American Electric Power Company, Inc. $AEP Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. reduced its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 8.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,708 shares of the company’s stock after selling 3,199 shares during the quarter. Pinnacle Associates Ltd.’s holdings in American Electric Power were worth $3,601,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in American Electric Power by 1.1% during the first 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 last quarter. Wellington Management Group LLP raised its holdings in American Electric Power by 24.3% during the first 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 last quarter. GQG Partners LLC raised its holdings in American Electric Power by 30.4% during the first 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 last quarter. Northern Trust Corp raised its holdings in American Electric Power by 8.0% during the first 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 last quarter. Finally, Nuveen LLC acquired a new position in American Electric Power during the first quarter worth $568,042,000. 75.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AEP. Weiss Ratings reaffirmed a “buy (b)” rating on shares of American Electric Power in a report on Wednesday, October 8th. Wells Fargo & Company lifted their price objective on American Electric Power from $132.00 to $139.00 in a report on Thursday. LADENBURG THALM/SH SH reduced their price objective on American Electric Power from $112.00 to $108.50 and set a “neutral” rating for the company in a report on Wednesday, September 10th. Evercore ISI reissued an “outperform” rating on shares of American Electric Power in a report on Thursday. Finally, Raymond James Financial reissued an “outperform” rating on shares of American Electric Power in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, American Electric Power currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.50.

American Electric Power Stock Performance

NASDAQ AEP opened at $120.26 on Friday. American Electric Power Company, Inc. has a fifty-two week low of $89.91 and a fifty-two week high of $122.85. The stock has a market cap of $64.31 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 3.22 and a beta of 0.48. The business has a fifty day moving average of $112.95 and a 200-day moving average of $108.52. 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 announced its quarterly earnings data on Wednesday, October 29th. The company reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.65 billion. American Electric Power had a net margin of 17.23% and a return on equity of 11.29%. American Electric Power’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.85 EPS. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. As a group, analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be given a $0.95 dividend. This is an increase from American Electric Power’s previous quarterly dividend of $0.93. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, November 10th. American Electric Power’s dividend payout ratio (DPR) is presently 55.39%.

Insiders Place Their Bets

In other news, EVP Kelly J. Ferneau sold 1,006 shares of American Electric Power stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $112.00, for a total value of $112,672.00. Following the completion of the sale, the executive vice president owned 5,676 shares of the company’s stock, valued at $635,712. The trade was a 15.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of American Electric Power stock in a transaction 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 completion of the sale, the director directly owned 35,898 shares of the company’s stock, valued at approximately $4,218,732.96. This represents a 12.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 11,006 shares of company stock valued at $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.