American Electric Power Company, Inc. $AEP Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 4.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,624,184 shares of the company’s stock after selling 158,290 shares during the period. Bank of New York Mellon Corp’s holdings in American Electric Power were worth $376,045,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Advantage Trust Co increased its holdings in American Electric Power by 57.1% in the 2nd quarter. Advantage Trust Co now owns 275 shares of the company’s stock worth $29,000 after acquiring an additional 100 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in shares of American Electric Power in the first quarter valued at about $31,000. Missouri Trust & Investment Co purchased a new stake in shares of American Electric Power during the second quarter worth about $31,000. GoalVest Advisory LLC raised its position in shares of American Electric Power by 277.1% during the 2nd quarter. GoalVest Advisory LLC now owns 313 shares of the company’s stock worth $32,000 after purchasing an additional 230 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of American Electric Power during the 1st quarter worth about $33,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. BTIG Research began coverage on American Electric Power in a report on Tuesday, October 21st. They issued a “neutral” rating on the stock. Evercore ISI reaffirmed an “outperform” rating on shares of American Electric Power in a research note on Thursday, October 30th. Wells Fargo & Company boosted their price target on American Electric Power from $132.00 to $139.00 in a research report on Thursday, October 30th. BMO Capital Markets set a $126.00 price objective on American Electric Power in a research note on Thursday, October 30th. Finally, Citigroup raised their price objective on American Electric Power from $111.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $124.50.

American Electric Power Price Performance

NASDAQ:AEP opened at $120.30 on Wednesday. American Electric Power Company, Inc. has a one year low of $89.91 and a one year high of $122.85. The stock has a market cap of $64.39 billion, a PE ratio of 17.54, a P/E/G 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 stock has a 50 day moving average price of $113.24 and a 200 day moving average price of $108.71.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Wednesday, October 29th. The company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter in the previous year, the company earned $1.85 earnings per share. 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. Equities research analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Increases Dividend

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

Insider Activity

In other news, EVP Kelly J. Ferneau sold 1,006 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were 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. This represents a 15.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $108.65, for a total value of $543,250.00. Following the completion of 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,006 shares of company stock worth $1,243,522 over the last quarter. 0.07% of the stock is currently owned by company insiders.

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.