Cypress Capital Management LLC WY Sells 415 Shares of American Electric Power Company, Inc. $AEP

Cypress Capital Management LLC WY cut its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 4.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,055 shares of the company’s stock after selling 415 shares during the period. American Electric Power accounts for about 1.1% of Cypress Capital Management LLC WY’s investment portfolio, making the stock its 28th biggest position. Cypress Capital Management LLC WY’s holdings in American Electric Power were worth $1,043,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Magellan Asset Management Ltd boosted its holdings in shares of American Electric Power by 9.7% in the 2nd quarter. Magellan Asset Management Ltd now owns 319,218 shares of the company’s stock worth $33,122,000 after acquiring an additional 28,204 shares in the last quarter. Aviva PLC raised its position in American Electric Power by 4.9% in the 2nd quarter. Aviva PLC now owns 9,086 shares of the company’s stock valued at $943,000 after purchasing an additional 424 shares during the last quarter. RWA Wealth Partners LLC raised its position in American Electric Power by 10.8% in the 2nd quarter. RWA Wealth Partners LLC now owns 8,196 shares of the company’s stock valued at $850,000 after purchasing an additional 799 shares during the last quarter. AGF Management Ltd. boosted its stake in American Electric Power by 23.7% in the second quarter. AGF Management Ltd. now owns 55,918 shares of the company’s stock worth $5,802,000 after purchasing an additional 10,719 shares in the last quarter. Finally, Summit Investment Advisors Inc. grew its holdings in shares of American Electric Power by 1.7% during the first quarter. Summit Investment Advisors Inc. now owns 22,502 shares of the company’s stock worth $2,459,000 after purchasing an additional 369 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Insider Activity

In related news, EVP Kelly J. Ferneau sold 1,006 shares of American Electric Power stock in a transaction that occurred 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 of the company’s stock, valued at $635,712. This trade represents a 15.06% decrease in their position. The transaction was disclosed in a legal 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 the business’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 transaction of $543,250.00. Following the transaction, the director owned 40,898 shares of the company’s stock, valued at approximately $4,443,567.70. This represents a 10.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 11,006 shares of company stock valued at $1,243,522 over the last 90 days. Corporate insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AEP. BMO Capital Markets set a $126.00 price target on American Electric Power in a report on Thursday, October 30th. Raymond James Financial reaffirmed an “outperform” rating on shares of American Electric Power in a research note on Thursday, October 30th. Jefferies Financial Group upped their target price on shares of American Electric Power from $116.00 to $128.00 and gave the stock a “hold” rating in a research report on Thursday, October 16th. Mizuho raised their price target on shares of American Electric Power from $113.00 to $123.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Finally, Barclays boosted their price objective on shares of American Electric Power from $111.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $124.50.

American Electric Power Price Performance

Shares of AEP stock opened at $121.43 on Friday. The firm’s 50 day moving average price is $113.74 and its two-hundred day moving average price is $108.97. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55. American Electric Power Company, Inc. has a 52-week low of $89.91 and a 52-week high of $122.85. The stock has a market cap of $65.00 billion, a PE ratio of 17.70, a PEG ratio of 3.22 and a beta of 0.52.

American Electric Power (NASDAQ:AEP) last posted its quarterly 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 company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same period last year, the company earned $1.85 EPS. The business’s revenue for the quarter 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, analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 3.1%. This is an increase from American Electric Power’s previous quarterly dividend of $0.93. The ex-dividend date is Monday, November 10th. American Electric Power’s dividend payout ratio (DPR) is 55.39%.

American Electric Power 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.