Foster & Motley Inc. cut its stake in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 5.1% in the second quarter, Holdings Channel reports. The firm owned 2,169 shares of the company’s stock after selling 116 shares during the period. Foster & Motley Inc.’s holdings in American Electric Power were worth $225,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Kingswood Wealth Advisors LLC raised its position in American Electric Power by 14.8% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,331 shares of the company’s stock worth $364,000 after buying an additional 430 shares during the last quarter. Venture Visionary Partners LLC lifted its stake in shares of American Electric Power by 7.3% in the 2nd quarter. Venture Visionary Partners LLC now owns 68,233 shares of the company’s stock valued at $7,080,000 after purchasing an additional 4,616 shares during the period. SteelPeak Wealth LLC acquired a new position in shares of American Electric Power in the 2nd quarter valued at $7,722,000. GAMMA Investing LLC lifted its stake in shares of American Electric Power by 24.5% in the 1st quarter. GAMMA Investing LLC now owns 19,678 shares of the company’s stock valued at $2,150,000 after purchasing an additional 3,867 shares during the period. Finally, Vigilare Wealth Management purchased a new stake in American Electric Power in the 2nd quarter worth $556,000. 75.24% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at American Electric Power
In other American Electric Power news, Director Benjamin G. S. Fowke III sold 5,000 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $108.65, for a total value of $543,250.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kelly J. Ferneau sold 1,006 shares of the company’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 completion of the transaction, the executive vice president directly owned 5,676 shares in the company, valued at $635,712. The trade was a 15.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,006 shares of company stock worth $1,243,522 in the last ninety days. 0.07% of the stock is currently owned by corporate insiders.
American Electric Power Price Performance
American Electric Power (NASDAQ:AEP – Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, topping 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 company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the previous year, the firm earned $1.25 earnings per share. American Electric Power’s quarterly revenue 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. Analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.
American Electric Power Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were given a $0.93 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.2%. American Electric Power’s dividend payout ratio is presently 54.39%.
Wall Street Analyst Weigh In
Several brokerages recently commented on AEP. Mizuho cut their price target on shares of American Electric Power from $116.00 to $113.00 and set a “neutral” rating for the company in a report on Tuesday, September 16th. JPMorgan Chase & Co. boosted their price target on shares of American Electric Power from $115.00 to $121.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Cowen began coverage on shares of American Electric Power in a report on Wednesday. They issued a “buy” rating for the company. Morgan Stanley lowered 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 note on Thursday, September 25th. Finally, Scotiabank lifted their target price on shares of American Electric Power from $102.00 to $114.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 31st. Ten research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, American Electric Power presently has an average rating of “Hold” and an average target price of $119.26.
Check Out Our Latest Stock Report on American Electric Power
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.
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