Kanawha Capital Management LLC Acquires 375 Shares of American Electric Power Company, Inc. $AEP

Kanawha Capital Management LLC boosted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 19.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,328 shares of the company’s stock after buying an additional 375 shares during the quarter. Kanawha Capital Management LLC’s holdings in American Electric Power were worth $242,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kingswood Wealth Advisors LLC boosted its stake in American Electric Power by 14.8% during the first quarter. Kingswood Wealth Advisors LLC now owns 3,331 shares of the company’s stock worth $364,000 after buying an additional 430 shares during the period. Ritholtz Wealth Management purchased a new position in American Electric Power during the first quarter worth $262,000. Venture Visionary Partners LLC boosted its stake in American Electric Power by 7.3% during the second quarter. Venture Visionary Partners LLC now owns 68,233 shares of the company’s stock worth $7,080,000 after buying an additional 4,616 shares during the period. SteelPeak Wealth LLC purchased a new position in American Electric Power during the second quarter worth $7,722,000. Finally, GAMMA Investing LLC boosted its stake in American Electric Power by 24.5% during the first quarter. GAMMA Investing LLC now owns 19,678 shares of the company’s stock worth $2,150,000 after buying an additional 3,867 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AEP has been the subject of several recent analyst reports. Jefferies Financial Group lifted their price objective on shares of American Electric Power from $116.00 to $128.00 and gave the stock a “hold” rating in a research note on Thursday. BMO Capital Markets boosted their target price on shares of American Electric Power from $121.00 to $127.00 and gave the company an “outperform” rating in a research note on Thursday. JPMorgan Chase & Co. boosted their target price on shares of American Electric Power from $115.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday. Evercore ISI began coverage on shares of American Electric Power in a research note on Monday, October 6th. They set an “outperform” rating and a $133.00 target price for the company. Finally, Cowen began coverage on shares of American Electric Power in a research note on Wednesday. They set a “buy” rating for the company. Ten 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $119.26.

Insider Activity

In other American Electric Power news, Director Benjamin G. S. Fowke III sold 5,000 shares of the business’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $117.52, for a total value of $587,600.00. Following the completion of the transaction, the director directly owned 35,898 shares in the company, 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 document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kelly J. Ferneau sold 1,006 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $112.00, for a total transaction of $112,672.00. Following the sale, the executive vice president directly owned 5,676 shares of the company’s stock, valued at approximately $635,712. The trade was a 15.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,006 shares of company stock valued at $1,243,522 over the last 90 days. 0.07% of the stock is currently owned by corporate insiders.

American Electric Power Stock Performance

AEP stock opened at $117.53 on Friday. 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 moving average price of $111.86 and a 200 day moving average price of $107.51. The company has a market capitalization of $62.85 billion, a P/E ratio of 17.18, a PEG ratio of 3.10 and a beta of 0.48. American Electric Power Company, Inc. has a 1-year low of $89.91 and a 1-year high of $120.46.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.16. The firm 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 quarterly revenue 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. As a group, equities research analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, August 8th. American Electric Power’s payout ratio is presently 54.39%.

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.