Perigon Wealth Management LLC Boosts Stock Position in American Electric Power Company, Inc. $AEP

Perigon Wealth Management LLC raised its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 55.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,118 shares of the company’s stock after buying an additional 7,527 shares during the period. Perigon Wealth Management LLC’s holdings in American Electric Power were worth $2,376,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AEP. Sovereign Financial Group Inc. raised its position in shares of American Electric Power by 3.8% during the 3rd quarter. Sovereign Financial Group Inc. now owns 7,358 shares of the company’s stock worth $828,000 after acquiring an additional 272 shares in the last quarter. Mayflower Financial Advisors LLC purchased a new position in American Electric Power in the third quarter valued at approximately $214,000. NovaPoint Capital LLC acquired a new stake in American Electric Power during the third quarter worth approximately $1,210,000. Apollon Wealth Management LLC lifted its position in shares of American Electric Power by 9.6% during the 3rd quarter. Apollon Wealth Management LLC now owns 28,765 shares of the company’s stock worth $3,236,000 after buying an additional 2,525 shares during the last quarter. Finally, Apollon Financial LLC boosted its holdings in shares of American Electric Power by 1.1% in the 3rd quarter. Apollon Financial LLC now owns 15,646 shares of the company’s stock valued at $1,760,000 after buying an additional 175 shares in the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Trading Up 0.1%

Shares of AEP stock opened at $115.77 on Tuesday. The company has a market capitalization of $61.83 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 3.02 and a beta of 0.61. The company has a current ratio of 0.69, a quick ratio of 0.53 and a debt-to-equity ratio of 1.41. The business’s 50 day moving average is $118.63 and its two-hundred day moving average is $112.73. American Electric Power Company, Inc. has a twelve month low of $89.91 and a twelve month high of $124.80.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.80 earnings per share 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 analyst estimates of $5.65 billion. American Electric Power had a return on equity of 11.00% and a net margin of 17.23%.American Electric Power’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.85 earnings per share. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. Equities analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Monday, November 10th were issued a dividend of $0.95 per share. 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 3.3%. The ex-dividend date of this dividend was Monday, November 10th. American Electric Power’s dividend payout ratio is currently 55.39%.

Insider Transactions at American Electric Power

In other American Electric Power news, EVP Kelly J. Ferneau sold 1,006 shares of American Electric Power stock in a transaction that occurred 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 sale, the executive vice president owned 5,676 shares of the company’s stock, valued at approximately $635,712. The trade was a 15.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $115.07, for a total value of $575,350.00. Following the transaction, the director directly owned 25,898 shares of the company’s stock, valued at approximately $2,980,082.86. This trade represents a 16.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 16,006 shares of company stock valued at $1,883,522. 0.07% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Evercore ISI reiterated an “outperform” rating on shares of American Electric Power in a research note on Thursday, October 30th. The Goldman Sachs Group lifted their target price on American Electric Power from $128.00 to $133.00 in a research report on Thursday, October 30th. Williams Trading set a $137.00 target price on American Electric Power in a research report on Thursday, December 18th. Morgan Stanley set a $120.00 price target on American Electric Power in a research report on Tuesday, December 16th. Finally, Citigroup boosted their price objective on American Electric Power from $111.00 to $132.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, American Electric Power has a consensus rating of “Moderate Buy” and an average price target of $126.87.

American Electric Power Profile

American Electric Power (NASDAQ: AEP) is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.