Legacy Financial Advisors Inc. Makes New $224,000 Investment in American Electric Power Company, Inc. $AEP

Legacy Financial Advisors Inc. bought a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,049 shares of the company’s stock, valued at approximately $224,000.

Several other hedge funds have also bought and sold shares of AEP. EQ Wealth Advisors LLC bought a new position in shares of American Electric Power during the 1st quarter valued at approximately $25,000. Fourth Dimension Wealth LLC purchased a new position in shares of American Electric Power during the 4th quarter worth about $28,000. Bank of New Hampshire purchased a new position in shares of American Electric Power during the 1st quarter worth about $28,000. MJT & Associates Financial Advisory Group Inc. bought a new position in American Electric Power during the 1st quarter valued at about $33,000. Finally, IMA Advisory Services Inc. purchased a new stake in American Electric Power in the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Up 0.8%

Shares of NASDAQ AEP opened at $113.55 on Thursday. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. The business has a fifty day simple moving average of $107.35 and a two-hundred day simple moving average of $105.28. The firm has a market cap of $60.73 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 2.99 and a beta of 0.40. American Electric Power Company, Inc. has a twelve month low of $89.91 and a twelve month high of $115.36.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.16. The business had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.85 billion. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%.The business’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.25 EPS. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. Analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be issued a $0.93 dividend. The ex-dividend date is Friday, August 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.3%. American Electric Power’s payout ratio is currently 54.39%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. UBS Group boosted their target price on American Electric Power from $100.00 to $110.00 and gave the company a “sell” rating in a research report on Thursday, July 31st. Wells Fargo & Company raised their price target on American Electric Power from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 7th. Morgan Stanley dropped their price objective on American Electric Power from $114.00 to $113.00 and set an “overweight” rating for the company in a report on Thursday, May 22nd. Citigroup increased their target price on American Electric Power from $102.00 to $109.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Finally, Guggenheim lifted their target price on American Electric Power from $109.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Five research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $111.29.

Insider Buying and Selling at American Electric Power

In other news, EVP David Matthew Feinberg sold 8,058 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total transaction of $819,820.92. Following the transaction, the executive vice president directly owned 10,274 shares in the company, valued at approximately $1,045,276.76. This trade represents a 43.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 24,173 shares of company stock valued at $2,467,015. 0.07% of the stock is currently owned by corporate 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.