Meyer Handelman Co. Decreases Position in American Electric Power Company, Inc. $AEP

Meyer Handelman Co. decreased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,186 shares of the company’s stock after selling 1,545 shares during the quarter. Meyer Handelman Co.’s holdings in American Electric Power were worth $6,867,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. EQ Wealth Advisors LLC purchased a new stake in American Electric Power during the first quarter worth approximately $25,000. Bank of New Hampshire purchased a new stake in American Electric Power in the first quarter valued at approximately $28,000. Bayforest Capital Ltd purchased a new stake in American Electric Power in the first quarter valued at approximately $31,000. Missouri Trust & Investment Co purchased a new stake in American Electric Power in the second quarter valued at approximately $31,000. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new stake in American Electric Power in the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

AEP has been the subject of a number of research reports. Morgan Stanley reduced their price objective on American Electric Power from $117.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday. Barclays boosted their price objective on American Electric Power from $105.00 to $111.00 and gave the company an “equal weight” rating in a research note on Friday, August 1st. Raymond James Financial reiterated an “outperform” rating and issued a $122.00 price objective (up previously from $115.00) on shares of American Electric Power in a research note on Thursday, July 31st. Jefferies Financial Group reduced their price objective on American Electric Power from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Thursday, September 11th. Finally, Scotiabank boosted their price objective on American Electric Power from $102.00 to $114.00 and gave the company a “sector perform” rating in a research note on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $111.63.

American Electric Power Trading Down 0.9%

NASDAQ:AEP opened at $107.86 on Friday. The firm has a market cap of $57.68 billion, a P/E ratio of 15.77, a PEG ratio of 2.88 and a beta of 0.46. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33. The stock’s 50 day simple moving average is $110.51 and its 200-day simple moving average is $106.40. American Electric Power Company, Inc. has a 12-month low of $89.91 and a 12-month high of $115.36.

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

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were given a $0.93 dividend. The ex-dividend date was Friday, August 8th. This represents a $3.72 annualized dividend and a yield of 3.4%. American Electric Power’s dividend payout ratio is presently 54.39%.

Insider Transactions at American Electric Power

In other American Electric Power news, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction on Friday, September 12th. The stock was 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 approximately $4,443,567.70. This represents a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.07% of the company’s stock.

American Electric Power Company 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.