Agate Pass Investment Management LLC Decreases Position in American Electric Power Company, Inc. $AEP

Agate Pass Investment Management LLC decreased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 48.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,985 shares of the company’s stock after selling 3,775 shares during the quarter. Agate Pass Investment Management LLC’s holdings in American Electric Power were worth $413,000 as of its most recent SEC filing.

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. Bayforest Capital Ltd purchased a new stake in American Electric Power during the first quarter worth approximately $31,000. Missouri Trust & Investment Co purchased a new stake in American Electric Power during the second quarter worth approximately $31,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in American Electric Power during the first quarter worth approximately $33,000. Finally, IMA Advisory Services Inc. purchased a new stake in American Electric Power in the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AEP shares. Evercore ISI started coverage on American Electric Power in a research note on Monday. They issued an “outperform” rating and a $133.00 price objective for the company. Mizuho reduced their price objective on American Electric Power from $116.00 to $113.00 and set a “neutral” rating for the company in a research note on Tuesday, September 16th. 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. 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, 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. Seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $114.50.

American Electric Power Price Performance

American Electric Power stock opened at $117.04 on Friday. American Electric Power Company, Inc. has a 12 month low of $89.91 and a 12 month high of $119.06. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.41. The business has a 50 day simple moving average of $111.44 and a 200-day simple moving average of $107.13. The stock has a market capitalization of $62.59 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 3.09 and a beta of 0.48.

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

American Electric Power Dividend Announcement

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 3.2%. American Electric Power’s dividend payout ratio is presently 54.39%.

Insider Buying and Selling 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. Also, EVP Kelly J. Ferneau sold 1,006 shares of the stock in a transaction 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 completion of the transaction, the executive vice president owned 5,676 shares of the company’s stock, valued at $635,712. The trade was a 15.06% decrease in their position. The disclosure for this sale can be found here. Corporate 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.