State of Michigan Retirement System Has $15.07 Million Stock Holdings in American Electric Power Company, Inc. $AEP

State of Michigan Retirement System grew its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 145,258 shares of the company’s stock after purchasing an additional 600 shares during the period. State of Michigan Retirement System’s holdings in American Electric Power were worth $15,072,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AEP. Brighton Jones LLC raised its holdings in American Electric Power by 11.5% in the fourth quarter. Brighton Jones LLC now owns 10,601 shares of the company’s stock worth $978,000 after purchasing an additional 1,095 shares during the period. D.A. Davidson & CO. raised its holdings in American Electric Power by 4.3% in the first quarter. D.A. Davidson & CO. now owns 39,773 shares of the company’s stock worth $4,346,000 after purchasing an additional 1,652 shares during the period. Silver Oak Securities Incorporated raised its holdings in American Electric Power by 27.1% in the first quarter. Silver Oak Securities Incorporated now owns 2,054 shares of the company’s stock worth $220,000 after purchasing an additional 438 shares during the period. OneDigital Investment Advisors LLC raised its holdings in shares of American Electric Power by 5.9% during the first quarter. OneDigital Investment Advisors LLC now owns 12,547 shares of the company’s stock worth $1,371,000 after acquiring an additional 694 shares during the period. Finally, HM Payson & Co. raised its holdings in shares of American Electric Power by 12.5% during the first quarter. HM Payson & Co. now owns 8,052 shares of the company’s stock worth $880,000 after acquiring an additional 893 shares during the period. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AEP has been the topic of a number of research analyst reports. Scotiabank raised their price objective on shares of American Electric Power from $114.00 to $121.00 and gave the stock a “sector perform” rating in a report on Thursday. Raymond James Financial restated an “outperform” rating on shares of American Electric Power in a report on Thursday. Citigroup raised their price objective on shares of American Electric Power from $111.00 to $132.00 and gave the stock a “neutral” rating in a report on Friday. Cowen initiated coverage on shares of American Electric Power in a report on Wednesday, October 15th. They set a “buy” rating on the stock. Finally, Jefferies Financial Group raised their price objective on shares of American Electric Power from $116.00 to $128.00 and gave the stock a “hold” rating in a report on Thursday, October 16th. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $124.50.

American Electric Power Stock Performance

Shares of AEP stock opened at $120.26 on Monday. The company has a market capitalization of $64.31 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 3.22 and a beta of 0.48. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55. The company has a 50-day simple moving average of $112.95 and a 200 day simple moving average of $108.53. American Electric Power Company, Inc. has a 52 week low of $89.91 and a 52 week high of $122.85.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Wednesday, October 29th. The company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.81 by ($0.01). The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.85 EPS. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. On average, sell-side 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, November 10th. This is a boost from American Electric Power’s previous quarterly dividend of $0.93. American Electric Power’s dividend payout ratio (DPR) is currently 55.39%.

Insider Buying and Selling

In other American Electric Power news, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction that occurred 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 $4,443,567.70. This represents a 10.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kelly J. Ferneau sold 1,006 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have 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.