AlphaStar Capital Management LLC Purchases New Position in American Electric Power Company, Inc. $AEP

AlphaStar Capital Management LLC purchased a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,074 shares of the company’s stock, valued at approximately $423,000.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in American Electric Power by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 52,269,781 shares of the company’s stock worth $5,711,519,000 after purchasing an additional 579,175 shares during the period. Wellington Management Group LLP grew its position in American Electric Power by 24.3% in the 1st quarter. Wellington Management Group LLP now owns 22,102,537 shares of the company’s stock worth $2,415,144,000 after purchasing an additional 4,323,569 shares during the period. GQG Partners LLC grew its position in American Electric Power by 30.4% in the 1st quarter. GQG Partners LLC now owns 19,631,466 shares of the company’s stock worth $2,145,130,000 after purchasing an additional 4,570,941 shares during the period. Northern Trust Corp grew its position in American Electric Power by 8.0% in the 1st quarter. Northern Trust Corp now owns 5,237,782 shares of the company’s stock worth $572,332,000 after purchasing an additional 386,518 shares during the period. Finally, Nuveen LLC bought a new stake in American Electric Power in the 1st quarter worth approximately $568,042,000. Institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on AEP. Weiss Ratings reaffirmed a “buy (b)” rating on shares of American Electric Power in a research report on Wednesday, October 8th. TD Cowen raised shares of American Electric Power to a “strong-buy” rating in a research report on Thursday. Raymond James Financial reissued an “outperform” rating on shares of American Electric Power in a research report on Thursday. Scotiabank boosted their price objective on shares of American Electric Power from $114.00 to $121.00 and gave the company a “sector perform” rating in a research report on Thursday. Finally, Citigroup boosted their price objective on shares of American Electric Power from $111.00 to $132.00 and gave the company a “neutral” rating in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, American Electric Power presently has an average rating of “Moderate Buy” and a consensus price target of $124.50.

Insiders Place Their Bets

In related news, EVP Kelly J. Ferneau sold 1,006 shares of American Electric Power 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 transaction, the executive vice president owned 5,676 shares in the company, valued at approximately $635,712. The trade was a 15.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of American Electric Power stock in a transaction on Friday, September 12th. The shares were sold at an average price of $108.65, for a total transaction of $543,250.00. Following the transaction, the director owned 40,898 shares in the company, valued at approximately $4,443,567.70. This trade represents a 10.89% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 11,006 shares of company stock worth $1,243,522. 0.07% of the stock is owned by corporate insiders.

American Electric Power Trading Down 1.3%

Shares of AEP stock opened at $120.26 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. American Electric Power Company, Inc. has a 1 year low of $89.91 and a 1 year high of $122.85. The firm has a fifty day moving average price of $112.95 and a 200-day moving average price of $108.52. The company has a market cap of $64.31 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 3.22 and a beta of 0.48.

American Electric Power (NASDAQ:AEP) last released its 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). 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 for the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter last year, the firm posted $1.85 EPS. The firm’s quarterly 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 predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be paid a dividend of $0.95 per share. This is a positive change from American Electric Power’s previous quarterly dividend of $0.93. The ex-dividend date is Monday, November 10th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.2%. American Electric Power’s dividend payout ratio is presently 55.39%.

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.