Inc. has a 52 week low of $89.91 and a 52 week high of $123.31. The stock’s fifty day moving average is $113.97 and its two-hundred day moving average is $109.10. The company has a market capitalization of $65.46 billion, a P/E ratio of 17.87, a P/E/G ratio of 3.22 and a beta of 0.52. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33.

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

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be paid a $0.95 dividend. This is a positive change from American Electric Power’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Monday, November 10th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.1%. American Electric Power’s payout ratio is presently 55.39%.

Analyst Upgrades and Downgrades

Several research firms recently commented on AEP. Morgan Stanley increased their price target on American Electric Power from $123.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. BMO Capital Markets set a $126.00 target price on American Electric Power in a report on Thursday, October 30th. Wells Fargo & Company lifted their price target on American Electric Power from $132.00 to $139.00 in a report on Thursday, October 30th. Evercore ISI reissued an “outperform” rating on shares of American Electric Power in a research report on Thursday, October 30th. Finally, The Goldman Sachs Group upped their price objective on shares of American Electric Power from $128.00 to $133.00 in a report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $124.50.

Insider Activity at American Electric Power

In related news, EVP Kelly J. Ferneau sold 1,006 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 5,676 shares of the company’s stock, 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 hyperlink. 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 shares were sold at an average price of $108.65, for a total value of $543,250.00. Following the completion of the sale, the director directly owned 40,898 shares in the company, valued at approximately $4,443,567.70. The trade was a 10.89% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 11,006 shares of company stock worth $1,243,522. Company insiders own 0.07% of the company’s stock.

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.