American Electric Power Company, Inc. $AEP Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.3% in the third quarter, Holdings Channel.com reports. The fund owned 4,632,163 shares of the company’s stock after selling 158,124 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in American Electric Power were worth $521,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new stake in shares of American Electric Power during the third quarter worth about $26,000. Meeder Asset Management Inc. purchased a new position in American Electric Power during the 3rd quarter worth approximately $26,000. Advantage Trust Co increased its position in American Electric Power by 57.1% during the second quarter. Advantage Trust Co now owns 275 shares of the company’s stock worth $29,000 after buying an additional 100 shares during the period. Montag A & Associates Inc. increased its position in American Electric Power by 166.0% during the second quarter. Montag A & Associates Inc. now owns 282 shares of the company’s stock worth $29,000 after buying an additional 176 shares during the period. Finally, Missouri Trust & Investment Co purchased a new stake in American Electric Power in the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

AEP has been the topic of a number of research reports. Weiss Ratings restated a “buy (b)” rating on shares of American Electric Power in a research report on Wednesday, October 8th. Morgan Stanley set a $120.00 price target on shares of American Electric Power in a research note on Tuesday, December 16th. Wells Fargo & Company raised their price objective on shares of American Electric Power from $132.00 to $139.00 in a research report on Thursday, October 30th. JPMorgan Chase & Co. upped their target price on shares of American Electric Power from $121.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of American Electric Power in a research note on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, American Electric Power has an average rating of “Moderate Buy” and a consensus target price of $127.13.

Insider Activity at American Electric Power

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $115.07, for a total transaction of $575,350.00. Following the transaction, the director directly owned 25,898 shares of the company’s stock, valued at $2,980,082.86. This represents a 16.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.07% of the company’s stock.

American Electric Power Price Performance

Shares of AEP opened at $119.96 on Monday. 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 stock’s 50 day moving average is $117.93 and its two-hundred day moving average is $114.10. American Electric Power Company, Inc. has a twelve month low of $96.80 and a twelve month high of $124.80. The firm has a market capitalization of $64.07 billion, a PE ratio of 17.49, a P/E/G ratio of 2.87 and a beta of 0.63.

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 analysts’ consensus estimates of $1.81 by ($0.01). The business had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.65 billion. American Electric Power had a return on equity of 11.00% 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 last year, the company posted $1.85 earnings per share. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. Research analysts anticipate 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 was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 3.2%. This is an increase from American Electric Power’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, November 10th. American Electric Power’s dividend payout ratio is 55.39%.

American Electric Power Company 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.