American Electric Power (NASDAQ:AEP) Director Benjamin Fowke III Sells 5,000 Shares of Stock

American Electric Power Company, Inc. (NASDAQ:AEP) Director Benjamin Fowke III sold 5,000 shares of American Electric Power stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $117.52, for a total value of $587,600.00. Following the completion of the sale, the director owned 35,898 shares of the company’s stock, valued at approximately $4,218,732.96. The trade was a 12.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

American Electric Power Trading Up 1.4%

Shares of AEP stock opened at $118.38 on Wednesday. The company has a market cap of $63.31 billion, a P/E ratio of 17.31, a PEG ratio of 3.09 and a beta of 0.48. The stock has a 50 day simple moving average of $111.58 and a two-hundred day simple moving average of $107.31. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55. American Electric Power Company, Inc. has a fifty-two week low of $89.91 and a fifty-two week high of $119.06.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.16. The business had revenue of $5.09 billion during 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 firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period 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. Research analysts forecast 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 announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, August 8th. American Electric Power’s payout ratio is presently 54.39%.

Institutional Investors Weigh In On American Electric Power

Several institutional investors have recently bought and sold shares of the stock. Cary Street Partners Investment Advisory LLC grew its holdings in American Electric Power by 12.7% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 791 shares of the company’s stock worth $82,000 after buying an additional 89 shares in the last quarter. Gilbert & Cook Inc. grew its holdings in American Electric Power by 2.3% during the second quarter. Gilbert & Cook Inc. now owns 4,036 shares of the company’s stock worth $419,000 after buying an additional 91 shares in the last quarter. Eagle Strategies LLC boosted its position in American Electric Power by 1.7% in the second quarter. Eagle Strategies LLC now owns 5,515 shares of the company’s stock worth $572,000 after purchasing an additional 94 shares during the last quarter. Clarius Group LLC boosted its position in American Electric Power by 2.5% in the first quarter. Clarius Group LLC now owns 3,966 shares of the company’s stock worth $433,000 after purchasing an additional 95 shares during the last quarter. Finally, McIlrath & Eck LLC boosted its position in American Electric Power by 3.2% in the first quarter. McIlrath & Eck LLC now owns 3,147 shares of the company’s stock worth $344,000 after purchasing an additional 99 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AEP shares. Barclays lifted their target price on American Electric Power from $111.00 to $117.00 and gave the stock an “equal weight” rating in a report on Tuesday. Raymond James Financial restated an “outperform” rating and set a $122.00 price objective (up previously from $115.00) on shares of American Electric Power in a report on Thursday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of American Electric Power in a report on Wednesday, October 8th. Evercore ISI initiated coverage on American Electric Power in a report on Monday, October 6th. They set an “outperform” rating and a $133.00 price objective for the company. Finally, UBS Group boosted their price objective on American Electric Power from $110.00 to $116.00 and gave the company a “sell” rating in a report on Friday. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, American Electric Power presently has a consensus rating of “Hold” and a consensus target price of $114.90.

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.