WESPAC Advisors LLC Takes $615,000 Position in American Electric Power Company, Inc. $AEP

WESPAC Advisors LLC bought a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,924 shares of the company’s stock, valued at approximately $615,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AEP. EQ Wealth Advisors LLC purchased a new position in American Electric Power in the 1st quarter valued at about $25,000. Bayforest Capital Ltd purchased a new position in American Electric Power in the 1st quarter valued at about $31,000. Missouri Trust & Investment Co purchased a new position in American Electric Power in the 2nd quarter valued at about $31,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in American Electric Power in the 1st quarter valued at about $33,000. Finally, IMA Advisory Services Inc. purchased a new position in American Electric Power in the 1st quarter valued at about $35,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays raised their price target on shares of American Electric Power from $105.00 to $111.00 and gave the company an “equal weight” rating in a research note on Friday, August 1st. Mizuho decreased their price target on shares of American Electric Power from $116.00 to $113.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 16th. LADENBURG THALM/SH SH decreased their price target on shares of American Electric Power from $112.00 to $108.50 and set a “neutral” rating on the stock in a research note on Wednesday, September 10th. UBS Group raised their price target on shares of American Electric Power from $100.00 to $110.00 and gave the company a “sell” rating in a research note on Thursday, July 31st. Finally, Raymond James Financial reissued an “outperform” rating and issued a $122.00 target price (up from $115.00) on shares of American Electric Power in a research note on Thursday, July 31st. Seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, American Electric Power presently has a consensus rating of “Hold” and an average target price of $114.10.

American Electric Power Trading Up 2.2%

AEP opened at $118.16 on Wednesday. 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 company’s 50 day simple moving average is $111.20 and its two-hundred day simple moving average is $106.86. American Electric Power Company, Inc. has a 1-year low of $89.91 and a 1-year high of $119.06. The firm has a market capitalization of $63.19 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 3.06 and a beta of 0.48.

American Electric Power (NASDAQ:AEP) last released its earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.16. The business had revenue of $5.09 billion for 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%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the company posted $1.25 EPS. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. Analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were issued a dividend of $0.93 per share. The ex-dividend date was Friday, August 8th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.1%. American Electric Power’s dividend payout ratio (DPR) is currently 54.39%.

Insider Buying and Selling

In other news, EVP Kelly J. Ferneau sold 1,006 shares of the firm’s 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 sale, the executive vice president owned 5,676 shares in the company, valued at $635,712. This trade represents a 15.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $108.65, for a total transaction of $543,250.00. Following the sale, the director owned 40,898 shares of the company’s stock, valued at $4,443,567.70. This represents a 10.89% decrease in their position. The disclosure for this sale can be found here. 0.07% of the stock is owned by company insiders.

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.